Canada Pension Plan Investment Board Grows Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Canada Pension Plan Investment Board lifted its position in shares of Darling Ingredients Inc. (NYSE:DAR – Get Rating) by 586.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,692 shares of the company’s stock after purchasing an additional 2,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Darling Ingredients were worth $178,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DAR. HighTower Advisors LLC raised its stake in Darling Ingredients by 97.9% during the 1st quarter. HighTower Advisors LLC now owns 14,145 shares of the company’s stock worth $1,133,000 after acquiring an additional 6,999 shares in the last quarter. Bank of Montreal Can raised its stake in Darling Ingredients by 20.4% during the 1st quarter. Bank of Montreal Can now owns 21,054 shares of the company’s stock worth $1,697,000 after acquiring an additional 3,563 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Darling Ingredients during the 1st quarter worth $141,000. Panagora Asset Management Inc. acquired a new stake in Darling Ingredients during the 1st quarter worth $447,000. Finally, Great West Life Assurance Co. Can raised its stake in Darling Ingredients by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 89,124 shares of the company’s stock worth $7,366,000 after acquiring an additional 6,770 shares in the last quarter. 90.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAR has been the topic of several research analyst reports. Cowen cut their price target on shares of Darling Ingredients from $79.00 to $73.00 in a research note on Tuesday, January 10th. Robert W. Baird lifted their price objective on shares of Darling Ingredients from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Piper Sandler dropped their price objective on shares of Darling Ingredients from $101.00 to $99.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Stephens restated an “equal weight” rating and issued a $75.00 price objective on shares of Darling Ingredients in a research note on Tuesday. Finally, UBS Group assumed coverage on shares of Darling Ingredients in a research note on Tuesday, December 13th. They issued a “buy” rating and a $91.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.36.

Darling Ingredients Stock Down 2.0 %

Shares of NYSE:DAR opened at $62.70 on Friday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 13.93 and a beta of 1.26. The firm’s 50-day simple moving average is $65.14 and its 200-day simple moving average is $69.89. The company has a quick ratio of 0.90, a current ratio of 1.53 and a debt-to-equity ratio of 0.85. Darling Ingredients Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $87.59.

Darling Ingredients Profile

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Darling Ingredients, Inc engages in the development and production of natural ingredients from edible and inedible bio-nutrients. It operates through the following segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. The Feed Ingredients segment includes ingredients business such as fats and proteins used cooking oil, trap grease and food residuals collection, the Rothsay ingredients, and the ingredients and specialty products.