I'm Not Buying Darden Restaurants, Despite The 4.66% Dividend Yield
- Darden recently sold Red Lobster. Proceeds of this sale will go towards reducing the long-term debt and buying back $0.5 billion worth of shares.
- The dividend is very high, at 4.66%, but I don't expect any growth in the current or next fiscal year.
- P/E and P/S ratios are a bit too high in my opinion. I'll be buying if and when shares in Darden reach $40.