Darden Restaurants SVP General Counsel Sells $749,824 in Stock

In recent market developments, Matthew R. Broad, the Senior Vice President and General Counsel of Darden Restaurants Inc., sold shares of the company amounting to approximately $749,824. This transaction occurred on September 23, during which Broad sold 4,360 shares at an average price of $171.978 each.

The sale was conducted through multiple trades, with prices ranging from $171.88 to $172.10, with the reported price reflecting the weighted average sale price according to details included in the SEC filing. Broad stated that he would provide precise information regarding the number of shares sold and their sale prices if requested by SEC staff, the issuer, or a security holder.

After the sale, Broad retains direct ownership of 14,248.789 shares in Darden Restaurants. This total includes shares acquired through the Employee Stock Purchase Plan and the plan’s dividend reinvestment feature. It is also important to note that the total shares reported has been corrected to address an error from a prior Form 4 filed on July 31, which had incorrectly inflated the total holdings by 5,471 shares.

These transactions have been duly documented in accordance with SEC regulations, as confirmed by the signature of Anthony G. Morrow, Attorney-in-fact for Broad, dated September 25, 2024.

In other updates, Darden Restaurants’ first-quarter earnings for fiscal year 2025 fell short of market expectations, reporting earnings per share of $1.75. However, the company did see a modest 1% sales increase, totaling $2.8 billion. Darden has also confirmed its plans to acquire Chuy’s, which is expected to have a neutral impact on earnings per share. In light of these developments, various firms have adjusted their price targets for Darden. KeyBanc Capital Markets has raised its target to $194, highlighting potential gains from a new partnership with a delivery service. Other firms, including BMO Capital, Raymond James, and TD Cowen, have adjusted their targets to $175, $187, and $165, respectively. Evercore ISI goes a step further, upgrading Darden’s stock to "Outperform" and increasing its target to $205. These changes reflect a spectrum of expectations regarding Darden’s future performance, influenced by its strategic moves such as the partnership and acquisition.

Investing Insights

In light of Matthew R. Broad’s share sale at Darden Restaurants Inc., several key financial metrics may be affecting investor sentiment and insider decisions. Darden Restaurants has shown a commendable history of returning value to shareholders, having increased its dividend for four consecutive years — a sign of the company’s commitment to consistent shareholder returns, which may ease concerns related to insider sales.

Financially, Darden Restaurants maintains a market capitalization of $20.03 billion, indicative of its significant industry presence. The company’s Price to Earnings (P/E) ratio stands at 19.39; when adjusted for the last twelve months as of Q1 2025, this slightly decreases to 19.04. This suggests that the market perceives a stable earnings outlook. Furthermore, the company has experienced a revenue growth of 5.98% over the past twelve months as of Q1 2025, indicating a positive business trajectory.

Investors might also take note of Darden’s recent performance, which saw a significant return of 7.52% over the last week. This uptick could signify market confidence or a reaction to recent developments. For those looking to gain further insights into Darden Restaurants’ prospects and financial wellbeing, additional resources are available, offering in-depth analysis and potential investment strategies.

This article was generated with the support of AI and reviewed by an editor.