Matthew R. Broad, senior vice president and general counsel of Darden Restaurants Inc. (NYSE:), recently sold 12,759 shares of the company's common stock. The shares were sold at an average price of approximately $187.37, resulting in a total transaction value of more than $2.3 million. The sale comes as Darden trades near its 52-week high of $189.18, with the stock having returned an impressive 32% over the past six months.
In addition to the sale, Broad exercised options to acquire a total of 12,759 shares at prices ranging from $107.05 to $124.24, for a total value of approximately $1.4 million. Following these transactions, Broad has 14,328 shares outright.
These transactions were part of a series of moves reported in a Form 4 filed with the Securities and Exchange Commission, which details recent stock activity of insiders.
In other recent news, Darden Restaurants has received attention from several financial companies after posting strong profits and revenues. The company's Q2 fiscal 2025 performance exceeded expectations with EPS of $2.03, slightly above the consensus estimate of $2.02, and revenue growing nearly 6% over the past 12 months to $11.4 billion. Additionally, Darden's same-store sales rose 2.4%, beating Street forecasts of 1.4%.
KeyBanc Capital Markets maintained a positive outlook on Darden Restaurants, citing the strength of major brands in delivering high-value experiences in the current demand environment. This increased the target price by $200.00. BMO Capital also raised the target to $175, citing an increase in sales trend estimates for fiscal 2026.
Oppenheimer maintained an Outperform rating on Darden Restaurants and increased its price target from $182 to $200, highlighting improving same-store sales trends. Stevens raised his stock price target for Darden Restaurants to $175 while maintaining his equal weight rating on the stock. These are the latest developments in Darden's financial journey.
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