Principal Financial Group Inc. Sells 75,258 Shares of Darling Ingredients Inc. (NYSE:DAR)

Principal Financial Group Inc. lessened its stake in Darling Ingredients Inc. (NYSE:DAR) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,570,131 shares of the company’s stock after selling 75,258 shares during the quarter. Principal Financial Group Inc. owned about 0.99% of Darling Ingredients worth $58,346,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bfsg LLC raised its position in shares of Darling Ingredients by 48.9% in the 2nd quarter. Bfsg LLC now owns 6,260 shares of the company’s stock valued at $230,000 after acquiring an additional 2,055 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Darling Ingredients by 19.3% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 60,765 shares of the company’s stock worth $2,233,000 after purchasing an additional 9,846 shares during the period. Innealta Capital LLC bought a new position in shares of Darling Ingredients during the second quarter worth $174,000. iA Global Asset Management Inc. grew its holdings in shares of Darling Ingredients by 8.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 13,326 shares of the company’s stock valued at $490,000 after buying an additional 997 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Darling Ingredients in the 2nd quarter valued at $2,646,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Shares of DAR opened at $33.06 on Monday. 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 twelve month low of $32.67 and a twelve month high of $51.12. The stock has a market capitalization of $5.26 billion, a P/E ratio of 20.41 and a beta of 1.19. The company has a 50 day moving average of $38.61 and a 200-day moving average of $37.79.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on DAR. Jefferies Financial Group lifted their target price on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen lowered their target price 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. Finally, Piper Sandler cut their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

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.