Darden Restaurants (DRI) : Argent Capital Management reduced its stake in Darden Restaurants by 0.29% during the most recent quarter end. The investment management company now holds a total of 855,008 shares of Darden Restaurants which is valued at $53,583,351 after selling 2,518 shares in Darden Restaurants , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Darden Restaurants makes up approximately 2.27% of Argent Capital Management’s portfolio.
Other Hedge Funds, Including , Scout Investments reduced its stake in DRI by selling 22,629 shares or 5.41% in the most recent quarter. The Hedge Fund company now holds 395,409 shares of DRI which is valued at $24,780,282. Darden Restaurants makes up approx 0.66% of Scout Investments’s portfolio. Princeton Alpha Management Lp added DRI to its portfolio by purchasing 41,658 company shares during the most recent quarter which is valued at $2,600,292. Darden Restaurants makes up approx 0.44% of Princeton Alpha Management Lp’s portfolio. Cwm sold out all of its stake in DRI during the most recent quarter. The investment firm sold 11,156 shares of DRI which is valued $697,919.
Darden Restaurants closed down -0.38 points or -0.61% at $62.37 with 12,42,521 shares getting traded on Monday. Post opening the session at $62.67, the shares hit an intraday low of $62.34 and an intraday high of $62.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Darden Restaurants reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $1.09. The company had revenue of $1790.20 million for the quarter, compared to analysts expectations of $1817.58 million. The company’s revenue was down -4.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.08 EPS.
Many Wall Street Analysts have commented on Darden Restaurants. Stifel Downgraded Darden Restaurants on Jul 26, 2016 to ” Sell”, Price Target of the shares are set at $53.Darden Restaurants was Downgraded by Wells Fargo to ” Market Perform” on Jul 13, 2016. Shares were Reiterated by Maxim Group on Jul 1, 2016 to “Buy” and Lowered the Price Target to $ 74 from a previous price target of $77 .
Darden Restaurants Inc. is a full service restaurant company. The Company owns and operates more than 1500 restaurants. The Company’s restaurant brands include Olive Garden LongHorn Steakhouse Bahama Breeze Seasons 52 The Capital Grille Eddie V’s Prime Seafood Wildfish Seafood Grill and Yard House. Through subsidiaries the Company owns and operates all of its restaurants in the United States and Canada except for three restaurants located in Florida and three restaurants in California which are owned jointly by the Company and third parties and managed by the Company seven franchised restaurants in Puerto Rico and one Atlanta Georgia airport location.