Wealth Effects LLC Decreases Holdings in SunOpta Inc. (NASDAQ:STKL)

Wealth Effects LLC lowered its position in SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,800 shares of the company’s stock after selling 15,400 shares during the period. Wealth Effects LLC’s holdings in SunOpta were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STKL. First Bank & Trust grew its stake in shares of SunOpta by 7.9% during the 3rd quarter. First Bank & Trust now owns 25,409 shares of the company’s stock valued at $162,000 after purchasing an additional 1,856 shares during the period. Mackenzie Financial Corp increased its holdings in SunOpta by 0.9% during the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock valued at $1,370,000 after buying an additional 2,155 shares during the last quarter. Creative Planning raised its position in SunOpta by 9.3% in 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. Quantinno Capital Management LP grew its position in shares of SunOpta by 33.1% during the 3rd quarter. Quantinno Capital Management LP now owns 13,522 shares of the company’s stock valued at $86,000 after acquiring an additional 3,360 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in SunOpta by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock valued at $200,000 after purchasing an additional 3,521 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.

SunOpta Stock Up 1.2 %

NASDAQ STKL opened at $7.47 on Tuesday. SunOpta Inc. has a 12 month low of $4.88 and a 12 month high of $8.11. The company has a current ratio of 1.20, a quick ratio of 0.53 and a debt-to-equity ratio of 1.61. The stock has a market cap of $893.79 million, a PE ratio of -41.50 and a beta of 1.80. The stock’s 50 day moving average is $7.62 and its 200 day moving average is $6.65.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Tuesday, November 5th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $176.22 million for the quarter, compared to the consensus estimate of $172.30 million. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. Research analysts predict that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

STKL has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of SunOpta in a research note on Thursday, January 2nd. DA Davidson reaffirmed a “buy” rating and set a $9.00 price target on shares of SunOpta in a report on Thursday, October 10th. Finally, StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Insider Transactions at SunOpta

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

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.