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Pictet Asset Management Holding SA Has $24.33 Million Holdings in Darling Ingredients Inc. $DAR

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Key Points

  • Pictet Asset Management trimmed its position by 42.2%, selling 493,569 shares and now holds 675,818 Darling Ingredients shares valued at about $24.33 million.
  • Darling beat Q1 expectations with GAAP EPS of $0.83 and roughly 12% YoY revenue growth to about $1.55–$1.6 billion, and management guided Q2 core-ingredients EBITDA of $260M–$275M, signaling margin recovery.
  • OSHA has opened a safety probe after a fatality at the Bastrop rendering plant, creating potential regulatory, legal and reputational risks for the company.
  • Interested in Darling Ingredients? Here are five stocks we like better.

Pictet Asset Management Holding SA trimmed its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 675,818 shares of the company's stock after selling 493,569 shares during the period. Pictet Asset Management Holding SA owned 0.43% of Darling Ingredients worth $24,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Danske Bank A S bought a new position in Darling Ingredients during the third quarter worth about $25,000. Abich Financial Wealth Management LLC bought a new stake in Darling Ingredients in the third quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its position in shares of Darling Ingredients by 681.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company's stock valued at $39,000 after buying an additional 886 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Darling Ingredients by 138.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,511 shares of the company's stock worth $47,000 after acquiring an additional 877 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Darling Ingredients in the 3rd quarter valued at $48,000. Institutional investors own 94.44% of the company's stock.

Analyst Ratings Changes

DAR has been the subject of a number of research analyst reports. TD Cowen lifted their price objective on shares of Darling Ingredients from $58.00 to $72.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $59.00 to $69.00 and gave the company an "overweight" rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of Darling Ingredients in a report on Friday, April 10th. Scotiabank boosted their price objective on Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Finally, 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 research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Darling Ingredients currently has an average rating of "Buy" and a consensus price target of $67.40.

Get Our Latest Report on DAR

Key Headlines Impacting Darling Ingredients

Here are the key news stories impacting Darling Ingredients this week:

Insider Buying and Selling

In other Darling Ingredients news, CEO Randall C. Stuewe sold 20,000 shares of Darling Ingredients stock in a transaction 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 of the company's stock, valued at $58,222,470.20. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Stock Performance

Shares of NYSE:DAR opened at $64.25 on Friday. Darling Ingredients Inc. has a 12-month low of $29.15 and a 12-month high of $64.90. The company's 50 day moving average price is $57.96 and its two-hundred day moving average price is $44.93. The firm has a market cap of $10.20 billion, a PE ratio of 164.73 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 1.50 and a debt-to-equity ratio of 0.80.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.25. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Darling Ingredients had a net margin of 1.02% and a return on equity of 2.36%. The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. Equities research analysts predict that Darling Ingredients Inc. will post 4.02 earnings per share for the current year.

Darling Ingredients Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Darling Ingredients (NYSE:DAR)

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.

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