Westpac Banking Corp purchased a new stake in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 34,452 shares of the company’s stock, valued at approximately $351,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in STKL. Bank of New York Mellon Corp bought a new position in SunOpta during the 1st quarter valued at approximately $515,000. Pictet Asset Management Ltd. bought a new position in SunOpta during the 1st quarter valued at approximately $3,717,000. Gamco Investors INC. ET AL raised its position in SunOpta by 13.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the company’s stock valued at $188,000 after purchasing an additional 3,100 shares during the last quarter. Karp Capital Management Corp bought a new position in SunOpta during the 1st quarter valued at approximately $364,000. Finally, Engineers Gate Manager LP bought a new position in SunOpta during the 1st quarter valued at approximately $339,000. 79.25% of the stock is owned by institutional investors and hedge funds.
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STKL has been the subject of a number of recent analyst reports. Zacks Investment Research lowered SunOpta from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. upped their target price on SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. SunOpta presently has a consensus rating of “Hold” and a consensus target price of $9.30.
In related news, CFO Robert Mckeracher sold 36,533 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $8.41, for a total value of $307,242.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Gough acquired 5,000 shares of SunOpta stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $8.70 per share, with a total value of $43,500.00. Following the purchase, the insider now directly owns 20,000 shares of the company’s stock, valued at $174,000. The disclosure for this purchase can be found here. Insiders own 1.88% of the company’s stock.
SunOpta, Inc. (NASDAQ:STKL) opened at 8.50 on Friday. The firm’s 50 day moving average price is $8.89 and its 200-day moving average price is $8.44. SunOpta, Inc. has a 12-month low of $5.73 and a 12-month high of $10.20. The stock’s market cap is $735.22 million.
SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The company had revenue of $336.45 million for the quarter, compared to the consensus estimate of $341.18 million. During the same period in the prior year, the firm posted $0.05 EPS. The business’s revenue was down 3.3% on a year-over-year basis. Equities research analysts anticipate that SunOpta, Inc. will post $0.02 earnings per share for the current fiscal year.
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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