Fifth Third Bancorp Has $8.03 Million Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• Fifth Third Bancorp sharply increased its stake in Darling Ingredients during the first quarter, boosting holdings by 8,295% to 129,870 shares valued at about $8.03 million.
• Wall Street sentiment is mostly positive, with 10 Buy ratings, 1 Strong Buy, and 2 Holds; the consensus rating is Moderate Buy with an average target price of $67.82.
• Darling Ingredients reported stronger-than-expected quarterly earnings, posting EPS of $0.83 versus the $0.56 estimate, while revenue rose 12.3% year over year to $1.55 billion.

Fifth Third Bancorp increased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 8,295.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,870 shares of the company's stock after purchasing an additional 128,323 shares during the quarter. Fifth Third Bancorp owned 0.08% of Darling Ingredients worth $8,032,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Darling Ingredients in the fourth quarter valued at approximately $94,211,000. No Street GP LP acquired a new stake in shares of Darling Ingredients during the third quarter worth $69,458,000. Assenagon Asset Management S.A. raised its holdings in shares of Darling Ingredients by 72.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company's stock worth $129,388,000 after acquiring an additional 882,185 shares during the period. Rubric Capital Management LP bought a new stake in Darling Ingredients in the 4th quarter valued at $24,510,000. Finally, Amundi boosted its stake in Darling Ingredients by 177.7% in the 4th quarter. Amundi now owns 864,400 shares of the company's stock worth $31,119,000 after purchasing an additional 553,081 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DAR has been the subject of a number of research reports. Robert W. Baird increased their target price on Darling Ingredients from $64.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Barclays boosted their price target on Darling Ingredients from $58.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday, July 2nd. UBS Group increased their price objective on Darling Ingredients from $58.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Scotiabank lifted their target price on Darling Ingredients from $61.00 to $70.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Darling Ingredients from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Darling Ingredients has a consensus rating of "Moderate Buy" and an average target price of $67.82.

Insider Buying and Selling at Darling Ingredients

In related 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 transaction, the chief accounting officer directly owned 19,969 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Darling Ingredients Stock Down 2.1%

DAR stock opened at $60.53 on Thursday. 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 business has a 50 day moving average price of $58.42 and a two-hundred day moving average price of $54.04. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 43.86 and a beta of 1.04. Darling Ingredients Inc. has a twelve month low of $29.15 and a twelve month high of $66.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the prior year, the business posted ($0.16) EPS. The business's revenue was up 12.3% compared to the same quarter last year. Analysts anticipate that Darling Ingredients Inc. will post 4.67 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding DAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darling Ingredients Inc. (NYSE:DAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.