Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Position in Darling Ingredients Inc. $DAR

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter stake in Darling Ingredients, buying 492,458 shares worth about $17.7 million and ending with 0.31% ownership.
• Wall Street sentiment remains bullish, with several firms raising price targets; the consensus rating is “Buy” and the average target price is $69.
• Darling Ingredients reported strong quarterly results, beating EPS expectations with $0.83 per share and posting 12.3% year-over-year revenue growth, even as the stock traded down 3.6% to $59.87.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 492,458 shares of the company's stock, valued at approximately $17,728,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.31% of Darling Ingredients at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DAR. No Street GP LP bought a new position in shares of Darling Ingredients during the 3rd quarter valued at approximately $69,458,000. BNP Paribas Financial Markets grew its stake in shares of Darling Ingredients by 184.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 846,371 shares of the company's stock valued at $32,111,000 after acquiring an additional 548,844 shares during the period. Two Sigma Investments LP grew its stake in shares of Darling Ingredients by 608.5% during the 3rd quarter. Two Sigma Investments LP now owns 634,361 shares of the company's stock valued at $19,583,000 after acquiring an additional 544,821 shares during the period. Goodlander Investment Management LLC grew its stake in shares of Darling Ingredients by 226.1% during the 2nd quarter. Goodlander Investment Management LLC now owns 750,000 shares of the company's stock valued at $28,455,000 after acquiring an additional 520,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Darling Ingredients by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,394,342 shares of the company's stock valued at $554,196,000 after acquiring an additional 512,219 shares during the period. 94.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DAR. Stephens boosted their price objective on Darling Ingredients from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. BMO Capital Markets boosted their price objective on Darling Ingredients from $45.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Robert W. Baird upped their price target on Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Jefferies Financial Group upped their price target on Darling Ingredients from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Finally, Piper Sandler upped their price target on Darling Ingredients from $49.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $69.00.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, CEO Randall C. Stuewe sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $52.12, for a total value of $1,042,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,117,085 shares in the company, valued at $58,222,470.20. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Joseph Manzi sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the sale, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

Darling Ingredients Trading Down 3.6%

DAR stock opened at $59.87 on Wednesday. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $66.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.58 and a quick ratio of 1.03. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 43.38 and a beta of 1.07. The business has a 50 day simple moving average of $60.13 and a two-hundred day simple moving average of $47.45.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share 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 during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company posted ($0.16) EPS. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts anticipate that Darling Ingredients Inc. will post 4.68 EPS for the current fiscal 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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