Darling Ingredients Inc. $DAR Shares Sold by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management reduced its Darling Ingredients stake by 25.7% in the first quarter, selling 44,060 shares and leaving it with 127,347 shares worth about $7.88 million.
• Several other institutional investors were active in the stock, and overall 94.44% of Darling Ingredients shares are held by institutions.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus rating with an average price target of $67.45, though some firms recently trimmed targets or downgraded the shares.

Peregrine Capital Management LLC cut its stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 25.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,347 shares of the company's stock after selling 44,060 shares during the period. Peregrine Capital Management LLC owned 0.08% of Darling Ingredients worth $7,876,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Darling Ingredients by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock valued at $20,119,000 after purchasing an additional 93,408 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Darling Ingredients by 10.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company's stock worth $18,768,000 after purchasing an additional 58,925 shares in the last quarter. Focus Partners Wealth bought a new stake in Darling Ingredients in the first quarter valued at about $205,000. M&T Bank Corp increased its holdings in Darling Ingredients by 11.2% in the second quarter. M&T Bank Corp now owns 8,384 shares of the company's stock valued at $318,000 after buying an additional 847 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Darling Ingredients by 5.0% during the second quarter. Invesco Ltd. now owns 677,528 shares of the company's stock valued at $25,705,000 after buying an additional 32,553 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird lifted their target price on Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Barclays began coverage on Darling Ingredients in a research report on Monday, June 22nd. They set an "equal weight" rating and a $58.00 price target on the stock. TD Cowen reduced their price objective on Darling Ingredients from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, June 23rd. Wall Street Zen downgraded shares of Darling Ingredients from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings lowered shares of Darling Ingredients from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 18th. One equities research 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $67.45.

Insider Transactions at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Darling Ingredients Stock Up 2.9%

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

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the business posted ($0.16) EPS. The business's revenue was up 12.3% on a year-over-year basis. Analysts predict 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.

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