Wbi Investments adds Darden Restaurants (DRI) to its portfolio

Darden Restaurants (DRI) : Wbi Investments added new position in Darden Restaurants during the most recent quarter end. The investment management firm now holds 902,512 shares of Darden Restaurants which is valued at $56,632,628 , the company said in a statement filed on Aug 11, 2016 with the SEC.Darden Restaurants makes up approximately 1.99% of Wbi Investments’s portfolio.

Other Hedge Funds, Including , Hightower Advisors boosted its stake in DRI in the latest quarter, The investment management firm added 7,163 additional shares and now holds a total of 25,824 shares of Darden Restaurants which is valued at $1,620,456. Darden Restaurants makes up approx 0.02% of Hightower Advisors’s portfolio.Cetera Advisors boosted its stake in DRI in the latest quarter, The investment management firm added 14 additional shares and now holds a total of 3,855 shares of Darden Restaurants which is valued at $241,901. Darden Restaurants makes up approx 0.02% of Cetera Advisors’s portfolio.Wedge Capital Management L L Pnc boosted its stake in DRI in the latest quarter, The investment management firm added 182,220 additional shares and now holds a total of 1,036,093 shares of Darden Restaurants which is valued at $63,781,885. Darden Restaurants makes up approx 0.70% of Wedge Capital Management L L Pnc’s portfolio. Candriam Luxembourg S.c.a. sold out all of its stake in DRI during the most recent quarter. The investment firm sold 32,506 shares of DRI which is valued $1,939,958.Legacy Private Trust reduced its stake in DRI by selling 2,360 shares or 27.35% in the most recent quarter. The Hedge Fund company now holds 6,270 shares of DRI which is valued at $390,684. Darden Restaurants makes up approx 0.06% of Legacy Private Trust’s portfolio.

Darden Restaurants opened for trading at $61.91 and hit $62.52 on the upside on Tuesday, eventually ending the session at $62.46, with a gain of 1.59% or 0.98 points. The heightened volatility saw the trading volume jump to 10,40,199 shares. Company has a market cap of $7,883 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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