Raymond James Financial Inc. Sells 58,613 Shares of Darling Ingredients Inc. $DAR

Key Points

• Raymond James Financial Inc. reduced its stake in Darling Ingredients Inc. by 14.3%, selling 58,613 shares, and now holds approximately 0.22% of the company valued at $10.9 million.
• Darling Ingredients reported a missed earnings estimate for the recent quarter, posting $0.09 EPS against a consensus of $0.12, with revenue of $1.48 billion, slightly below expectations.
• Insider activity includes CEO Randall C. Stuewe selling 35,000 shares for $1.08 million, reducing his ownership by 4.29% to approximately $24.2 million in shares.

Raymond James Financial Inc. lowered its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,091 shares of the company's stock after selling 58,613 shares during the period. Raymond James Financial Inc. owned 0.22% of Darling Ingredients worth $10,937,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new stake in shares of Darling Ingredients during the 4th quarter valued at $25,000. Cary Street Partners Investment Advisory LLC purchased a new position in Darling Ingredients during the 1st quarter valued at about $30,000. Hexagon Capital Partners LLC increased its position in shares of Darling Ingredients by 33.3% during the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock valued at $62,000 after buying an additional 500 shares during the period. UMB Bank n.a. lifted its holdings in shares of Darling Ingredients by 207.1% in the first quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock worth $64,000 after buying an additional 1,373 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Darling Ingredients by 101.3% in the first quarter. GAMMA Investing LLC now owns 2,063 shares of the company's stock valued at $64,000 after acquiring an additional 1,038 shares during the period. 94.44% of the stock is owned by institutional investors.

Darling Ingredients Price Performance

Shares of Darling Ingredients stock traded down $0.85 during trading on Thursday, hitting $31.05. 871,624 shares of the stock traded hands, compared to its average volume of 2,357,979. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 47.08 and a beta of 1.16. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. Darling Ingredients Inc. has a 52 week low of $26.00 and a 52 week high of $43.49. The firm's fifty day moving average is $34.46 and its 200-day moving average is $33.41.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DAR has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. Baird R W lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Piper Sandler reduced their target price on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. started coverage on Darling Ingredients in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.57.

Insider Buying and Selling at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $30.92, for a total value of $1,082,200.00. Following the completion of the sale, the chief executive officer owned 781,437 shares of the company's stock, valued at approximately $24,162,032.04. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.07% of the company's stock.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.