Economy

Darden Restaurants, Inc. (NYSE:DRI) Traded -6.1% Below Its 50 Day Average

According to Darden Restaurants, Inc.'s latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 91.05%. Sell-side analyst recommendations point to a short term price target of $93.23 on the company shares.

Darden Restaurants, Inc. was covered by a number of analysts recently, 5 rated the stock as Buy, 2 rated Outperform, 17 rated Hold, 1 gave an Underperform and 0 rated sell.

Darden Restaurants, Inc. (DRI) opened the session with a $76.84 price tag, later ranging from $76.27 to $79.2, the range at which the stock has traded at throughout the day. Wedbush Securities Inc. boosted its position in shares of Darden Restaurants by 0.4% during the first quarter.

Next Financial Group, Inc trimmed its investment by shedding 18 shares a decrease of 6.4% in the quarter. The restaurant operator reported $1.18 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.15 by $0.03. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator's stock valued at $959,215,000 after buying an additional 11,220,403 shares during the last quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator's stock worth $115,348,000 after buying an additional 510,969 shares during the last quarter. Finally, Ronald Blue & Co. Guggenheim upgraded the shares of DRI in report on Thursday, December 1 to "Buy" rating. Janus Capital Management LLC now owns 276,908 shares with a value of $23,169,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GEORGE DAVID C sold $7.01 million worth of Darden Restaurants, Inc. (NYSE:DRI) has risen 31.96% since September 11, 2016 and is uptrending. The total amount of shares outstanding is 122.96 million, giving the company a market capitalization of about 9.66 billion.

Neuberger Berman Group LLC lessened its stake in Darden Restaurants, Inc.

Shares last traded at $78.53 which is slightly below $83.60, the 50 day moving average and marginally under the 200 day moving average of $84.37. Darden Restaurants, Inc. shares had a trading volume of 2,261K by the end of trading on Friday. (NYSE:DRI) to report $0.98 EPS on September, 26 before the open.They anticipate $0.10 EPS change or 11.36% from last quarter's $0.88 EPS. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The consensus rating is 1.8, indicating analysts in general look favorably on the company's future prospects. During the same quarter in the prior year, the company earned $1.10 EPS. $8.16M worth of Darden Restaurants, Inc. Darden Restaurants, Inc. earnings have risen with an annualized rate of 12.8% over the last 5 years. Overall, volume was up 65.02% over the stocks normal daily volume. Following the sale, the insider now owns 165,062 shares of the company's stock, valued at approximately $15,116,377.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

ILLEGAL ACTIVITY NOTICE: "Hennessy Advisors Inc". Focused Wealth has invested 0% of its portfolio in Darden Restaurants, Inc. "(DRI)" was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another site, it was stolen and republished in violation of United States & worldwide trademark & copyright legislation. The correct version of this piece can be accessed at https://stocknewstimes.com/2017/09/11/neuberger-berman-group-llc-reduces-holdings-in-darden-restaurants-inc-dri.html. Stephens reaffirmed an equal weight rating and issued a $85.00 price target on shares of Darden Restaurants in a report on Wednesday, June 28th. Ameriprise Financial Inc. increased its holdings in Darden Restaurants by 3.0% in the 1st quarter. Jefferies Group LLC reiterated a "hold" rating and issued a $72.00 price objective on shares of Darden Restaurants in a research report on Wednesday, December 21st.

Among 14 analysts covering Enel (BIT:ENEL), 10 have Buy rating, 1 Sell and 3 Hold. Eaton Vance Mngmt holds 0% in Darden Restaurants, Inc.

Darden Restaurants, Inc.is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company's segments 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).

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