Darling Ingredients Inc. $DAR Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 700,274 shares of the company’s stock after buying an additional 24,456 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Darling Ingredients were worth $43,312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DAR. Norges Bank acquired a new stake in Darling Ingredients in the 4th quarter valued at about $94,211,000. No Street GP LP bought a new stake in shares of Darling Ingredients in the 3rd quarter worth approximately $69,458,000. Assenagon Asset Management S.A. raised its holdings in shares of Darling Ingredients by 72.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock worth $129,388,000 after purchasing an additional 882,185 shares in the last quarter. Rubric Capital Management LP acquired a new stake in Darling Ingredients during the fourth quarter valued at approximately $24,510,000. Finally, Amundi grew its position in Darling Ingredients by 177.7% in the fourth quarter. Amundi now owns 864,400 shares of the company’s stock worth $31,119,000 after buying an additional 553,081 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer owned 19,969 shares in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DAR. Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. Jefferies Financial Group lifted their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wall Street Zen downgraded Darling Ingredients from a “buy” rating to a “hold” rating in a report on Saturday. Robert W. Baird increased their price target on Darling Ingredients from $64.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.45.

Darling Ingredients Trading Up 2.9%

Darling Ingredients stock opened at $54.69 on Wednesday. The company has a 50 day moving average price of $58.93 and a 200 day moving average price of $52.19. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $66.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 39.63 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the company posted ($0.16) EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that Darling Ingredients Inc. will post 4.59 EPS for the current year.

Darling Ingredients Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.