Selling Buzz: Darden Restaurants Inc. [DRI] Executive Chairman LEE EUGENE I JR sells 41,442 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Darden Restaurants Inc. shares valued at $5,168,253 were sold by LEE EUGENE I JR on Aug 02. At $124.71 per share, LEE EUGENE I JR sold 41,442 shares. The insider’s holdings dropped to 222,480 shares worth approximately $27.91 million following the completion of this transaction.


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Also, MENSAH NANA sold 567 shares, netting a total of over 66,355 in proceeds. Following the sale of shares at $117.03 each, the insider now holds 10 shares.

Before that, WILMOTT TIMOTHY J had added 10,000 shares to its account. In a trade valued at $1,200,000, the Director bought Darden Restaurants Inc. shares for $120.00 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $3.4 million.

As published in their initiating research note from Bernstein on September 08, 2022, Darden Restaurants Inc. [DRI] has been an Outperform and the price target has been revised to $153. This represents a 18.01% premium over Thursday’s closing price. As of June 22, 2022, Oppenheimer has reiterated its “an Outperform” rating for DRI. Earlier on April 12, 2022, Citigroup initiated its rating. Their recommendation was “a Buy” for DRI stock.

Analyzing DRI’s Price Performance

On Thursday, Darden Restaurants Inc. [NYSE: DRI] plunged -4.44% to $125.45. The stock’s lowest price that day was $124.41, but it reached a high of $129.16 in the same session. During the last five days, there has been a drop of approximately -3.82%. Over the course of the year, Darden Restaurants Inc. shares have dropped approximately -16.72%. 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 $126.36, while a 200-day SMA reached $131.05. Nevertheless, trading volume fell to 2.55 million shares from 2.0 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 123.52, which, if violated, would cause prices to drop to 121.59. In the upper region, resistance lies at 128.27. The next price resistance is at 131.09. RSI (Relative Strength Index) is 44.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 75.92%, 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 steep in short interest on Jul 14, 2022 dropping by -0.42 million shares to 4.83 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.25 million shares. A decline of -8.7% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.07 of the overall float, the days-to-cover ratio (short ratio) decline to 3.07.

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

According to Capital Research & Management Co filings, the company currently owns 15,849,338 shares, which is about 12.71% of the total DRI shares outstanding. The investor’s shares have appreciated by 17,295 from its previous 13-F filing of 15832043.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,935,258,375. The Vanguard Group, Inc. reduced a -0.49% interest valued at $1.7 billion while BlackRock Fund Advisors sold a -32,455 stake. A total of -405,219 shares of Darden Restaurants Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 1,011,285 were bought by Wellington Management Co. LLP. In its current portfolio, Geode Capital Management LLC holds 2,443,231 shares valued at $302.25 million.

In spite of this, 31 analysts ranked Darden Restaurants Inc. stock as an Overweight at the end of 2022. On December 22, 2021, Stifel assigned a price target of “a Buy” to the stock and upgraded coverage with a $165.

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