An Analysis of Darden Restaurants Inc. (DRI)’s Potential Price Growth


Darden Restaurants Inc.’s filing revealed that its Chairman of the Board LEE EUGENE I JR unloaded Company’s shares for reported $12.47 million on Aug 01. In the deal valued at $166.90 per share,74,741 shares were sold. As a result of this transaction, LEE EUGENE I JR now holds 157,957 shares worth roughly $ 24.57 million.

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Then, Vennam Rajesh sold 5,314 shares, generating $898,473 in total proceeds. Upon selling the shares at $169.08, the SVP, CFO now owns 5,958 shares.

Before that, LEE EUGENE I JR sold 35,446 shares. Darden Restaurants Inc. shares valued at $6,020,361 were divested by the Chairman of the Board at a price of $169.85 per share. As a result of the transaction, LEE EUGENE I JR now holds 157,957 shares, worth roughly $24.57 million.

Piper Sandler initiated its Darden Restaurants Inc. [DRI] rating to a Neutral in a research note published on Friday, July 18, 2023; the price target was $167. PT values the company’s stock at a premium of 6.85 to its Friday closing price.

Price Performance Review of DRI

On Friday, Darden Restaurants Inc. [NYSE:DRI] saw its stock jump 0.03% to $155.56. On the same session, the stock had its day’s lowest price of $154.05, but rose to a high of $157.16. Over the last five days, the stock has lost -0.28%. Darden Restaurants Inc. shares have risen nearly 12.46% since the year began. Nevertheless, the stocks have risen 25.75% over the past one year. While a 52-week high of $173.06 was reached on 07/21/23, a 52-week low of $120.20 was recorded on 01/03/23. SMA at 50 days reached $163.51, while 200 days put it at $153.45. A total of 0.87 million shares were traded, compared to the trading of 0.87 million shares in the previous session.

Levels Of Support And Resistance For DRI Stock

The 24-hour chart illustrates a support level at 154.02, which if violated will result in even more drops to 152.48. On the upside, there is a resistance level at 157.13. A further resistance level may holdings at 158.70. The Relative Strength Index (RSI) on the 14-day chart is 35.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.40%. Stochastics %K at 22.73% indicates the stock is a holding.

How much short interest is there in Darden Restaurants Inc.?

A steep rise in short interest was recorded in Darden Restaurants Inc. stocks on Aug 14, 2023, dropping by -1.41 million shares to a total of 4.85 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.26 million shares. There was a decline of -29.07%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.13% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.41.

According to FactSet, Darden Restaurants Inc.’s share price will average $175.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.5 percent from its previous closing price of $155.51. Analysts expect Darden Restaurants Inc. stock to reach the higher price of $195.00, while the lowest price estimate is $154.00. However, 28 analysts have rated DRI stock as an Overweight in their predictions for 2023.


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