Corebridge Financial Inc. Lowers Position in Darling Ingredients Inc. (NYSE:DAR)

Corebridge Financial Inc. reduced its position in shares of Darling Ingredients Inc. (NYSE:DAR) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 179,963 shares of the company’s stock after selling 8,086 shares during the period. Corebridge Financial Inc.’s holdings in Darling Ingredients were worth $6,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in shares of Darling Ingredients in the 3rd quarter valued at approximately $30,545,000. Sycomore Asset Management lifted its holdings in Darling Ingredients by 101.2% in the fourth quarter. Sycomore Asset Management now owns 130,096 shares of the company’s stock valued at $4,743,000 after acquiring an additional 65,444 shares during the period. KBC Group NV boosted its position in shares of Darling Ingredients by 180.1% during the 4th quarter. KBC Group NV now owns 104,143 shares of the company’s stock worth $3,509,000 after purchasing an additional 66,966 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Darling Ingredients by 203.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,844,297 shares of the company’s stock worth $62,134,000 after purchasing an additional 1,235,985 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Darling Ingredients in the 4th quarter valued at about $13,769,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Stock Down 1.0 %

Shares of NYSE:DAR opened at $31.58 on Friday. The company has a market capitalization of $4.99 billion, a P/E ratio of 18.25 and a beta of 1.25. The stock’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $36.44. Darling Ingredients Inc. has a 52-week low of $27.20 and a 52-week high of $48.39. 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 (NYSE:DAR) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Darling Ingredients had a net margin of 4.88% and a return on equity of 6.04%. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Darling Ingredients from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Monday, March 24th. Finally, Stephens reiterated an “overweight” rating and set a $52.00 target price on shares of Darling Ingredients in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.

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.