Canada Pension Plan Investment Board purchased a new position in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 77,202 shares of the company’s stock, valued at approximately $566,000.
Other hedge funds have also modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of SunOpta during the second quarter worth $167,000. Janney Montgomery Scott LLC acquired a new position in shares of SunOpta during the third quarter worth $200,000. Renaissance Technologies LLC acquired a new position in shares of SunOpta during the second quarter worth $668,000. Bank of New York Mellon Corp increased its position in shares of SunOpta by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 179,115 shares of the company’s stock worth $1,505,000 after purchasing an additional 6,755 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of SunOpta by 304.1% during the second quarter. GSA Capital Partners LLP now owns 188,516 shares of the company’s stock worth $1,584,000 after purchasing an additional 141,866 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ STKL opened at $4.15 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.38 and a current ratio of 1.23. SunOpta, Inc. has a 1 year low of $4.13 and a 1 year high of $9.10. The firm has a market capitalization of $379.21 million, a P/E ratio of -29.64 and a beta of 1.17.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). SunOpta had a negative return on equity of 7.59% and a negative net margin of 10.52%. The firm had revenue of $308.37 million for the quarter, compared to the consensus estimate of $317.80 million. On average, analysts expect that SunOpta, Inc. will post -0.26 earnings per share for the current fiscal year.
STKL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded SunOpta from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. TheStreet downgraded SunOpta from a “c-” rating to a “d+” rating in a research report on Friday, November 9th. ValuEngine downgraded SunOpta from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Finally, BidaskClub downgraded SunOpta from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.00.
SunOpta Company Profile
SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, Mexico, and Ethiopia. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.
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