Short Interest Runner: Darden Restaurants Incorporated (NYSE:DRI) Sellers Increased By 12.72% Their Shorts

December 1, 2016 - By Marie Mckinney   ·   0 Comments

Short Interest Runner: Darden Restaurants Incorporated (NYSE:DRI) Sellers Increased By 12.72% Their Shorts

The stock of Darden Restaurants Incorporated (NYSE:DRI) registered an increase of 12.72% in short interest. DRI’s total short interest was 11.25M shares in December as published by FINRA. Its up 12.72% from 9.98 million shares, reported previously. With 1.50 million shares average volume, it will take short sellers 8 days to cover their DRI’s short positions. The short interest to Darden Restaurants Incorporated’s float is 9.16%. About 875,323 shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has risen 16.07% since April 28, 2016 and is uptrending. It has outperformed by 10.15% the S&P500.

Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $9.33 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 24.8 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).

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio dived, as 46 funds sold all Darden Restaurants, Inc. shares owned while 172 reduced positions. 56 funds bought stakes while 182 increased positions. They now own 115.09 million shares or 1.22% less from 116.51 million shares in 2016Q1.
Schwab Charles Invest Management accumulated 1.53 million shares or 0.12% of the stock. Gam Holding Ag holds 0.02% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 19,070 shares. Associated Banc last reported 6,072 shares in the company. Princeton Alpha Lp reported 41,658 shares or 0.47% of all its holdings. Cap Fund Management Sa holds 0.1% or 172,551 shares in its portfolio. Mitsubishi Ufj Trust And Corp, a Japan-based fund reported 257,087 shares. Fifth Third Comml Bank holds 0.01% or 15,599 shares in its portfolio. American Century holds 0.1% or 1.40M shares in its portfolio. State Of Tennessee Treasury Department holds 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 25,643 shares. Huntington National Bank has invested 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). California Employees Retirement System reported 307,600 shares or 0.03% of all its holdings. Fred Alger Mngmt holds 0.01% or 14,963 shares in its portfolio. Pnc Fin Gp Incorporated has 46,452 shares for 0% of their US portfolio. Renaissance Technologies Ltd Limited Liability Company holds 714,000 shares or 0.09% of its portfolio. Cibc Asset Mgmt Inc last reported 18,585 shares in the company.

Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 sale for $2.12 million net activity. FOGARTY JAMES P bought $185,100 worth of Darden Restaurants, Inc. (NYSE:DRI) on Thursday, July 7. On Monday, October 10 Kirgan Danielle L. sold $2.31 million worth of the stock or 36,907 shares.

Darden Restaurants, Inc. (NYSE:DRI) Ratings Coverage

Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. Darden Restaurants has been the topic of 31 analyst reports since August 25, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Darden Restaurants, Inc. (NYSE:DRI) on Monday, December 21 with “Sector Perform” rating. Stifel Nicolaus downgraded the stock to “Sell” rating in Tuesday, July 26 report. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Sell” rating given on Monday, October 3 by Stifel Nicolaus. On Thursday, October 8 the stock rating was initiated by Suntrust Robinson with “Neutral”. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Market Perform” rating by Raymond James on Monday, October 12. The firm has “Buy” rating given on Friday, June 24 by Tigress Financial. Credit Suisse downgraded the shares of DRI in a report on Tuesday, November 29 to “Neutral” rating. SunTrust maintained Darden Restaurants, Inc. (NYSE:DRI) rating on Wednesday, October 5. SunTrust has “Neutral” rating and $67 price target. The company was maintained on Wednesday, April 6 by BTIG Research. Maxim Group maintained it with “Buy” rating and $73 target price in Monday, December 21 report.

DRI Company Profile

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 news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Seekingalpha.com, which released: “Darden Restaurants: Strong And Cheap” on November 28, 2016. Forbes.com‘s article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” and published on November 11, 2016 is yet another important article.

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By Marie Mckinney

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