Darling Ingredients Inc. $DAR Stake Boosted by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA increased its Darling Ingredients stake by 3.6% in the first quarter, bringing its holdings to 700,274 shares valued at about $43.3 million.
• Darling Ingredients reported better-than-expected quarterly earnings of $0.83 per share, beating estimates, while revenue rose 12.3% from a year ago to $1.55 billion.
• Wall Street sentiment remains mostly positive, with the stock carrying an average “Moderate Buy” rating and an average target price of $67.45, though one firm recently downgraded it to hold.

Pictet Asset Management Holding SA increased its stake in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 700,274 shares of the company's stock after purchasing an additional 24,456 shares during the period. Pictet Asset Management Holding SA owned 0.44% of Darling Ingredients worth $43,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Darling Ingredients during the 3rd quarter worth $25,000. Allworth Financial LP lifted its stake in Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company's stock valued at $26,000 after buying an additional 509 shares during the last quarter. Litman Gregory Wealth Management LLC bought a new stake in Darling Ingredients in the fourth quarter valued at $29,000. Leonteq Securities AG acquired a new position in shares of Darling Ingredients during the fourth quarter valued at $35,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Darling Ingredients during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Darling Ingredients from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group upped their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Scotiabank raised their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. TD Cowen cut their price target on Darling Ingredients from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Barclays initiated coverage on Darling Ingredients in a report on Monday, June 22nd. They set an "equal weight" rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Darling Ingredients presently has an average rating of "Moderate Buy" and an average target price of $67.45.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $54.69 on Wednesday. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $66.02. The firm's 50-day simple moving average is $58.93 and its 200 day simple moving average is $52.19. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. The stock has a market cap of $8.69 billion, a P/E ratio of 39.63 and a beta of 1.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.27. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. Darling Ingredients's revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) EPS. Equities analysts expect that Darling Ingredients Inc. will post 4.59 EPS for the current year.

Insider Buying and Selling at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the sale, the chief accounting officer directly owned 19,969 shares of the company's stock, valued at approximately $1,275,819.41. This represents a 13.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

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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