What’s Darden Restaurants, Inc. Upside After Today’s Bearish Options Activity?

 What's Darden Restaurants, Inc. Upside After Today's Bearish Options Activity?

In today’s session Darden Restaurants, Inc. (DRI) recorded an unusually high (176) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious DRI decrease. With 176 contracts traded and 10354 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: DRI161021P00062500 closed last at: $0.75 or 16.7% down. About 410,824 shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has declined 6.39% since March 15, 2016 and is downtrending. It has underperformed by 11.87% the S&P500.

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

Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 9 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 56% are positive. Darden Restaurants has been the topic of 28 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Buy” rating by Tigress Financial on Friday, June 24. The stock has “Sell” rating given by Stifel Nicolaus on Tuesday, July 26. Bernstein initiated the shares of DRI in a report on Thursday, May 26 with “Market Perform” rating. On Tuesday, August 25 the stock rating was downgraded by Zacks to “Strong-Buy”. The firm earned “Overweight” rating on Wednesday, April 6 by Barclays Capital. The firm earned “Underperform” rating on Friday, January 29 by Raymond James. The firm has “Hold” rating by Maxim Group given on Wednesday, September 30. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Overweight” rating by Piper Jaffray on Tuesday, May 17. The stock has “Buy” rating given by Maxim Group on Tuesday, February 16. Oppenheimer maintained Darden Restaurants, Inc. (NYSE:DRI) on Thursday, November 12 with “Outperform” rating.

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 1.09 in 2016 Q2. Its down 0.12, from 1.21 in 2016Q1. The ratio dropped, 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.
Guardian Ltd Partnership owns 10,441 shares or 0.01% of their US portfolio. Moreover, Zacks Inv Management has 0.04% invested in Darden Restaurants, Inc. (NYSE:DRI) for 18,944 shares. Moreover, Panagora Asset Management has 0.11% invested in Darden Restaurants, Inc. (NYSE:DRI) for 335,021 shares. Piershale Financial Gru Incorporated holds 926 shares or 0.04% of its portfolio. Moreover, Euclid Ltd Com has 0.03% invested in Darden Restaurants, Inc. (NYSE:DRI) for 10,302 shares. The Ohio-based Tru Of Toledo Na Oh has invested 0.42% in Darden Restaurants, Inc. (NYSE:DRI). The New Jersey-based Jacobs Levy Equity Mngmt has invested 0.07% in Darden Restaurants, Inc. (NYSE:DRI). Babson Cap Management Ltd Liability accumulated 34,627 shares or 0.06% of the stock. Choate Invest owns 13,336 shares or 0% of their US portfolio. Great West Life Assurance Can holds 0.03% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI) for 137,568 shares. Chevy Chase Holdg reported 101,661 shares or 0.04% of all its holdings. Finemark Natl Fincl Bank holds 0.01% or 1,609 shares in its portfolio. Daiwa Group Inc accumulated 0.01% or 36,250 shares. Jag Capital Management Ltd Liability has 1.9% invested in the company for 151,963 shares. Cambridge Inv Research Advisors Incorporated reported 9,635 shares or 0.01% of all its holdings.

Insider Transactions: Since July 7, 2016, the stock had 1 insider buy, and 1 sale for $2.12 million net activity. FOGARTY JAMES P bought $185,100 worth of stock or 3,000 shares. Kirgan Danielle L. also sold $2.31 million worth of Darden Restaurants, Inc. (NYSE:DRI) shares.

Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $7.79 billion. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. It has a 20.72 P/E ratio. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining ) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

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.

More recent Darden Restaurants, Inc. (NYSE:DRI) news were published by: Forbes.com which released: “Darden Restaurants Named Top Dividend Stock With Insider Buying and 3.68 …” on October 07, 2016. Also Wsj.com published the news titled: “Room for Seconds at Darden Restaurants” on October 03, 2016. Prnewswire.com‘s news article titled: “Research Reports Initiation on Restaurants Stocks — Darden Restaurants, Texas …” with publication date: October 17, 2016 was also an interesting one.

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