Hbk Investments L P Lowers stake in Darden Restaurants (DRI)

Darden Restaurants (DRI) : Hbk Investments L P reduced its stake in Darden Restaurants by 0.24% during the most recent quarter end. The investment management company now holds a total of 815,002 shares of Darden Restaurants which is valued at $51.6 Million after selling 1,998 shares in Darden Restaurants , the firm said in a disclosure report filed with the SEC on May 13, 2016.Darden Restaurants makes up approximately 1.14% of Hbk Investments L P’s portfolio.

Other Hedge Funds, Including , L S Advisors Inc added DRI to its portfolio by purchasing 57,255 company shares during the most recent quarter which is valued at $3.6 Million. Darden Restaurants makes up approx 0.90% of L S Advisors Inc’s portfolio.Nationwide Fund Advisors reduced its stake in DRI by selling 246,016 shares or 29.69% in the most recent quarter. The Hedge Fund company now holds 582,562 shares of DRI which is valued at $36.4 Million. Darden Restaurants makes up approx 0.16% of Nationwide Fund Advisors’s portfolio.Montecito Bank Trust reduced its stake in DRI by selling 798 shares or 18.78% in the most recent quarter. The Hedge Fund company now holds 3,452 shares of DRI which is valued at $215,715. Darden Restaurants makes up approx 0.10% of Montecito Bank Trust’s portfolio. Waratah Capital Advisors Ltd. added DRI to its portfolio by purchasing 4,210 company shares during the most recent quarter which is valued at $263,083. Darden Restaurants makes up approx 0.05% of Waratah Capital Advisors Ltd.’s portfolio.Nisa Investment Advisors L.l.c. reduced its stake in DRI by selling 8,400 shares or 18.12% in the most recent quarter. The Hedge Fund company now holds 37,946 shares of DRI which is valued at $2.4 Million. Darden Restaurants makes up approx 0.03% of Nisa Investment Advisors L.l.c.’s portfolio.

Darden Restaurants opened for trading at $65.87 and hit $66.535 on the upside on Wednesday, eventually ending the session at $66.25, with a gain of 0.68% or 0.45 points. The heightened volatility saw the trading volume jump to 13,48,528 shares. Company has a market cap of $8,396 M.

On the company’s financial health, Darden Restaurants reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 5, 2016. Analyst had a consensus of $1.20. The company had revenue of $1847.50 million for the quarter, compared to analysts expectations of $1845.88 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.

Many Wall Street Analysts have commented on Darden Restaurants. Company shares were Upgraded by Piper Jaffray on May 17, 2016 to ” Overweight”, Firm has raised the Price Target to $ 78 from a previous price target of $67 .Shares were Reiterated by Maxim Group on Apr 6, 2016 to “Buy” and Lowered the Price Target to $ 77 from a previous price target of $79 .Shares were Reiterated by Barclays on Apr 6, 2016 to “Overweight” and Lowered the Price Target to $ 80 from a previous price target of $81 .

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.

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