Asset Management Group Lowers stake in Darden Restaurants (DRI)

Darden Restaurants (DRI) : Asset Management Group reduced its stake in Darden Restaurants by 19.34% during the most recent quarter end. The investment management company now holds a total of 8,415 shares of Darden Restaurants which is valued at $528,041 after selling 2,018 shares in Darden Restaurants , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Darden Restaurants makes up approximately 0.22% of Asset Management Group’s portfolio.

Other Hedge Funds, Including , Piedmont Investment Advisors reduced its stake in DRI by selling 1,079 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 57,995 shares of DRI which is valued at $3,639,186. Darden Restaurants makes up approx 0.07% of Piedmont Investment Advisors’s portfolio.Stevens Capital Management Lp reduced its stake in DRI by selling 100,258 shares or 49.8% in the most recent quarter. The Hedge Fund company now holds 101,063 shares of DRI which is valued at $6,341,703. Darden Restaurants makes up approx 0.24% of Stevens Capital Management Lp’s portfolio.

Darden Restaurants opened for trading at $61.65 and hit $61.9 on the upside on Thursday, eventually ending the session at $61.89, with a gain of 0.41% or 0.25 points. The heightened volatility saw the trading volume jump to 13,26,702 shares. Company has a market cap of $7,811 M.

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.

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