New England Research Management buys $1,314,306 stake in Darden Restaurants (DRI)

Darden Restaurants (DRI) : New England Research Management scooped up 12,350 additional shares in Darden Restaurants during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 21,350 shares of Darden Restaurants which is valued at $1,314,306.Darden Restaurants makes up approximately 1.11% of New England Research Management’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings boosted its stake in DRI in the latest quarter, The investment management firm added 7,810 additional shares and now holds a total of 109,471 shares of Darden Restaurants which is valued at $6,739,035. Darden Restaurants makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio.

Darden Restaurants opened for trading at $63.6 and hit $63.9 on the upside on Tuesday, eventually ending the session at $61.72, with a gain of 0.59% or 0.36 points. The heightened volatility saw the trading volume jump to 65,14,987 shares. Company has a market cap of $7,790 M.

On the company’s financial health, Darden Restaurants reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 4, 2016. Analyst had a consensus of $0.82. The company had revenue of $17114.40 million for the quarter, compared to analysts expectations of $1719.41 million. The company’s revenue was up 914.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Darden Restaurants. Shares were Reiterated by Stifel on Oct 3, 2016 to “Sell” and Lowered the Price Target to $ 50 from a previous price target of $53 .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.

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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