Jennison Associates LLC Has $40.64 Million Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Jennison Associates LLC boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,093,516 shares of the company's stock after purchasing an additional 42,921 shares during the quarter. Jennison Associates LLC owned approximately 0.69% of Darling Ingredients worth $40,635,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 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 buying an additional 232,583 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Darling Ingredients by 141.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 319,348 shares of the company's stock worth $14,856,000 after purchasing an additional 187,215 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Darling Ingredients in the first quarter worth $391,000. Toronto Dominion Bank increased its stake in Darling Ingredients by 942.1% during the first quarter. Toronto Dominion Bank now owns 392,165 shares of the company's stock valued at $18,240,000 after purchasing an additional 354,532 shares during the last quarter. Finally, Keeley Teton Advisors LLC raised its holdings in shares of Darling Ingredients by 48.9% during the first quarter. Keeley Teton Advisors LLC now owns 14,296 shares of the company's stock worth $665,000 after purchasing an additional 4,696 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DAR has been the subject of a number of recent research reports. TD Cowen lowered 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. Jefferies Financial Group upped their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler cut their price target on Darling Ingredients from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Darling Ingredients currently has a consensus rating of "Moderate Buy" and an average target price of $53.44.

Darling Ingredients Stock Performance

Shares of DAR stock traded down $0.48 during trading hours on Friday, reaching $40.68. 844,681 shares of the company's stock were exchanged, compared to its average volume of 2,160,506. The business has a fifty day moving average price of $38.35 and a 200-day moving average price of $38.63. The stock has a market capitalization of $6.47 billion, a P/E ratio of 24.86 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. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings results 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). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.77 earnings per share. Darling Ingredients's revenue for the quarter was down 12.5% on a year-over-year basis. Analysts predict that Darling Ingredients Inc. will post 1.88 EPS 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.