SunOpta Inc. (STKL) Trading Up 2.6%
SunOpta Inc. (NASDAQ:STKL)’s share price was up 2.6% during mid-day trading on Monday . The company traded as high as $5.24 and last traded at $5.18, with a volume of 243,355 shares traded. The stock had previously closed at $5.05.
A number of equities analysts recently issued reports on STKL shares. DA Davidson upgraded SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Wednesday, April 13th. Canaccord Genuity restated a “buy” rating and set a $10.00 price objective on shares of SunOpta in a research note on Wednesday, April 13th. Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, AltaCorp Capital restated an “outperform” rating on shares of SunOpta in a research note on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. SunOpta has a consensus rating of “Hold” and an average target price of $9.50.
The firm’s market cap is $450.63 million. The company has a 50 day moving average price of $4.62 and a 200-day moving average price of $5.06.
SunOpta (NASDAQ:STKL) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company earned $352.30 million during the quarter, compared to the consensus estimate of $351.60 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts predict that SunOpta Inc. will post $0.24 earnings per share for the current fiscal year.
In other news, CEO Hendrik Jacobs purchased 7,000 shares of SunOpta stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average cost of $3.85 per share, with a total value of $26,950.00. Following the completion of the purchase, the chief executive officer now directly owns 41,638 shares in the company, valued at $160,306.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas Greene purchased 50,000 shares of SunOpta stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $3.77 per share, for a total transaction of $188,500.00. Following the completion of the purchase, the director now owns 265,543 shares of the company’s stock, valued at $1,001,097.11. The disclosure for this purchase can be found here.
A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of SunOpta by 56.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 151,928 shares of the company’s stock valued at $1,039,000 after buying an additional 54,539 shares during the last quarter. Jennison Associates LLC boosted its stake in SunOpta by 6.8% in the fourth quarter. Jennison Associates LLC now owns 4,234,596 shares of the company’s stock worth $28,965,000 after buying an additional 270,963 shares in the last quarter. Baker Chad R bought a new stake in SunOpta during the fourth quarter worth approximately $2,977,000. Finally, Morgan Stanley boosted its stake in SunOpta by 123,646.6% in the fourth quarter. Morgan Stanley now owns 6,693,454 shares of the company’s stock worth $45,783,000 after buying an additional 6,688,045 shares in the last quarter.
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.
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