Darling Ingredients Inc (DAR) Shares Bought by Jennison Associates LLC
Jennison Associates LLC boosted its position in Darling Ingredients Inc (NYSE:DAR) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,789,602 shares of the company’s stock after buying an additional 39,693 shares during the period. Jennison Associates LLC’s holdings in Darling Ingredients were worth $50,575,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DAR. Integrated Investment Consultants LLC purchased a new position in Darling Ingredients during the third quarter worth $168,000. Harrington Investments INC purchased a new position in Darling Ingredients during the third quarter worth $185,000. Advisor Group Inc. increased its position in Darling Ingredients by 34.9% during the third quarter. Advisor Group Inc. now owns 11,927 shares of the company’s stock worth $209,000 after buying an additional 3,086 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Darling Ingredients by 10.4% during the second quarter. Public Employees Retirement System of Ohio now owns 14,628 shares of the company’s stock worth $230,000 after buying an additional 1,376 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Darling Ingredients during the second quarter worth $244,000. 97.72% of the stock is owned by hedge funds and other institutional investors.
DAR has been the subject of several recent research reports. Canaccord Genuity raised their price target on Darling Ingredients from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research raised Darling Ingredients from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, October 11th. JPMorgan Chase & Co. downgraded Darling Ingredients from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $18.00 in a research report on Friday, October 6th. Finally, Roth Capital set a $20.00 price target on Darling Ingredients and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Darling Ingredients currently has an average rating of “Buy” and an average target price of $19.33.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $937.70 million during the quarter, compared to analysts’ expectations of $870.50 million. Darling Ingredients had a net margin of 1.76% and a return on equity of 2.96%. Darling Ingredients’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. analysts expect that Darling Ingredients Inc will post 0.24 EPS for the current year.
Darling Ingredients Company Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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