Darden Restaurants, Inc.’s recently made public that its President, SRG Martin Melvin John unloaded Company’s shares for reported $0.52 million on Mar 28 ’24. In the deal valued at $167.62 per share,3,100 shares were sold. As a result of this transaction, Martin Melvin John now holds 14,108 shares worth roughly $2.21 million.
Then, Martin Melvin John sold 7,673 shares, generating $1,270,037 in total proceeds. Upon selling the shares at $165.52, the President, SRG now owns 17,208 shares.
Before that, Broad Matthew R sold 6,831 shares. Darden Restaurants, Inc. shares valued at $1,115,257 were divested by the SVP General Counsel at a price of $163.26 per share. As a result of the transaction, Broad Matthew R now holds 19,141 shares, worth roughly $2.99 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 Friday, Darden Restaurants, Inc. [NYSE:DRI] saw its stock fall -1.36% to $156.35. Over the last five days, the stock has lost -6.46%. Darden Restaurants, Inc. shares have fallen nearly -4.84% since the year began. Nevertheless, the stocks have risen 2.13% 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 $167.30, while 200 days put it at $158.86. A total of 1.47 million shares were traded, compared to the trading of 1.83 million shares in the previous session.
Levels Of Support And Resistance For DRI Stock
The 24-hour chart illustrates a support level at 155.68, which if violated will result in even more drops to 155.01. On the upside, there is a resistance level at 157.59. A further resistance level may holdings at 158.83. The Relative Strength Index (RSI) on the 14-day chart is 30.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.47%. Stochastics %K at 3.56% indicates the stock is a buying.
How much short interest is there in Darden Restaurants, Inc.?
A steep rise in short interest was recorded in Darden Restaurants, Inc. stocks on Mar 15, 2024, dropping by -0.34 million shares to a total of 5.44 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.78 million shares. There was a decline of -6.25%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.78.
