Barington Capital Group, an investor pushing for change at Darden Restaurants Inc, on Tuesday released its detailed plan for improving the parent of the Olive Garden and Red Lobster chains. The report comes after Barington's financial advisor, Houlihan Lokey, reviewed the recommendations.New York-based Barington, which represents a shareholder group that owns a stake of more than 2 percent in Darden, said in its report that the company might be worth $71 to $80 per share. That would be as much as 73 percent more than its closing price on Oct. 8, before Barington's stake was reported.Shares of Darden were up 1.2 percent at $52.93 in early trading.The company, which manages eight restaurant brands, has become too large and complex to compete effectively with its rivals, Barington has said previously.
Darden Restaurants, Inc. is a full service restaurant company. Shares of DRI traded higher by 1.36% or $0.709/share to $53.00. In the past year, the shares have traded as low as $44.11 and as high as $55.25. On average, 1905590 shares of DRI exchange hands on a given day and today's volume is recorded at 117604.
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