Mackenzie Financial Corp Increases Stock Position in Darling Ingredients Inc. $DAR

Mackenzie Financial Corp increased its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 1,481.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 404,586 shares of the company’s stock after buying an additional 379,003 shares during the period. Mackenzie Financial Corp’s holdings in Darling Ingredients were worth $15,350,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Darling Ingredients by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,641,921 shares of the company’s stock valued at $488,654,000 after acquiring an additional 73,925 shares in the last quarter. Gates Capital Management Inc. grew its stake in Darling Ingredients by 18.7% during the 1st quarter. Gates Capital Management Inc. now owns 7,915,560 shares of the company’s stock valued at $247,282,000 after purchasing an additional 1,247,117 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Darling Ingredients by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,480,803 shares of the company’s stock valued at $233,701,000 after purchasing an additional 1,026,958 shares in the last quarter. Earnest Partners LLC increased its holdings in Darling Ingredients by 0.9% during the 1st quarter. Earnest Partners LLC now owns 4,082,416 shares of the company’s stock worth $127,535,000 after purchasing an additional 36,085 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Darling Ingredients by 1.0% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,693,135 shares of the company’s stock valued at $140,118,000 after purchasing an additional 35,309 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Analysts Set New Price Targets

DAR has been the subject of a number of recent analyst reports. UBS Group set a $50.00 price target on shares of Darling Ingredients in a research report on Monday, November 3rd. Jefferies Financial Group raised their price objective on shares of Darling Ingredients from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Zacks Research raised shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d)” rating on shares of Darling Ingredients in a research note on Wednesday, October 8th. Finally, Piper Sandler decreased their price target on Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.11.

Darling Ingredients Trading Up 0.4%

Darling Ingredients stock opened at $36.76 on Tuesday. Darling Ingredients Inc. has a 1 year low of $26.00 and a 1 year high of $42.15. The firm’s 50-day moving average is $32.80 and its 200-day moving average is $33.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.50. The company has a market cap of $5.81 billion, a P/E ratio of 54.87, a PEG ratio of 2.35 and a beta of 1.30.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Darling Ingredients had a return on equity of 2.41% and a net margin of 1.84%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $0.11 EPS. Darling Ingredients’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current 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.