Price Change to Note: Is Buying 52-Week Stock Like Darden Restaurants, Inc. a Winning Strategy?

Price Change to Note: Is Buying 52 Week Stock Like Darden Restaurants, Inc. a Winning Strategy?

The stock of Darden Restaurants, Inc. (NYSE:DRI) hit a new 52-week high and has $77.11 target or 5.00% above today’s $73.44 share price. The 6 months bullish chart indicates low risk for the $9.09 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $77.11 price target is reached, the company will be worth $454.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 114,175 shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has risen 15.84% since April 20, 2016 and is uptrending. It has outperformed by 11.28% the S&P500.

Darden Restaurants, Inc. (NYSE:DRI) Ratings Coverage

Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 9 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 56% are positive. $80 is the highest target while $50 is the lowest. The $70.50 average target is -4.00% below today’s ($73.44) stock price. Darden Restaurants has been the topic of 29 analyst reports since August 25, 2015 according to StockzIntelligence Inc. As per Wednesday, April 6, the company rating was maintained by BTIG Research. On Friday, January 29 the stock rating was downgraded by Raymond James to “Underperform”. The stock has “Neutral” rating given by Suntrust Robinson on Thursday, October 8. Maxim Group maintained the shares of DRI in a report on Monday, December 21 with “Buy” rating. On Thursday, October 8 the stock rating was initiated by SunTrust with “Neutral”. Maxim Group maintained Darden Restaurants, Inc. (NYSE:DRI) on Tuesday, February 16 with “Buy” rating. Maxim Group maintained the shares of DRI in a report on Wednesday, November 11 with “Buy” rating. The firm earned “Hold” rating on Wednesday, September 30 by Maxim Group. The firm has “Sell” rating given on Tuesday, July 26 by Stifel Nicolaus. The firm has “Underperform” rating by Wells Fargo given on Wednesday, July 13.

According to Zacks Investment Research, “Darden Restaurants, Inc. is the world’s largest casual dining restaurant company based on market share, sales and number of company-owned and operated restaurants. Darden through its subsidiaries, engages in the ownership and operation of casual dining restaurants in the United States and Canada.”

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio turned negative, as 46 funds sold all Darden Restaurants, Inc. shares owned while 172 reduced positions. 56 funds bought stakes while 182 increased positions. They now own 115.09 million shares or 1.22% less from 116.51 million shares in 2016Q1.
Nikko Asset Management Americas has invested 0.07% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Finemark Savings Bank Trust has 1,609 shares for 0.01% of their US portfolio. Credit Agricole S A holds 0.05% or 212,150 shares in its portfolio. Laffer holds 0% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 27,378 shares. Td Asset Mgmt Incorporated, a Ontario – Canada-based fund reported 73,809 shares. Dai Ichi Life Insurance has 17,102 shares for 0.03% of their US portfolio. State Of Tennessee Treasury Department has invested 0.01% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Montgomery Investment Inc holds 0.15% or 5,000 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 106,984 shares. Massmutual Fsb Adv has 182 shares for 0% of their US portfolio. Herndon Mngmt Ltd Llc owns 11 shares or 0% of their US portfolio. Tudor Invest Corp Et Al owns 34,034 shares or 0.05% of their US portfolio. Cubist Systematic Strategies Lc accumulated 0.17% or 46,243 shares. Everpoint Asset Management Limited Liability Corporation holds 0.16% or 130,000 shares in its portfolio. Ftb Advsrs holds 97,134 shares or 0.83% of its portfolio.

Insider Transactions: Since July 7, 2016, the stock had 1 buying transaction, and 1 sale for $2.12 million net activity. Shares for $2.31 million were sold by Kirgan Danielle L.. $185,100 worth of Darden Restaurants, Inc. (NYSE:DRI) was bought by FOGARTY JAMES P on Thursday, July 7.

More news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Wsj.com, which released: “Room for Seconds at Darden Restaurants” on October 03, 2016. Forbes.com‘s article titled: “Short Interest In Darden Restaurants Makes 12.7% Move” and published on November 11, 2016 is yet another important article.

DRI Company Profile

Darden Restaurants, Inc., incorporated on March 30, 1995, is a full-service restaurant company. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements.

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