Hsbc Holdings PLC Purchases 31,124 Shares of Darling Ingredients Inc. $DAR

Hsbc Holdings PLC grew its position in Darling Ingredients Inc. (NYSE:DAR) by 297.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 41,599 shares of the company’s stock after purchasing an additional 31,124 shares during the period. Hsbc Holdings PLC’s holdings in Darling Ingredients were worth $2,578,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Darling Ingredients in the 4th quarter worth about $94,211,000. No Street GP LP bought a new position in shares of Darling Ingredients in the third quarter valued at approximately $69,458,000. Assenagon Asset Management S.A. grew its holdings in shares of Darling Ingredients by 72.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock valued at $129,388,000 after acquiring an additional 882,185 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Darling Ingredients during the fourth quarter valued at approximately $24,510,000. Finally, Amundi increased its position in shares of Darling Ingredients by 177.7% during the fourth quarter. Amundi now owns 864,400 shares of the company’s stock valued at $31,119,000 after acquiring an additional 553,081 shares during the last quarter. 94.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DAR shares. JPMorgan Chase & Co. upped their price objective on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Stephens increased their price target on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Barclays raised their price objective on shares of Darling Ingredients from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. TD Cowen reduced their price objective on Darling Ingredients from $76.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Finally, Robert W. Baird lifted their target price on shares of Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.82.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $62.42 on Friday. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 45.23 and a beta of 1.04. 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 simple moving average of $58.47 and a 200 day simple moving average of $55.23. Darling Ingredients Inc. has a 52 week low of $29.15 and a 52 week high of $66.02.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business posted ($0.16) earnings per share. Darling Ingredients’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts forecast that Darling Ingredients Inc. will post 5.04 earnings per share for the current fiscal year.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares of the company’s stock, valued at $1,275,819.41. The trade was a 13.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

About Darling Ingredients

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.