Cibc World Market Inc. Purchases Shares of 47,683 Darling Ingredients Inc. $DAR

Key Points

• CIBC World Market acquired 47,683 shares of Darling Ingredients during the second quarter, valued at approximately $2.6 million. Institutional investors and hedge funds own 94.44% of the company’s stock.
• Darling Ingredients reported quarterly EPS of $2.41, beating analyst estimates of $1.40, while revenue reached $1.72 billion, up 16.4% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $69.00. Company insiders, however, sold 10,591 shares worth about $704,303 over the past 90 days.

Cibc World Market Inc. acquired a new stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,683 shares of the company's stock, valued at approximately $2,604,000.

Several other hedge funds have also recently made changes to their positions in DAR. SJS Investment Consulting Inc. boosted its position in Darling Ingredients by 69.9% in the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after buying an additional 174 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its stake in shares of Darling Ingredients by 2.6% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company's stock valued at $472,000 after buying an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Darling Ingredients by 2.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company's stock valued at $481,000 after buying an additional 220 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Darling Ingredients by 3.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company's stock worth $277,000 after buying an additional 267 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC grew its stake in shares of Darling Ingredients by 35.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company's stock worth $64,000 after purchasing an additional 270 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $62.56 on Thursday. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $69.98. The stock has a market cap of $9.87 billion, a P/E ratio of 16.86 and a beta of 1.02. The company has a 50-day moving average price of $60.31 and a 200 day moving average price of $58.68. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Nicholas James Kemphaus sold 1,591 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the transaction, the executive vice president directly owned 35,087 shares in the company, valued at approximately $2,212,235.35. This represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Mcnutt sold 8,000 shares of Darling Ingredients stock in a transaction on Friday, August 14th. The shares were sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the sale, the executive vice president directly owned 35,777 shares of the company's stock, valued at $2,400,278.93. The trade was a 18.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,591 shares of company stock valued at $704,303 over the last 90 days. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

DAR has been the subject of several recent analyst reports. TD Cowen lifted their price target on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Barclays increased their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group raised their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $69.00.

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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