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Darden Restaurants Inc (NYSE:DRI)
Shares Outstanding
133 Mil (As of Feb. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Darden Restaurants Inc's shares outstanding for the quarter that ended in Feb. 2014 was 133 Mil.

Darden Restaurants Inc's quarterly shares outstanding increased from Nov. 2013 (133 Mil) to Feb. 2014 (133 Mil). It means Darden Restaurants Inc issued new shares from Nov. 2013 to Feb. 2014 .

Darden Restaurants Inc's annual shares outstanding declined from May. 2012 (133 Mil) to May. 2013 (132 Mil). It means Darden Restaurants Inc bought back shares from May. 2012 to May. 2013 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Darden Restaurants Inc Annual Data

May04May05May06May07May08May09May10May11May12May13
Shares Outstanding 170163157149145140142140133132

Darden Restaurants Inc Quarterly Data

Nov11Feb12May12Aug12Nov12Feb13May13Aug13Nov13Feb14
Shares Outstanding 133131131131132132132133133133
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