SunOpta Inc. (NASDAQ:STKL) Shares Sold by Wealth Effects LLC

Wealth Effects LLC reduced its stake in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 12.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 71,200 shares of the company’s stock after selling 10,500 shares during the period. Wealth Effects LLC owned approximately 0.06% of SunOpta worth $454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in SunOpta by 9.3% during the third quarter. Creative Planning now owns 30,716 shares of the company’s stock worth $196,000 after acquiring an additional 2,617 shares during the period. Tealwood Asset Management Inc. purchased a new stake in SunOpta in the 3rd quarter worth approximately $80,000. SG Americas Securities LLC acquired a new stake in shares of SunOpta during the 3rd quarter worth approximately $6,394,000. Cubist Systematic Strategies LLC purchased a new position in shares of SunOpta during the 2nd quarter valued at approximately $234,000. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of SunOpta in the 2nd quarter valued at $219,000. 85.39% of the stock is owned by institutional investors and hedge funds.

SunOpta Price Performance

NASDAQ STKL traded down $0.10 on Monday, hitting $5.92. The company had a trading volume of 74,672 shares, compared to its average volume of 806,836. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The company’s fifty day moving average price is $6.25 and its 200-day moving average price is $5.87. The company has a market capitalization of $707.14 million, a PE ratio of -4.33 and a beta of 1.83. SunOpta Inc. has a 12-month low of $3.72 and a 12-month high of $7.59.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The business had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was down 17.7% on a year-over-year basis. As a group, analysts predict that SunOpta Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on STKL. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. DA Davidson restated a “buy” rating and set a $9.00 target price on shares of SunOpta in a research report on Thursday, October 10th.

About SunOpta

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.