Is This High-Yielding Dividend Stock a Buy?
Unfavorable macroeconomic factors, such as elevated inflation and rising interest rates, have led financial markets to sharply sell off in 2022. The S&P 500 index has crashed 23% so far this year.
But more defensive stocks (like income stocks) with strong brands have fared better during the market downturn. Best known for its Olive Garden Italian Restaurant and LongHorn Steakhouse brands, Darden Restaurants (NYSE: DRI) has dipped just 16% year to date. But is the stock's market-beating dividend yield a buy for yield-hungry investors? Let's take a look at Darden Restaurants' fundamentals and valuation to address this question.
With more than 1,850 restaurants in the United States and 180,000 employees, Darden Restaurants is the largest full-service restaurant company in the country. Thanks to the high recognition of its brands, more than 1 million guests frequent its eight restaurant brands each day.
Source Fool.com
