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

Darden Restaurants, Inc.’s recently made public that its SVP General Counsel Broad Matthew R unloaded Company’s shares for reported $1.12 million on Jan 31 ’24. In the deal valued at $163.26 per share,6,831 shares were sold. As a result of this transaction, Broad Matthew R now holds 19,141 shares worth roughly $3.29 million.

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Then, Madonna John W. sold 3,836 shares, generating $628,333 in total proceeds. Upon selling the shares at $163.80, the SVP, Corporate Controller now owns 6,971 shares.

Before that, Martin Melvin John sold 6,967 shares. Darden Restaurants, Inc. shares valued at $1,150,410 were divested by the President, SRG at a price of $165.12 per share. As a result of the transaction, Martin Melvin John now holds 17,159 shares, worth roughly $2.95 million.

Deutsche Bank initiated its Darden Restaurants, Inc. [DRI] rating to a Buy in a research note published on October 19, 2023; the price target was $159. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in mid July with a ‘”a Neutral”‘ rating. Guggenheim began covering DRI with “Buy” recommendation on February 02, 2023. Wells Fargo started covering the stock on January 24, 2023. It rated DRI as “an Equal weight”.

Price Performance Review of DRI

On Monday, Darden Restaurants, Inc. [NYSE:DRI] saw its stock jump 0.14% to $171.81. Over the last five days, the stock has lost -1.29%. Darden Restaurants, Inc. shares have risen nearly 4.57% since the year began. Nevertheless, the stocks have risen 18.77% over the past one year. While a 52-week high of $176.84 was reached on 03/04/24, a 52-week low of $133.36 was recorded on 01/16/24. SMA at 50 days reached $165.04, while 200 days put it at $158.50. A total of 0.84 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 170.59, which if violated will result in even more drops to 169.36. On the upside, there is a resistance level at 172.81. A further resistance level may holdings at 173.80. The Relative Strength Index (RSI) on the 14-day chart is 59.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.99, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.12%. Stochastics %K at 65.50% 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 Feb 29, 2024, dropping by -0.52 million shares to a total of 5.56 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.08 million shares. There was a decline of -9.35%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.17% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.48.

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