Citigroup Inc. Buys 247,311 Shares of Darling Ingredients Inc. $DAR

Citigroup Inc. boosted its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 134.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,336 shares of the company’s stock after buying an additional 247,311 shares during the quarter. Citigroup Inc. owned approximately 0.27% of Darling Ingredients worth $13,315,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of Darling Ingredients by 37.5% during the third quarter. Fifth Third Bancorp now owns 1,668 shares of the company’s stock valued at $51,000 after acquiring an additional 455 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Darling Ingredients by 0.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 53,460 shares of the company’s stock worth $1,639,000 after purchasing an additional 460 shares during the period. Treasurer of the State of North Carolina raised its position in Darling Ingredients by 0.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 73,053 shares of the company’s stock valued at $2,772,000 after purchasing an additional 514 shares in the last quarter. AlphaQuest LLC raised its position in Darling Ingredients by 11.6% during the 2nd quarter. AlphaQuest LLC now owns 5,310 shares of the company’s stock valued at $201,000 after purchasing an additional 550 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Darling Ingredients by 609.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. 94.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DAR shares. UBS Group set a $50.00 price objective on Darling Ingredients in a report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of Darling Ingredients in a research report on Friday, February 13th. Robert W. Baird set a $64.00 price target on shares of Darling Ingredients in a report on Friday, February 13th. BMO Capital Markets increased their price objective on shares of Darling Ingredients from $45.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, TD Cowen boosted their price objective on shares of Darling Ingredients from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.60.

Darling Ingredients Trading Up 0.3%

NYSE:DAR opened at $53.12 on Friday. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 136.19, a PEG ratio of 0.55 and a beta of 1.27. Darling Ingredients Inc. has a 52 week low of $26.00 and a 52 week high of $53.71. The company has a quick ratio of 0.87, a current ratio of 3.86 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $43.64 and a 200 day moving average of $36.81.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $1.71 billion for the quarter. Darling Ingredients had a return on equity of 2.44% and a net margin of 1.02%. As a group, sell-side analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

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.