Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Darden Restaurants Inc. shares valued at $12,147,906 were sold by LEE EUGENE I JR on Mar 28. At $153.93 per share, LEE EUGENE I JR sold 78,916 shares. The insider’s holdings dropped to 199,856 shares worth approximately $32.07 million following the completion of this transaction.
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Also, Cardenas Ricardo sold 12,735 shares, netting a total of over 1,974,162 in proceeds. Following the sale of shares at $155.02 each, the insider now holds 48,304 shares.
Before that, Madonna John W. had sold 5,109 shares from its account. In a trade valued at $784,329, the SVP, Corporate Controller traded Darden Restaurants Inc. shares for $153.52 each. Upon closing the transaction, the insider’s holdings decreased to 5,109 shares, worth approximately $0.85 million.
Analyzing DRI Stock Performance
On Wednesday, Darden Restaurants Inc. [NYSE: DRI] plunged -0.07% to $160.46. The stock’s lowest price that day was $159.965, but it reached a high of $162.32 in the same session. During the last five days, there has been a surge of approximately 1.12%. Over the course of the year, Darden Restaurants Inc. shares have jumped approximately 16.00%. Shares of the company reached a 52-week high of $163.42 on 05/22/23 and a 52-week low of $137.93 on 01/03/23. A 50-day SMA is recorded $152.55, while a 200-day SMA reached $142.45. Nevertheless, trading volume fell to 1.28 million shares from 1.29 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 159.51, which, if violated, would cause prices to drop to 158.56. In the upper region, resistance lies at 161.87. The next price resistance is at 163.27. RSI (Relative Strength Index) is 65.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.91, which suggests the price will increase in the coming days. Percent R is at 17.28%, indicating bullish price movement. Stochastics %K at selling 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 27, 2023 jumping by 0.94 million shares to 6.06 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 5.12 million shares. A jump of 15.51% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.17.
Which companies own the most shares of Darden Restaurants Inc. (DRI)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,796,484 shares, which is about 11.41% of the total DRI shares outstanding. The investor’s shares have appreciated by 44,209 from its previous 13-F filing of 13752275.0 shares. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $2,023,145,763. Capital Research & Management Co reduced a -7.62% interest valued at $1.92 billion while BlackRock Fund Advisors purchased a 132,077 stake. A total of -39,502 shares of Darden Restaurants Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 54,085 were bought by Geode Capital Management LLC. In its current portfolio, Charles Schwab Investment Managem holds 2,428,528 shares valued at $368.97 million.
In terms of Darden Restaurants Inc. share price expectations, FactSet research, analysts set an average price target of $164.38 in the next 12 months, up nearly 2.76% from the previous closing price of $160.57. Analysts anticipate Darden Restaurants Inc. stock to reach $180.00 by 2023, with the lowest price target being $150.00. In spite of this, 29 analysts ranked Darden Restaurants Inc. stock as an Overweight at the end of 2023.