November 28, 2016 - By Marguerite Chambers
In a a research note revealed to clients and investors on 28 November, Maxim Group stated it was downgrading Darden Restaurants (DRI) stock from a “Buy” to a “Hold”. The firm has a $74.0 PT on DRI’s stock.
Out of 2 analysts covering Darden Restaurants (DRI), 0 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 0 are positive. Darden Restaurants has been the topic of 2 analyst reports since October 3, 2016 according to StockzIntelligence Inc. The firm has “Sell” rating by Stifel Nicolaus given on Monday, October 3. Raymond James upgraded the shares of DRI in a report on Tuesday, October 18 to “Mkt Perform” rating.
The stock increased 0.62% or $0.46 during the last trading session, hitting $74.95. About 536 shares traded hands. Darden Restaurants, Inc. (DRI) has risen 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 earnings per share, 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 earnings per share reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.18, from 1.09 in 2016Q1. The ratio turned negative, 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.
Pub Employees Retirement Association Of Colorado has 0.02% invested in the company for 28,795 shares. Bancorporation Of Montreal Can holds 0.06% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 852,144 shares. Howland Cap Mngmt Llc owns 4,693 shares or 0.03% of their US portfolio. Credit Agricole S A has invested 0.05% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Balyasny Asset Mngmt Ltd Liability Corporation holds 14,274 shares or 0.01% of its portfolio. Finemark Bankshares has invested 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Cambridge Inv Advisors, a Iowa-based fund reported 9,635 shares. Nordea Inv Mgmt accumulated 0.01% or 65,515 shares. Kcg Holdg Inc reported 27,976 shares or 0.04% of all its holdings. Oppenheimer Inc owns 14,910 shares or 0.03% of their US portfolio. Renaissance Tech Lc accumulated 714,000 shares or 0.09% of the stock. Bowling Port Management Ltd Limited Liability Company, a Ohio-based fund reported 88,445 shares. Renaissance Grp Ltd Liability has invested 1.2% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Pub Sector Pension Investment Board holds 0.02% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 21,600 shares. Archford Capital Strategies holds 171 shares or 0.01% of its portfolio.
Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 sale for $2.12 million net activity. Another trade for 3,000 shares valued at $185,100 was bought by FOGARTY JAMES P. $2.31M worth of Darden Restaurants, Inc. (NYSE:DRI) was sold by Kirgan Danielle L. on Monday, October 10.
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).
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.”
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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