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Susan M. Connelly, Senior Vice President and Chief Communications and Public Affairs Officer at Darden Restaurants Inc. (NYSE:DRI), recently executed a significant transaction involving the company's stock. On January 6, 2025, Connelly sold 9,264 shares of Darden stock at an average price of $184.68 per share, amounting to a total of approximately $1.71 million. The transaction comes as Darden trades near its 52-week high of $189.18, with the stock showing impressive momentum, gaining nearly 30% over the past six months. InvestingPro subscribers can access detailed insider trading patterns and 12 additional key insights about Darden's current market position.
In addition to the sale, Connelly also exercised stock options, acquiring 5,428 shares at a price of $78.84 per share and 3,836 shares at $85.83 per share. These transactions were part of her non-derivative securities dealings, with the total value of the acquisitions reaching approximately $757,187.
Following these transactions, Connelly now holds 4,567 shares of Darden stock. The stock sales and acquisitions were disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Darden Restaurants has been the center of attention due to its impressive earnings and revenue results. The company reported second-quarter earnings per share (EPS) for fiscal year 2025 of $2.03, narrowly surpassing the consensus estimate of $2.02. This positive outcome was attributed to stronger comparable sales and lower food costs. Darden's revenue grew nearly 6% over the last twelve months to $11.4 billion.
Several financial firms, including BMO Capital, Stephens, Oppenheimer, KeyBanc Capital Markets, Baird, and Raymond (NS:RYMD) James, have raised their price targets for Darden. Despite the price target increases, some firms, like BMO Capital and Baird, continue to maintain a neutral stance on Darden's stock due to ongoing struggles in a pressurized sales environment.
The company, known for its strong dividend track record, has paid dividends for 30 consecutive years, with a current yield of 3.05%. These are recent developments in Darden's financial journey.
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