Essex Investment Management Co. LLC reduced its stake in SunOpta Inc. (NASDAQ:STKL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,242 shares of the company’s stock after selling 1,985 shares during the period. Essex Investment Management Co. LLC’s holdings in SunOpta were worth $709,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantum Capital Management raised its position in shares of SunOpta by 71.3% in the first quarter. Quantum Capital Management now owns 29,598 shares of the company’s stock valued at $132,000 after buying an additional 12,315 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SunOpta by 155.9% in the first quarter. Geode Capital Management LLC now owns 97,743 shares of the company’s stock valued at $435,000 after buying an additional 59,544 shares in the last quarter. Aperio Group LLC raised its position in shares of SunOpta by 33.5% in the first quarter. Aperio Group LLC now owns 135,232 shares of the company’s stock valued at $603,000 after buying an additional 33,927 shares in the last quarter. Renaissance Technologies LLC raised its position in SunOpta by 316.9% in the first quarter. Renaissance Technologies LLC now owns 252,371 shares of the company’s stock worth $1,126,000 after buying an additional 191,841 shares during the period. Finally, Bank of Montreal Can bought a new position in SunOpta during the second quarter worth $5,769,000. 77.01% of the stock is owned by hedge funds and other institutional investors.
Shares of SunOpta Inc. (NASDAQ:STKL) traded up 0.43% during mid-day trading on Wednesday, reaching $6.99. The company’s stock had a trading volume of 673,966 shares. SunOpta Inc. has a one year low of $3.16 and a one year high of $7.40. The firm’s 50 day moving average is $6.74 and its 200 day moving average is $5.34. The firm’s market cap is $598.43 million.
SunOpta (NASDAQ:STKL) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.02. The firm earned $348.10 million during the quarter, compared to analysts’ expectations of $361.55 million. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities analysts anticipate that SunOpta Inc. will post $0.21 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. Citigroup Inc. raised their price objective on SunOpta from $5.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research lowered SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. DA Davidson raised their price objective on SunOpta from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, August 11th. TheStreet raised SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. SunOpta has an average rating of “Buy” and an average target price of $8.13.
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its 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 and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
Want to see what other hedge funds are holding STKL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunOpta Inc. (NASDAQ:STKL).
Receive News & Ratings for SunOpta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunOpta Inc. and related companies with MarketBeat.com's FREE daily email newsletter.