Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,736,871 shares of the company’s stock after selling 98,505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 2.01% of SunOpta worth $15,069,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of SunOpta during the second quarter worth about $232,000. Alliancebernstein L.P. bought a new position in shares of SunOpta during the second quarter worth about $351,000. Nicholas Investment Partners LP lifted its position in shares of SunOpta by 162.7% during the second quarter. Nicholas Investment Partners LP now owns 703,998 shares of the company’s stock worth $7,182,000 after purchasing an additional 436,049 shares during the last quarter. Westpac Banking Corp bought a new position in shares of SunOpta during the second quarter worth about $351,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of SunOpta during the second quarter worth about $369,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.
SunOpta, Inc. (NASDAQ STKL) traded down $0.10 on Thursday, reaching $7.65. 321,100 shares of the company traded hands, compared to its average volume of 452,415. SunOpta, Inc. has a 52-week low of $6.00 and a 52-week high of $10.20. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.64.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $320.71 million for the quarter, compared to analyst estimates of $335.68 million. SunOpta had a negative return on equity of 2.98% and a negative net margin of 3.99%. SunOpta’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. sell-side analysts predict that SunOpta, Inc. will post -0.09 earnings per share for the current fiscal year.
In related news, Director Richard Dean Hollis acquired 10,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $7.65 per share, for a total transaction of $76,500.00. Following the completion of the acquisition, the director now directly owns 73,745 shares of the company’s stock, valued at approximately $564,149.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John Ruelle sold 38,361 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $8.75, for a total transaction of $335,658.75. Following the completion of the transaction, the chief accounting officer now owns 38,361 shares of the company’s stock, valued at $335,658.75. The disclosure for this sale can be found here. Company insiders own 1.88% of the company’s stock.
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Several research firms recently weighed in on STKL. BidaskClub lowered shares of SunOpta from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Citigroup Inc. dropped their price objective on shares of SunOpta from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Zacks Investment Research upgraded shares of SunOpta from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. SunOpta currently has an average rating of “Hold” and an average target price of $8.88.
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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