November 28, 2016 - By Vivian Park · 0 Comments
Darden Restaurants Inc (NYSE:DRI) institutional sentiment decreased to 0.91 in 2016 Q2. Its down -0.18, from 1.09 in 2016Q1. The ratio worsened, as 238 hedge funds opened new or increased stock positions, while 218 sold and trimmed equity positions in Darden Restaurants Inc. The hedge funds in our partner’s database now own: 115.09 million shares, down from 116.51 million shares in 2016Q1. Also, the number of hedge funds holding Darden Restaurants Inc in their top 10 stock positions was flat from 3 to 3 for the same number . Sold All: 46 Reduced: 172 Increased: 182 New Position: 56.
Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $9.28 billion. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. It has a 24.67 P/E ratio. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining ) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
The stock closed at $74.95 during the last session. It is down 18.11% since April 25, 2016 and is uptrending. It has outperformed by 12.09% the S&P500.
Analysts await Darden Restaurants, Inc. (NYSE:DRI) to report earnings on December, 16. They expect $0.63 EPS, up 16.67% or $0.09 from last year’s $0.54 per share. DRI’s profit will be $78.00M for 29.74 P/E if the $0.63 EPS becomes a reality. After $0.88 actual EPS reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.
According to Zacks Investment Research, “Darden Restaurants, Inc. is the world’s largest casual dining restaurant company based on market share, sales and number of company-owned and operated restaurants. Darden through its subsidiaries, engages in the ownership and operation of casual dining restaurants in the United States and Canada.”
Starboard Value Lp holds 8.72% of its portfolio in Darden Restaurants, Inc. for 3.89 million shares. Northcoast Asset Management Llc owns 677,970 shares or 2.94% of their US portfolio. Moreover, Alethea Capital Management Llc has 2.58% invested in the company for 29,718 shares. The Missouri-based Argent Capital Management Llc has invested 2.43% in the stock. Jag Capital Management Llc, a Missouri-based fund reported 151,963 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 insider purchase, and 1 insider sale for $2.12 million net activity.
Ratings analysis reveals 56% of Darden Restaurants’s analysts are positive. Out of 16 Wall Street analysts rating Darden Restaurants, 9 give it “Buy”, 2 “Sell” rating, while 5 recommend “Hold”. The lowest target is $50 while the high is $80. The stock’s average target of $70.50 is -5.94% below today’s ($74.95) share price. DRI was included in 29 notes of analysts from August 25, 2015. Piper Jaffray upgraded the shares of DRI in a report on Tuesday, May 17 to “Overweight” rating. Maxim Group maintained it with “Buy” rating and $71 target price in Wednesday, November 11 report. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Mkt Perform” rating given on Tuesday, October 18 by Raymond James. The rating was downgraded by Raymond James on Monday, October 12 to “Market Perform”. Maxim Group initiated it with “Hold” rating and $80 target price in Wednesday, September 30 report. As per Monday, December 21, the company rating was maintained by RBC Capital Markets. SunTrust maintained it with “Neutral” rating and $67 target price in Wednesday, October 5 report. The firm earned “Buy” rating on Wednesday, April 6 by BTIG Research. As per Wednesday, April 6, the company rating was maintained by Barclays Capital. The firm has “Sell” rating by Stifel Nicolaus given on Tuesday, July 26.
Darden Restaurants, Inc., incorporated on March 30, 1995, is a full-service restaurant company. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements.
More recent Darden Restaurants, Inc. (NYSE:DRI) news were published by: Prnewswire.com which released: “Restaurants Stocks Under Scanner — Darden Restaurants, Dunkin’ Brands …” on November 28, 2016. Also Wsj.com published the news titled: “Room for Seconds at Darden Restaurants” on October 03, 2016. Forbes.com‘s news article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” with publication date: November 11, 2016 was also an interesting one.
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By Vivian Park