Bank of America Corp DE Decreases Holdings in Darling Ingredients Inc. $DAR

Key Points

• Bank of America reduced its Darling Ingredients stake by 38% in the first quarter, selling 1.44 million shares and retaining 2.34 million shares valued at approximately $145 million.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $69.
• Darling Ingredients reported strong quarterly results, posting $2.41 in EPS versus the $1.40 estimate and $1.72 billion in revenue, up 16.4% year over year.

Bank of America Corp DE lessened its stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 38.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,344,837 shares of the company's stock after selling 1,438,027 shares during the quarter. Bank of America Corp DE owned approximately 1.48% of Darling Ingredients worth $145,028,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in shares of Darling Ingredients during the third quarter worth $25,000. Allworth Financial LP grew its holdings in shares of Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company's stock worth $26,000 after purchasing an additional 509 shares in the last quarter. SJS Investment Consulting Inc. raised its position in shares of Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after buying an additional 174 shares in the last quarter. Litman Gregory Wealth Management LLC purchased a new stake in Darling Ingredients during the fourth quarter valued at about $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Darling Ingredients during the 4th quarter valued at about $35,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DAR shares. Weiss Ratings raised shares of Darling Ingredients from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 15th. Scotiabank upped their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Zacks Research cut Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. TD Cowen lifted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Wall Street Zen raised Darling Ingredients from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.00.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $57.86 on Thursday. The firm's 50 day moving average price is $58.53 and its 200-day moving average price is $56.53. The stock has a market capitalization of $9.20 billion, a PE ratio of 15.60 and a beta of 1.02. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02. The company has a quick ratio of 1.03, a current ratio of 3.89 and a debt-to-equity ratio of 0.13.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 13.23%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts expect that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Insider Activity

In other news, Director Charles L. Adair acquired 1,000 shares of Darling Ingredients stock in a transaction dated Friday, July 31st. The stock was purchased at an average cost of $60.97 per share, with a total value of $60,970.00. Following the completion of the purchase, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. This trade represents a 1.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Company 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.

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