Martin Melvin John, President of the Specialty Restaurant Group (LON:) at Darden Restaurants Inc. (NYSE:NYSE:), recently executed a significant stock sale. On December 26, Melvin sold 9,470 shares of common stock at an average price of $188.0671 per share, totaling approximately $1.78 million. This transaction was part of multiple trades with prices ranging from $187.80 to $188.28. The sale occurred as the stock trades near its 52-week high of $189.18, with InvestingPro data showing strong price momentum and a market capitalization of $22.04 billion.
In a related move, Melvin also exercised options to acquire the same number of shares at a price of $107.50 per share. After these transactions, Melvin holds 12,611.315 shares directly. The stock sales and option exercises were filed with the Securities and Exchange Commission and reflect Melvin’s ongoing management of his holdings in the company. According to InvestingPro, the stock currently trades at a P/E ratio of 21.3, suggesting a premium valuation relative to its near-term earnings growth potential. Investors can access detailed valuation metrics and 12 additional exclusive ProTips through InvestingPro’s comprehensive research platform.
In other recent news, Darden Restaurants has been in the spotlight following robust earnings and revenue results. The company’s second-quarter fiscal year 2025 performance surpassed expectations, with earnings per share of $2.03 and a nearly 6% revenue growth over the last twelve months to $11.4 billion. Darden also reported a 2.4% increase in same-store sales, exceeding the anticipated 1.4%.
Several financial firms have adjusted their outlook on Darden. BMO Capital raised the target price to $175, maintaining a neutral stance due to the company’s performance relative to the industry standards. Stephens, Oppenheimer, KeyBanc Capital Markets, Baird, and Raymond (NS:) James also increased their price targets, while maintaining various ratings.
Furthermore, Darden has reaffirmed its full-year 2025 earnings per share guidance, projected to be between $9.40 and $9.60. The company’s solid financial health is evident in its consistent dividend payments, which it has maintained for 30 consecutive years. These are the recent developments in Darden’s financial journey.
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