State Street Corp Increases Position in SunOpta Inc. (NASDAQ:STKL)

State Street Corp increased its holdings in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 18.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,827,273 shares of the company’s stock after acquiring an additional 290,372 shares during the quarter. State Street Corp owned approximately 1.53% of SunOpta worth $11,658,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Quantinno Capital Management LP raised its position in SunOpta by 33.1% in the third quarter. Quantinno Capital Management LP now owns 13,522 shares of the company’s stock worth $86,000 after acquiring an additional 3,360 shares during the period. Point72 Asset Management L.P. lifted its stake in SunOpta by 94.1% in the third quarter. Point72 Asset Management L.P. now owns 32,410 shares of the company’s stock valued at $207,000 after purchasing an additional 15,710 shares during the last quarter. Portolan Capital Management LLC grew its holdings in SunOpta by 6.1% during the third quarter. Portolan Capital Management LLC now owns 1,255,931 shares of the company’s stock valued at $8,013,000 after purchasing an additional 71,967 shares during the period. Paloma Partners Management Co purchased a new stake in SunOpta in the third quarter worth $85,000. Finally, PDT Partners LLC purchased a new position in shares of SunOpta during the 3rd quarter valued at $726,000. 85.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Rebecca Fisher sold 13,142 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $7.58, for a total value of $99,616.36. Following the completion of the sale, the director now owns 108,500 shares in the company, valued at $822,430. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Duchscher sold 50,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.33, for a total transaction of $366,500.00. Following the transaction, the insider now owns 42,971 shares in the company, valued at $314,977.43. The trade was a 53.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

STKL has been the topic of a number of research reports. StockNews.com upgraded SunOpta from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. DA Davidson reaffirmed a “buy” rating and issued a $9.00 price objective on shares of SunOpta in a report on Thursday, October 10th. Finally, Stephens boosted their target price on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.50.

SunOpta Trading Up 1.2 %

Shares of STKL opened at $7.83 on Thursday. SunOpta Inc. has a twelve month low of $4.88 and a twelve month high of $8.11. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. The stock has a market cap of $936.01 million, a PE ratio of -43.50 and a beta of 1.78. The business’s 50-day moving average price is $7.21 and its 200-day moving average price is $6.32.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. The company had revenue of $176.22 million for the quarter, compared to analysts’ expectations of $172.30 million. On average, equities analysts forecast that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

SunOpta Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.