Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's.

Company profile
Ticker
DRI
Exchange
Website
CEO
Eugene Lee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
1.Cheddar’s Casual Cafe, Inc. • 2.Cheddar’s Restaurant Holding Corp. • 3.GMRI, Inc. • 4.N and D Restaurants, LLC • 5.Olive Garden of Texas, LLC • 6.RARE Hospitality International, Inc. • 7.Yard House USA, Inc. • 8.Bahama Breeze Holdings, LLC • 9.Capital Grille Holdings, Inc. • 10.Darden Corporation ...
IRS number
593305930
DRI stock data
News

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session
10 Aug 22
Why 40% Of Monthly U.S. Food Budgets Are Spent On Restaurants: Report
15 Jul 22
$1.2 Million Bet On Darden Restaurants? 3 Stocks Insiders are Buying
1 Jul 22
These 2 Restaurant Stocks Are Delicious. Avoid This One, BofA Says
27 Jun 22
Where Darden Restaurants Stands With Analysts
27 Jun 22
Press releases
Analyst ratings and price targets
Current price
Average target
$140.05
Low target
$122.00
High target
$155.00
B of A Securities
Maintains
$145.00
BMO Capital
Maintains
$130.00
RBC Capital
Maintains
$143.00
Truist Securities
Maintains
$136.00
Morgan Stanley
Maintains
$148.00
Credit Suisse
Maintains
$152.00
Deutsche Bank
Maintains
$124.00
Citigroup
Maintains
$140.00
Piper Sandler
Maintains
$150.00
Barclays
Maintains
$130.00
Stifel
Maintains
$135.00
Wedbush
Maintains
$122.00
Oppenheimer
Maintains
$155.00
Baird
Maintains
$146.00
UBS
Maintains
$155.00
Cowen & Co.
Maintains
$140.00
Goldman Sachs
Maintains
$128.00
Raymond James
Maintains
$136.00
Keybanc
Maintains
$136.00
MKM Partners
Maintains
$150.00
Calendar
22 Jul 22
20 Aug 22
29 May 23
Financial summary
Quarter (USD) | May 22 | Feb 22 | Nov 21 | Aug 21 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | May 22 | May 21 | May 20 | May 19 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 472.1M | 472.1M | 472.1M | 472.1M | 472.1M | 472.1M |
Cash burn (monthly) | 44.9M | 61.88M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 121.99M | 168.13M | n/a | n/a | n/a | n/a |
Cash remaining | 350.11M | 303.97M | n/a | n/a | n/a | n/a |
Runway (months of cash) | 7.8 | 4.9 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
2 Aug 22 | Eugene I Lee JR | Common Stock | Sell | Dispose S | No | No | 124.5715 | 33,468 | 4.17M | 222,480 |
2 Aug 22 | Eugene I Lee JR | Common Stock | Sell | Dispose S | No | No | 125.294 | 7,974 | 999.09K | 255,948 |
29 Jul 22 | Eugene I Lee JR | Common Stock | Payment of exercise | Dispose F | No | No | 126.58 | 14,424 | 1.83M | 263,922 |
29 Jul 22 | Eugene I Lee JR | Common Stock | Option exercise | Acquire M | No | No | 0 | 36,651 | 0 | 278,346 |
29 Jul 22 | Eugene I Lee JR | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 36,651 | 0 | 0 |
29 Jul 22 | Melvin John Martin | Common Stock | Payment of exercise | Dispose F | No | No | 126.58 | 525 | 66.45K | 15,053.963 |
29 Jul 22 | Melvin John Martin | Common Stock | Option exercise | Acquire M | No | No | 0 | 1,332 | 0 | 15,578.963 |
29 Jul 22 | Melvin John Martin | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 1,332 | 0 | 1,374 |
27 Jul 22 | Rajesh Vennam | Stock Option Common Stock | Grant | Acquire A | No | No | 121.47 | 12,306 | 1.49M | 12,306 |
27 Jul 22 | Rajesh Vennam | RSU Common Stock | Grant | Acquire A | No | No | 0 | 3,642 | 0 | 3,642 |
Institutional ownership, Q2 2022
88.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 672 |
Opened positions | 75 |
Closed positions | 134 |
Increased positions | 222 |
Reduced positions | 252 |
13F shares | Current |
---|---|
Total value | 12.38B |
Total shares | 109.44M |
Total puts | 1.77M |
Total calls | 986.6K |
Total put/call ratio | 1.8 |
Largest owners | Shares | Value |
---|---|---|
Capital International Investors | 15.85M | $1.79B |
Capital World Investors | 15.64M | $1.77B |
Vanguard | 14.31M | $1.62B |
BLK Blackrock | 8.33M | $941.77M |
STT State Street | 4.99M | $564.92M |
Wellington Management | 2.58M | $292.32M |
Geode Capital Management | 2.44M | $276.08M |
Newport Trust | 2.16M | $244.78M |
AMP Ameriprise Financial | 1.48M | $166.98M |
Millennium Management | 1.48M | $167.21M |
Financial report summary
?Risks
- A failure to address cost pressures, including rising costs for commodities, labor, health care and utilities used by our restaurants, and a failure to effectively deliver cost management activities and achieve economies of scale in purchasing could compress our margins and adversely affect our sales and results of operations.
- Certain economic and business factors and their impacts on the restaurant industry and other general macroeconomic factors including unemployment, energy prices and interest rates that are largely beyond our control may adversely affect consumer behavior and our results of operations.
- The inability to hire, train, reward and retain restaurant team members and determine and maintain adequate staffing may impact our ability to achieve our operating, growth and financial objectives.
- A failure to recruit, develop and retain effective leaders or the loss or shortage of personnel with key capacities and skills could impact our strategic direction and jeopardize our ability to meet our business performance expectations and growth targets.
- We may be subject to increased labor and insurance costs.
- Health concerns arising from food-related pandemics, outbreaks of flu, viruses or other diseases may have an adverse effect on our business.
- A failure to maintain food safety throughout the supply chain and food-borne illness concerns may have an adverse effect on our business.
- We rely heavily on information technology in our operations, and insufficient guest or employee facing technology or a failure to maintain a continuous and secure cyber network, free from material failure, interruption or security breach, could harm our ability to effectively operate our business and/or result in the loss of respected relationships with our guests or employees.
- We are subject to a number of risks relating to public policy changes and federal, state and local regulation of our business, including in the areas of environmental matters, minimum wage, employee benefit regulations, unionization, menu labeling, immigration requirements and taxes, and an insufficient or ineffective response to legislation or government regulation may impact our cost structure, operational efficiencies and talent availability.
- We face intense competition, and if we have an insufficient focus on competition and the consumer landscape, our business, financial condition and results of operations could be adversely affected.
- We are subject to changes in consumer preferences that may adversely affect demand for food at our restaurants.
- Our inability or failure to recognize, respond to and effectively manage the accelerated impact of social media could have a material adverse impact on our business.
- A failure to identify and execute innovative marketing and guest relationship tactics, ineffective or improper use of other marketing initiatives, and increased advertising and marketing costs could adversely affect our results of operations.
- Climate change, adverse weather conditions and natural disasters could adversely affect our restaurant sales or results of operations.
- A majority of our restaurants are operated in leased properties and as a result, we are committed to long-term lease obligations that we may not be able to cancel if we want to close a restaurant location and we may be unable to renew the leases that we may want to extend at the end of their terms.
- Our inability or failure to execute on a comprehensive business continuity plan following a major natural disaster such as a hurricane or manmade disaster, at our corporate facility could have a materially adverse impact on our business.
- We may lose sales or incur increased costs if our restaurants experience shortages, delays or interruptions in the delivery of food and other products from our third party vendors and suppliers.
- Our failure to drive both short-term and long-term profitable sales growth through brand relevance, operating excellence, opening new restaurants of existing brands, and acquiring new restaurant brands could result in poor financial performance.
- A lack of availability of suitable locations for new restaurants or a decline in the quality of the locations of our current restaurants may adversely affect our sales and results of operations.
- We may experience higher-than-anticipated costs or delays associated with the opening of new restaurants or with the closing, relocating and remodeling of existing restaurants, which may adversely affect our results of operations.
- We face a variety of risks associated with doing business with franchisees and licensees.
- We face a variety of risks associated with doing business with business partners and vendors in foreign markets.
- Volatility in the market value of derivatives we may use to hedge exposures to fluctuations in commodity and broader market prices may cause volatility in our gross margins and net earnings.
- Volatility in the United States equity markets affects our ability to efficiently hedge exposures to our market risk related to equity-based compensation awards.
- Failure to protect our service marks or other intellectual property could harm our business.
- Litigation, including allegations of illegal, unfair or inconsistent employment practices, may adversely affect our business, financial condition and results of operations.
- Unfavorable publicity, or a failure to respond effectively to adverse publicity, could harm our reputation and adversely impact our guest counts and sales.
- Disruptions in the financial and credit markets may adversely impact consumer spending patterns and affect the availability and cost of credit.
- Impairment of the carrying value of our goodwill or other intangible assets could adversely affect our financial condition and results of operations.
- Changes in tax laws and unanticipated tax liabilities could adversely affect our financial results.
- Failure of our internal controls over financial reporting and future changes in accounting standards may cause adverse unexpected operating results, affect our reported results of operations or otherwise harm our business and financial results.
Management Discussion
- •Total sales increased 33.8% to $9.63 billion in 2022 from $7.20 billion in fiscal 2021 driven by a blended same-restaurant sales increase of 30.9% and sales from 33 net new restaurants.
- •Reported diluted net earnings per share from continuing operations increased to $7.40 in 2022 from $4.80 in fiscal 2021, a 54.2 percent increase.
- •Net earnings from continuing operations increased to $954.7 million in 2022 from $632.4 million in fiscal 2021, a 51.0 percent increase.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
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Financial reports
Current reports
8-K
And Provides Fiscal 2023 Outlook
23 Jun 22
8-K
And Updates Fiscal 2022 Outlook
24 Mar 22
8-K
Darden Restaurants, Inc. Welcomes Juliana Chugg to Its Board of Directors
22 Mar 22
8-K
Darden Restaurants Announces Upcoming CEO Transition
17 Dec 21
8-K
And Updates Fiscal 2022 Outlook
17 Dec 21
8-K
Submission of Matters to a Vote of Security Holders
23 Sep 21
8-K
And Increases Fiscal 2022 Outlook
23 Sep 21
8-K
Entry into a Material Definitive Agreement
13 Sep 21
8-K
And Provides Fiscal 2022 Outlook
24 Jun 21
8-K
And Provides Fiscal 2021 Fourth Quarter Outlook
25 Mar 21
Registration and prospectus
S-8
Registration of securities for employees
1 Oct 21
424B2
Prospectus for primary offering
21 Apr 20
424B5
Prospectus supplement for primary offering
20 Apr 20
POSASR
Automatic shelf registration (post-effective amendment)
20 Apr 20
S-3ASR
Automatic shelf registration
4 Oct 19
424B2
Prospectus for primary offering
7 Feb 18
424B5
Prospectus supplement for primary offering
6 Feb 18
FWP
Free writing prospectus
6 Feb 18
424B2
Prospectus for primary offering
10 Apr 17
424B5
Prospectus supplement for primary offering
9 Apr 17
Proxies
DEFA14A
Additional proxy soliciting materials
8 Aug 22
DEFA14A
Additional proxy soliciting materials
23 Aug 21
DEFA14A
Additional proxy soliciting materials
9 Aug 21
DEFA14A
Additional proxy soliciting materials
31 Aug 20
DEFA14A
Additional proxy soliciting materials
10 Aug 20
DEFA14A
Additional proxy soliciting materials
5 Aug 19
DEF 14A
Definitive proxy
5 Aug 19
Other
UPLOAD
Letter from SEC
21 Feb 18
CORRESP
Correspondence with SEC
14 Feb 18
UPLOAD
Letter from SEC
1 Feb 18
CORRESP
Correspondence with SEC
3 Aug 15
UPLOAD
Letter from SEC
3 Aug 15
CORRESP
Correspondence with SEC
2 Aug 15
UPLOAD
Letter from SEC
2 Aug 15
CERTNYS
Certification of approval for NYSE listing
28 Jun 15
UPLOAD
Letter from SEC
21 May 15
CORRESP
Correspondence with SEC
14 May 15
Ownership
4
DARDEN RESTAURANTS / EUGENE I LEE JR ownership change
3 Aug 22
4
DARDEN RESTAURANTS / Melvin John Martin ownership change
1 Aug 22
4
DARDEN RESTAURANTS / EUGENE I LEE JR ownership change
1 Aug 22
4
DARDEN RESTAURANTS / John W. Madonna ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Susan M. Connelly ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Richard L. Renninger ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Douglas J. Milanes ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Sarah H. King ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Matthew R Broad ownership change
29 Jul 22
4
DARDEN RESTAURANTS / Melvin John Martin ownership change
29 Jul 22
Transcripts
2022 Q4
Earnings call transcript
23 Jun 22
2022 Q3
Earnings call transcript
24 Mar 22
2022 Q2
Earnings call transcript
17 Dec 21
2022 Q1
Earnings call transcript
23 Sep 21
2021 Q4
Earnings call transcript
24 Jun 21
2021 Q3
Earnings call transcript
25 Mar 21
2021 Q2
Earnings call transcript
18 Dec 20
2021 Q1
Earnings call transcript
24 Sep 20
2020 Q4
Earnings call transcript
25 Jun 20
2020 Q3
Earnings call transcript
19 Mar 20
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7 Jul 22
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Daily Discussion Thread - July 6th, 2022
6 Jul 22
Daily Discussion Thread - July 5th, 2022
5 Jul 22
Daily Discussion Thread - July 4th, 2022
4 Jul 22
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25 Jun 22
Pre-market summary - June 23rd
23 Jun 22
(6/23) Thursday's Pre-Market Stock Movers & News
23 Jun 22