Saturday, June 25, 2022

Darden Restaurants Inc. [DRI] Director makes an insider purchase of 1,925 shares worth 248,354.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Darden Restaurants Inc. shares valued at $248,354 were purchased by CHUGG JULIANA L on Mar 28. At $129.01 per share, CHUGG JULIANA L acquired 1,925 shares. The insider’s holdings grew to 1,925 shares worth approximately $0.22 million following the completion of this transaction.

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Also, LEE EUGENE I JR sold 76,725 shares, netting a total of over 11,691,397 in proceeds. Following the sale of shares at $152.38 each, the insider now holds 222,480 shares.

Before that, ATKINS M SHAN had sold 3,123 shares from its account. In a trade valued at $471,917, the Director traded Darden Restaurants Inc. shares for $151.11 each. Upon closing the transaction, the insider’s holdings decreased to 3,123 shares, worth approximately $0.31 million.

As published in a research note from Oppenheimer on June 22, 2022, Darden Restaurants Inc. [DRI] has been retained to an Outperform and the price target has been revised to $155. This represents a 25.73% premium over Wednesday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of December 22, 2021, Stifel has increased its “Hold” rating to a “Buy” for DRI. Earlier on August 09, 2021, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for DRI stock which previously was a “an Outperform”.

Analyzing DRI’s Price Performance

On Wednesday, Darden Restaurants Inc. [NYSE: DRI] rose 1.25% to $115.12. The stock’s lowest price that day was $112.23, but it reached a high of $116.30 in the same session. During the last five days, there has been a surge of approximately 0.96%. Over the course of the year, Darden Restaurants Inc. shares have dropped approximately -23.58%. Shares of the company reached a 52-week high of $155.25 on 01/05/22 and a 52-week low of $110.96 on 06/16/22. A 50-day SMA is recorded $125.42, while a 200-day SMA reached $138.94. Nevertheless, trading volume fell to 2.05 million shares from 1.71 million shares the previous day.

Support And Resistance Levels for Darden Restaurants Inc. (DRI)

According to the 24-hour chart, there is a support level at 112.80, which, if violated, would cause prices to drop to 110.48. In the upper region, resistance lies at 116.87. The next price resistance is at 118.62. RSI (Relative Strength Index) is 40.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.02, which suggests the price will decrease in the coming days. Percent R is at 74.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Darden Restaurants Inc. subject to short interest?

Stocks of Darden Restaurants Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.81 million shares to 4.66 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 3.85 million shares. A jump of 17.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.33.

Which companies own the most shares of Darden Restaurants Inc. (DRI)?

According to Capital Research & Management Co filings, the company currently owns 15,832,043 shares, which is about 12.69% of the total DRI shares outstanding. The investor’s shares have appreciated by 857,052 from its previous 13-F filing of 14974991.0 shares. With the completion of the sale, Capital Research & Management Co’s stake is now worth $1,954,860,250. The Vanguard Group, Inc. acquire a 2.85% interest valued at $1.73 billion while BlackRock Fund Advisors sold a -235,815 stake. A total of -114,492 shares of Darden Restaurants Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 110,447 were bought by Geode Capital Management LLC. In its current portfolio, Columbia Management Investment Ad holds 2,345,840 shares valued at $293.23 million.

In terms of Darden Restaurants Inc. share price expectations, FactSet research, analysts set an average price target of $147.89 in the next 12 months, up nearly 31.93% from the previous closing price of $113.70. Analysts anticipate Darden Restaurants Inc. stock to reach $180.00 by 2022, with the lowest price target being $122.00. In spite of this, 28 analysts ranked Darden Restaurants Inc. stock as an Overweight at the end of 2022. On June 25, 2021, MKM Partners assigned a price target of “a Buy” to the stock and upgraded coverage with a $168.

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