Darden Restaurants CEO Ricardo Cardenas sold 39,134 shares for $8.2 million after exercising options struck at $124.24. The transaction, disclosed in an SEC filing, left him with 86,145 directly held shares. Darden recently crossed $13 billion in annual sales and lifted adjusted earnings 11.4% to $10.64 a share, though growth was uneven, with LongHorn Steakhouse same-store sales up 9.5% while Olive Garden rose just 2.4%. Beef inflation remains a pressure point for the steakhouse brand.
Darden Restaurants IncCEO insider selling after option exercise, though not necessarily bearish, signals potential lack of confidence.
