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. decreased its holdings in Darling Ingredients Inc. (NYSE:DAR - Free Report) by 14.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,091 shares of the company's stock after selling 58,613 shares during the period. Raymond James Financial Inc. owned about 0.22% of Darling Ingredients worth $10,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peregrine Capital Management LLC raised its stake in shares of Darling Ingredients by 16.5% in the first quarter. Peregrine Capital Management LLC now owns 218,806 shares of the company's stock valued at $6,835,000 after acquiring an additional 30,952 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Darling Ingredients by 19.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,490 shares of the company's stock worth $953,000 after buying an additional 4,933 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Darling Ingredients by 14.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 154,315 shares of the company's stock valued at $4,821,000 after purchasing an additional 19,113 shares in the last quarter. GAMMA Investing LLC grew its stake in Darling Ingredients by 6,187.6% in the first quarter. GAMMA Investing LLC now owns 64,448 shares of the company's stock worth $2,063,000 after purchasing an additional 63,423 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Darling Ingredients in the first quarter worth about $255,000. Institutional investors own 94.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DAR. JPMorgan Chase & Co. assumed coverage on shares of Darling Ingredients in a research report on Wednesday, August 20th. They set an "overweight" rating and a $43.00 price objective on the stock. Jefferies Financial Group raised their price target on shares of Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a report on Monday, July 7th. Piper Sandler cut their price objective on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday, July 28th. Tudor Pickering raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.57.

Insider Activity at Darling Ingredients

In related news, CEO Randall C. Stuewe sold 35,000 shares of the business's stock in a transaction that occurred 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 directly owned 781,437 shares in the company, valued at approximately $24,162,032.04. The trade was a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.62% of the stock is currently owned by company insiders.

Darling Ingredients Price Performance

DAR stock traded up $0.30 during trading on Friday, reaching $31.87. The company's stock had a trading volume of 330,529 shares, compared to its average volume of 2,356,208. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $5.04 billion, a P/E ratio of 48.30 and a beta of 1.16. The company's fifty day moving average is $34.32 and its 200-day moving average is $33.34. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $43.49.

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

About Darling Ingredients

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.