Darden Restaurants (DRI) : Starboard Value Lp reduced its stake in Darden Restaurants by 43.15% during the most recent quarter end. The investment management company now holds a total of 6,615,000 shares of Darden Restaurants which is valued at $418.8 Million after selling 5,020,000 shares in Darden Restaurants , the firm said in a disclosure report filed with the SEC on May 13, 2016.Darden Restaurants makes up approximately 17.89% of Starboard Value Lp’s portfolio.
Other Hedge Funds, Including , Hbk Investments L P reduced its stake in DRI by selling 1,998 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 815,002 shares of DRI which is valued at $51.6 Million. Darden Restaurants makes up approx 1.14% of Hbk Investments L P’s portfolio.Blackrock Group Ltd boosted its stake in DRI in the latest quarter, The investment management firm added 60,947 additional shares and now holds a total of 1,233,733 shares of Darden Restaurants which is valued at $78.1 Million. Darden Restaurants makes up approx 0.04% of Blackrock Group Ltd’s portfolio.Sva Plumb Wealth Management reduced its stake in DRI by selling 3,402 shares or 24.59% in the most recent quarter. The Hedge Fund company now holds 10,432 shares of DRI which is valued at $660,450. Darden Restaurants makes up approx 0.11% of Sva Plumb Wealth Management’s portfolio.Advantus Capital Management Inc boosted its stake in DRI in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 11,052 shares of Darden Restaurants which is valued at $699,702. Darden Restaurants makes up approx 0.02% of Advantus Capital Management Inc’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.