Nicholas Investment Partners LP boosted its holdings in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,055,874 shares of the company’s stock after acquiring an additional 9,457 shares during the quarter. Nicholas Investment Partners LP owned approximately 1.22% of SunOpta worth $8,183,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of STKL. Alliancebernstein L.P. bought a new position in SunOpta during the second quarter valued at approximately $351,000. New York State Common Retirement Fund raised its position in SunOpta by 94.0% during the second quarter. New York State Common Retirement Fund now owns 48,171 shares of the company’s stock valued at $491,000 after acquiring an additional 23,345 shares in the last quarter. Aperio Group LLC raised its position in SunOpta by 30.7% during the third quarter. Aperio Group LLC now owns 68,909 shares of the company’s stock valued at $600,000 after acquiring an additional 16,176 shares in the last quarter. Bank of New York Mellon Corp raised its position in SunOpta by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 152,458 shares of the company’s stock valued at $1,326,000 after acquiring an additional 6,996 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC bought a new position in SunOpta during the third quarter valued at approximately $157,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.
SunOpta, Inc. (NASDAQ STKL) traded down $0.10 on Wednesday, reaching $7.30. 143,171 shares of the company’s stock were exchanged, compared to its average volume of 274,617. SunOpta, Inc. has a 1 year low of $6.27 and a 1 year high of $10.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.29 and a quick ratio of 0.42. The firm has a market capitalization of $646.70, a P/E ratio of -4.40 and a beta of 1.36.
SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). SunOpta had a negative return on equity of 3.73% and a negative net margin of 10.57%. The business had revenue of $292.40 million for the quarter, compared to analyst estimates of $291.04 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. analysts forecast that SunOpta, Inc. will post -0.01 earnings per share for the current fiscal year.
In related news, major shareholder Oaktree Huntington Investment acquired 644,540 shares of the business’s stock in a transaction on Friday, December 15th. The stock was bought at an average cost of $7.50 per share, with a total value of $4,834,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Dean Hollis acquired 25,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $7.02 per share, with a total value of $175,500.00. Following the completion of the acquisition, the director now owns 102,391 shares of the company’s stock, valued at approximately $718,784.82. The disclosure for this purchase can be found here. Insiders have acquired 673,040 shares of company stock worth $5,034,365 in the last quarter. Corporate insiders own 1.88% of the company’s stock.
STKL has been the topic of several recent research reports. Citigroup cut their price objective on shares of SunOpta from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, November 20th. BidaskClub upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded shares of SunOpta from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, ValuEngine downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.17.
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SunOpta Company Profile
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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