Darden Restaurants insider sale and fresh institutional stake raise market interest

Chief People Officer Sarah H. King sold 4,373 shares of Darden Restaurants, Inc. for roughly $920,200 at a weighted average price of $210.42 per share, cutting her direct holdings to 742 shares while retaining over 7,000 derivative securities that keep her exposure to the company.

Edgestream Partners L.P. purchased a new stake of 19,499 shares in the first quarter, valued at about $3.8 million. The purchase joins a series of institutional moves, including new positions by Meridian Wealth Management, Sanctuary Advisors, Concurrent Investment Advisors, Fortis Capital Advisors and a modest increase by Vanguard Group, which together hold the majority of Darden’s outstanding shares. Analysts at Citigroup, Robert W. Baird, Guggenheim, Piper Sandler and Deutsche Bank have raised their price targets on the stock, reflecting renewed confidence in the restaurant operator’s growth prospects.