Darling Ingredients Inc. (NYSE:DAR) Shares Acquired by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 2,842.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 465,985 shares of the company's stock after purchasing an additional 450,147 shares during the quarter. Citigroup Inc. owned approximately 0.29% of Darling Ingredients worth $17,316,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in Darling Ingredients during the 1st quarter worth about $1,462,000. Swedbank AB acquired a new stake in Darling Ingredients in the 1st quarter worth approximately $14,676,000. Community Trust & Investment Co. grew its position in Darling Ingredients by 6.0% during the 1st quarter. Community Trust & Investment Co. now owns 179,416 shares of the company's stock worth $8,345,000 after purchasing an additional 10,206 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Darling Ingredients in the 2nd quarter valued at $502,000. Finally, DNB Asset Management AS raised its stake in shares of Darling Ingredients by 0.7% in the second quarter. DNB Asset Management AS now owns 1,178,568 shares of the company's stock worth $43,312,000 after purchasing an additional 8,499 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Shares of DAR stock traded down $0.59 during trading hours on Thursday, hitting $40.52. 1,033,123 shares of the company's stock were exchanged, compared to its average volume of 2,166,418. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. The firm has a market cap of $6.44 billion, a P/E ratio of 25.04 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $38.75 and a two-hundred day moving average of $38.46.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted 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 business's revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Sell-side analysts forecast that Darling Ingredients Inc. will post 1.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DAR shares. JPMorgan Chase & Co. increased their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. 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 report on Friday, October 25th. Piper Sandler lowered their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Finally, TD Cowen reduced their price objective on Darling Ingredients from $45.00 to $43.00 and set a "hold" rating for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Darling Ingredients has a consensus rating of "Moderate Buy" and an average target price of $53.44.

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.