Jennison Associates LLC Increases Position in Darling Ingredients Inc. (NYSE:DAR)

Jennison Associates LLC raised its holdings in Darling Ingredients Inc. (NYSE:DAR) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,093,516 shares of the company’s stock after buying an additional 42,921 shares during the quarter. Jennison Associates LLC’s holdings in Darling Ingredients were worth $40,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Darling Ingredients by 1.5% in the first quarter. Vanguard Group Inc. now owns 15,610,753 shares of the company’s stock valued at $726,056,000 after purchasing an additional 232,583 shares during the period. Dimensional Fund Advisors LP lifted its stake in Darling Ingredients by 52.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock valued at $192,445,000 after buying an additional 1,800,809 shares in the last quarter. Earnest Partners LLC boosted its holdings in Darling Ingredients by 14.0% in the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after buying an additional 470,170 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Darling Ingredients by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after buying an additional 15,414 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Darling Ingredients by 0.5% during the third quarter. Handelsbanken Fonder AB now owns 1,204,023 shares of the company’s stock valued at $44,741,000 after acquiring an additional 6,200 shares during the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on DAR. Piper Sandler decreased their price objective on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. raised their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen dropped their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Jefferies Financial Group raised their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Darling Ingredients Price Performance

DAR stock opened at $41.16 on Friday. The business’s 50-day moving average is $38.21 and its two-hundred day moving average is $38.61. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.41 and a quick ratio of 0.83. Darling Ingredients Inc. has a 1 year low of $32.67 and a 1 year high of $51.36. The firm has a market capitalization of $6.55 billion, a P/E ratio of 25.41 and a beta of 1.23.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. Analysts anticipate that Darling Ingredients Inc. will post 1.88 earnings per share for the current fiscal year.

Darling Ingredients Company 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.