Cornerstone Investment Partners LLC Invests $171,000 in SunOpta Inc. (NASDAQ:STKL)

Cornerstone Investment Partners LLC purchased a new position in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,181 shares of the company’s stock, valued at approximately $171,000.

A number of other hedge funds have also made changes to their positions in STKL. Diamond Hill Capital Management Inc. grew its position in shares of SunOpta by 65.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,904,312 shares of the company’s stock worth $13,158,000 after buying an additional 1,546,567 shares in the last quarter. Royal Bank of Canada grew its position in shares of SunOpta by 5,847.3% during the first quarter. Royal Bank of Canada now owns 1,365,254 shares of the company’s stock worth $6,853,000 after buying an additional 1,342,298 shares in the last quarter. State Street Corp grew its position in shares of SunOpta by 3,256.3% during the second quarter. State Street Corp now owns 1,240,051 shares of the company’s stock worth $9,648,000 after buying an additional 1,203,104 shares in the last quarter. FMR LLC grew its position in shares of SunOpta by 24.2% during the first quarter. FMR LLC now owns 4,578,921 shares of the company’s stock worth $35,258,000 after buying an additional 890,776 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of SunOpta during the first quarter worth approximately $6,009,000. Institutional investors and hedge funds own 85.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph Ennen sold 150,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the completion of the transaction, the insider now owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Joseph Ennen sold 150,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the completion of the transaction, the insider now owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian W. Kocher bought 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average price of $6.75 per share, with a total value of $243,000.00. Following the transaction, the chief executive officer now directly owns 36,000 shares in the company, valued at $243,000. The disclosure for this purchase can be found here. Corporate insiders own 5.82% of the company’s stock.

SunOpta Price Performance

STKL stock opened at $5.96 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48. SunOpta Inc. has a 1 year low of $2.79 and a 1 year high of $8.56. The stock’s fifty day moving average is $6.44 and its two-hundred day moving average is $5.40.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $165.10 million. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. As a group, research analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on STKL. BMO Capital Markets lifted their price objective on shares of SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. DA Davidson lifted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.40.

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.