Darden Restaurants CEO Ricardo Cardenas Buys Shares

On June 23, 2026, Ricardo Cardenas, the President and CEO of Darden Restaurants, Inc. (NYSE:DRI), bought 23,249 shares of the company. This insider purchase comes amid a series of buy ratings from analysts. The transaction was not part of a prearranged trading plan.

Insider Buying and Selling at Darden Restaurants, Inc.

Several insiders at Darden Restaurants made purchases on June 23, 2026. Alongside CEO Ricardo Cardenas, John Wilkerson, President of Olive Garden, acquired 2,325 shares. Rajesh Vennam, Senior Vice President and CFO, bought 5,890 shares. Susan Connelly, Senior Vice President and Chief Communications & PA Officer, purchased 1,551 shares. Laura Williamson, President of LongHorn Steakhouse, added 869 shares, and Melvin John Martin, Group President, bought 4,650 shares.

Other Institutional Activity in Darden Restaurants

CAPITAL WORLD INVESTORS reduced its holdings by 232,593 shares, leaving it with 14,928,684 shares valued at about $2.93 billion, a 1.5% decrease. BLACKROCK, INC. also trimmed its position by 280,271 shares, ending with 9,649,638 shares worth approximately $1.89 billion, a 2.8% decrease. VANGUARD CAPITAL MANAGEMENT LLC opened a new position with 7,473,998 shares valued at $1.47 billion. WELLINGTON MANAGEMENT GROUP LLP decreased its stake by 1,228,575 shares, holding 6,848,992 shares valued at $1.34 billion, a 15.2% reduction. STATE STREET CORP slightly reduced its stake by 6,595 shares, maintaining 4,861,580 shares worth about $953 million.

Darden Restaurants, Inc. Stock Down 2.1%

Shares of NYSE:DRI traded near $209.98 on Thursday. Darden Restaurants has a market cap of $24.28 billion and a P/E ratio of 22.3. The stock's 52-week low is $169.00, and it reached a high of $224.94. It has a 50-day moving average of $199.51 and a 200-day moving average of $195.85. The company's current ratio stands at 0.387, with a quick ratio of 0.133 and a debt-to-equity ratio of 387.68.

Analysts Set New Price Targets

On June 24, 2026, Guggenheim maintained a buy rating with a price target of $235. Previously, Oppenheimer reiterated its buy rating with a $235 price target on June 18. Citigroup maintained a buy rating with a target of $245 on June 15, while B of A Securities set a high target of $276 on June 5. Keybanc also maintained a buy rating with a target of $228 on May 27. Overall, analysts have a consensus buy rating with a mean target price of $226.23.

About Darden Restaurants

Darden Restaurants, Inc., headquartered in Orlando, Florida, operates full-service restaurants in the United States and Canada. The company owns several popular chains, including Olive Garden, LongHorn Steakhouse, and Cheddar's Scratch Kitchen. Founded in 1938, Darden employs nearly 198,000 people and is led by CEO Ricardo Cardenas.

Bottom Line

The recent insider buying by Darden Restaurants' CEO Ricardo Cardenas could indicate confidence in the company's future. Investors often track such insider activity as a potential indicator of a company's prospects. Analyst ratings remain positive, with multiple firms maintaining buy ratings and setting high price targets. It's important to remember that insider transactions are reported after the fact and may not reflect current holdings.