SunOpta (NASDAQ:STKL) Major Shareholder Oaktree Capital Group Holdings Sells 20,651,812 Shares

SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) major shareholder Oaktree Capital Group Holdings sold 20,651,812 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $6.50, for a total transaction of $134,236,778.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

SunOpta Stock Performance

STKL traded down $0.01 during trading on Tuesday, hitting $6.49. 2,917,184 shares of the company traded hands, compared to its average volume of 951,792. SunOpta, Inc. has a one year low of $3.32 and a one year high of $6.94. The stock’s fifty day moving average is $6.47 and its 200 day moving average is $5.22. The company has a quick ratio of 0.61, a current ratio of 1.18 and a debt-to-equity ratio of 1.27. The firm has a market cap of $786.32 million, a P/E ratio of 49.93 and a beta of 1.03.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STKL shares. DA Davidson restated a “buy” rating and set a $8.00 price target on shares of SunOpta in a research note on Monday, February 9th. William Blair downgraded SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SunOpta has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Investors Weigh In On SunOpta

Several large investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA bought a new stake in SunOpta in the 1st quarter valued at about $3,111,000. Chicago Partners Investment Group LLC bought a new position in SunOpta during the first quarter worth about $225,000. Credit Industriel ET Commercial purchased a new position in shares of SunOpta in the first quarter worth about $1,944,000. HB Wealth Management LLC bought a new stake in shares of SunOpta in the first quarter valued at approximately $102,000. Finally, SG Americas Securities LLC raised its position in shares of SunOpta by 49.9% in the first quarter. SG Americas Securities LLC now owns 26,766 shares of the company’s stock valued at $173,000 after purchasing an additional 8,908 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About SunOpta

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.