Cohen & Steers Inc. lessened its stake in shares of Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,766 shares of the company’s stock after selling 31,715 shares during the period. Cohen & Steers Inc. owned 0.07% of Darling Ingredients worth $9,145,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its position in shares of Darling Ingredients by 1.3% in the fourth quarter. State Street Corp now owns 4,346,799 shares of the company’s stock valued at $301,190,000 after acquiring an additional 54,726 shares during the period. Marshall Wace LLP lifted its position in Darling Ingredients by 1,257.1% in the fourth quarter. Marshall Wace LLP now owns 4,126,968 shares of the company’s stock worth $285,958,000 after purchasing an additional 3,822,875 shares during the period. Impax Asset Management Group plc lifted its position in Darling Ingredients by 38.3% in the fourth quarter. Impax Asset Management Group plc now owns 4,044,181 shares of the company’s stock worth $279,274,000 after purchasing an additional 1,120,368 shares during the period. Artemis Investment Management LLP lifted its position in Darling Ingredients by 25.8% in the first quarter. Artemis Investment Management LLP now owns 2,496,559 shares of the company’s stock worth $200,392,000 after purchasing an additional 511,366 shares during the period. Finally, Geode Capital Management LLC lifted its position in Darling Ingredients by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,030,701 shares of the company’s stock worth $140,707,000 after purchasing an additional 30,411 shares during the period. 91.43% of the stock is owned by institutional investors.
Analyst Ratings Changes
DAR has been the subject of several research reports. Robert W. Baird raised their target price on Darling Ingredients from $100.00 to $109.00 in a research report on Thursday, August 11th. Scotiabank initiated coverage on Darling Ingredients in a research report on Thursday. They issued a “sector outperform” rating and a $101.00 target price for the company. Piper Sandler raised their target price on Darling Ingredients from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. Cowen reduced their target price on Darling Ingredients to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Raymond James lifted their price objective on Darling Ingredients from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, August 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.88.
Darling Ingredients Stock Up 2.0 %
Darling Ingredients (NYSE:DAR – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Darling Ingredients had a net margin of 12.56% and a return on equity of 20.34%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.17 earnings per share. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, equities research analysts expect that Darling Ingredients Inc. will post 5.29 earnings per share for the current fiscal year.
Darling Ingredients Profile
Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.
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