Last $46.44 USD
Change Today -0.31 / -0.66%
Volume 599.2K
DRI On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 12:01 PM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).

darden restaurants inc (DRI) Snapshot

Open
$46.67
Previous Close
$46.75
Day High
$46.99
Day Low
$46.38
52 Week High
12/23/13 - $54.89
52 Week Low
07/17/14 - $43.56
Market Cap
6.1B
Average Volume 10 Days
2.0M
EPS TTM
$1.93
Shares Outstanding
132.3M
EX-Date
07/8/14
P/E TM
24.0x
Dividend
$2.20
Dividend Yield
4.74%
Current Stock Chart for DARDEN RESTAURANTS INC (DRI)

darden restaurants inc (DRI) Details

Darden Restaurants, Inc. owns and operates full service restaurants in the United States and Canada. It operates restaurants under the Olive Garden, Red Lobster, LongHorn Steakhouse, The Capital Grille, Yard House, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Wildfish Seafood Grille brand names. As of May 25, 2014, it owned and operated 2,207 restaurants. The company was founded in 1968 and is headquartered in Orlando, Florida.

206,489 Employees
Last Reported Date: 07/18/14
Founded in 1968

darden restaurants inc (DRI) Top Compensated Officers

Chief Executive Officer, Executive Director a...
Total Annual Compensation: $1.2M
President and Chief Operating Officer
Total Annual Compensation: $658.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $542.8K
Compensation as of Fiscal Year 2014.

darden restaurants inc (DRI) Key Developments

Darden Restaurants, Inc. Proposes Amendment to Bylaws

Darden Restaurants, Inc. announced that at the AGM to be held on September 30, 2014, the company will seek shareholder's approval for the amendment to Bylaws to provide for proxy access.

Darden Restaurants, Inc. Announces Management Changes

Darden Restaurants, Inc. announced that Clarence Otis is stepping down as Chairman and Chief Executive Officer of the company. The company Board of Directors has appointed the current Independent Lead Director, Charles A. Ledsinger, Jr., as Independent Non-Executive Chairman of the Board, effective immediately. To ensure a smooth transition, Mr. Otis has agreed to continue serving as Chief Executive Officer of Darden until the earlier of the appointment of his successor or December 31, 2014. Mr. Otis will remain a director of the company, but will not stand for re-election at the 2014 Annual Meeting of Shareholders. Mr. Otis joined Darden in 1995. He was appointed Chief Executive Officer of Darden in November 2004. Mr. Ledsinger has been a member of Darden's Board of Directors since 2005 and was appointed as the company's Independent Lead Director in 2012.

Darden Restaurants, Inc. Announces Extension of Cash Tender Offer and Early Tender Date

Darden Restaurants, Inc. announced that it is extending the expiration date in the previously announced cash tender offers for its outstanding 4.50% Senior Notes due 2021, 3.350% Senior Notes due 2022, 6.000% Senior Notes due 2035 and 6.200% Senior Notes due 2017. The Offers will now expire on August 7, 2014, unless further extended or earlier terminated. Darden reserves the right to terminate, withdraw or amend the Offers at any time subject to applicable law. Darden has also announced that the ‘Early Tender Date’ in connection with the tender offer, originally scheduled to expire on July 14, 2014, has been extended through August 7, 2014. Holders of Notes that are validly tendered prior to the Early Tender Date and not validly withdrawn and accepted for purchase will receive the applicable Total Consideration set forth in the table below, which includes an early tender payment of $30.00 per $1,000 principal amount of the Notes accepted for purchase on the Settlement Date. Holders of Notes validly tendered and accepted will also receive additional accrued interest up to, but excluding, the new Settlement Date. The Settlement Date is expected to occur on the first business day following the Expiration Date, subject to all conditions to the Offers having been satisfied or waived by Darden. The expected Settlement Date is August 8, 2014, unless further extended by Darden, assuming all conditions to the Offers have been satisfied or waived by Darden. Assuming that the conditions to the Offers having been satisfied or waived, validly tendered Notes will be accepted for purchase, subject to the Maximum Amount and Acceptance Priority Levels, on a prorated basis as described in the Offer to Purchase. The terms and conditions of the Offers are set forth in its Offer to Purchase, dated June 30, 2014, and the related Letter of Transmittal and remain unchanged, except as amended hereby and as amended on July 15, 2014 to increase the maximum aggregate principal amount of Notes the be purchased to $610,000,000 and eliminate the tender caps for the 2021 Notes and the 2022 Notes.

 

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Industry Analysis

DRI

Industry Average

Valuation DRI Industry Range
Price/Earnings 34.0x
Price/Sales 1.0x
Price/Book 2.9x
Price/Cash Flow 10.5x
TEV/Sales 0.5x
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