Thu Sep 26 12:53:21 UTC 2024: ## Darden Restaurants CEO Sells Shares Amid Mixed Earnings Report

**Orlando, FL** – Darden Restaurants, Inc. (NYSE:DRI) CEO Ricardo Cardenas sold 42,403 shares of the company’s stock on Monday, September 23rd, for a total value of $7,279,747.04. The sale comes amidst a mixed earnings report released by the restaurant operator last week.

Darden reported earnings per share (EPS) of $1.75 for the quarter, missing analysts’ expectations of $1.83. Revenue for the quarter came in at $2.76 billion, slightly below the anticipated $2.80 billion. While the company’s revenue saw a 1.0% year-over-year increase, the missed earnings target has sparked some concern among investors.

Despite the recent sales, Darden remains a popular stock among institutional investors. Norges Bank, D.A. Davidson & CO, Orion Portfolio Solutions LLC, Parallel Advisors LLC, and Steward Partners Investment Advisory LLC have all recently increased their stakes in the company.

Analysts remain divided on the future prospects of Darden. Jefferies Financial Group downgraded the stock from a “hold” to an “underperform” rating, while Bank of America raised their target price to $195.00. MarketBeat currently gives Darden an average rating of “Moderate Buy” with a consensus target price of $179.25.

Darden Restaurants operates a variety of popular restaurant brands, including Olive Garden, LongHorn Steakhouse, and The Capital Grille. The company remains committed to its growth strategy, focusing on new restaurant openings and digital initiatives.

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