Darden Restaurants Sees Unusually High Options Volume (DRI)
Darden Restaurants, Inc. (NYSE:DRI) was the recipient of unusually large options trading on Monday. Investors bought 25,604 call options on the company. This represents an increase of approximately 1,415% compared to the typical volume of 1,690 call options.
In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares in the company, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in DRI. BlackRock Inc. boosted its holdings in Darden Restaurants by 4,601.4% in the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock valued at $959,215,000 after purchasing an additional 11,220,403 shares during the period. Janus Henderson Group PLC boosted its holdings in Darden Restaurants by 3,640.4% in the second quarter. Janus Henderson Group PLC now owns 737,685 shares of the restaurant operator’s stock valued at $66,717,000 after purchasing an additional 717,963 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Darden Restaurants by 66.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after purchasing an additional 510,969 shares during the period. Vanguard Group Inc. boosted its holdings in Darden Restaurants by 3.6% in the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after purchasing an additional 487,366 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after purchasing an additional 443,669 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.
A number of research firms recently issued reports on DRI. Robert W. Baird restated a “neutral” rating and set a $94.00 price objective (up previously from $90.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Darden Restaurants in a report on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $100.00 price objective on shares of Darden Restaurants in a report on Wednesday. Royal Bank Of Canada restated a “sector perform” rating and set a $96.00 price objective (up previously from $86.00) on shares of Darden Restaurants in a report on Tuesday, June 27th. Finally, Deutsche Bank AG boosted their price objective on Darden Restaurants from $84.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $85.18.
Darden Restaurants (NYSE DRI) opened at 83.80 on Thursday. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 22.04 and a beta of 0.27. Darden Restaurants has a 52-week low of $60.16 and a 52-week high of $95.22. The stock has a 50 day moving average price of $82.69 and a 200 day moving average price of $84.83.
Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. Darden Restaurants’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. On average, equities analysts expect that Darden Restaurants will post $4.47 earnings per share for the current year.
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About Darden Restaurants
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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