Darden Restaurants (DRI) : Hbk Investments L P reduced its stake in Darden Restaurants by 4.04% during the most recent quarter end. The investment management company now holds a total of 782,102 shares of Darden Restaurants which is valued at $56,710,216 after selling 32,900 shares in Darden Restaurants , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Darden Restaurants makes up approximately 1.26% of Hbk Investments L P’s portfolio.
Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership sold out all of its stake in DRI during the most recent quarter. The investment firm sold 3,900 shares of DRI which is valued $282,789.Chicago Equity Partners reduced its stake in DRI by selling 63,630 shares or 88.71% in the most recent quarter. The Hedge Fund company now holds 8,100 shares of DRI which is valued at $524,799. Darden Restaurants makes up approx 0.01% of Chicago Equity Partners’s portfolio.
Darden Restaurants opened for trading at $72.44 and hit $72.85 on the upside on Monday, eventually ending the session at $72.84, with a gain of 0.51% or 0.37 points. The heightened volatility saw the trading volume jump to 13,96,795 shares. Company has a market cap of $8,965 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. Darden Restaurants was Upgraded by Raymond James to ” Mkt Perform” on Oct 18, 2016. 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 .
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.