Oaktree Organics, LP Maintains Stake in SunOpta Inc. (STKL)
Oaktree Organics, LP recently disclosed that they own 11.7% of SunOpta Inc. (NASDAQ:STKL) in a Form 13D disclosure that was filed with the SEC on Monday, October 17th. The investor owns 11,333,334 shares of the stock valued at approximately $75,253,338. The reporting parties listed on the disclosure included Oaktree Organics, LP, Oaktree Huntington Investment Fund II, LP, Oaktree Huntington Investment Fund II GP, LP, Oaktree Fund GP, LLC, Oaktree Fund GP I, LP, Oaktree Capital I, LP, OCM Holdings I, LLC, Oaktree Holdings, LLC, Oaktree Capital Management, LP, Oaktree Holdings, Inc, Oaktree Capital Group, LLC and Oaktree Capital Group Holdings GP, LLC. The filing is available through EDGAR at this hyperlink.
A number of other institutional investors have also recently modified their holdings of STKL. Quantum Capital Management raised its stake in 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. UBS Group AG raised its stake in SunOpta by 34.2% in the first quarter. UBS Group AG now owns 2,827,771 shares of the company’s stock valued at $12,612,000 after buying an additional 720,824 shares in the last quarter. Engaged Capital LLC bought a new stake in SunOpta during the second quarter valued at $220,000. Geode Capital Management LLC raised its stake in 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. Finally, Aperio Group LLC raised its stake in 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. Hedge funds and other institutional investors own 76.82% of the company’s stock.
SunOpta Inc. (NASDAQ:STKL) traded down 0.15% on Monday, reaching $6.64. The company’s stock had a trading volume of 229,592 shares. The firm’s 50 day moving average is $6.79 and its 200-day moving average is $5.43. The firm’s market cap is $568.47 million. SunOpta Inc. has a 12 month low of $3.16 and a 12 month high of $7.40.
SunOpta (NASDAQ:STKL) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $348.10 million for the quarter, compared to analyst estimates of $361.55 million. SunOpta had a positive return on equity of 3.45% and a negative net margin of 3.33%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. On average, equities research analysts anticipate that SunOpta Inc. will post $0.21 EPS for the current year.
Several equities research analysts have recently weighed in on STKL shares. Wunderlich started coverage on SunOpta in a research note on Tuesday, October 11th. They issued a “buy” rating and a $10.00 price objective on the stock. Citigroup Inc. upped their price objective on SunOpta from $5.50 to $8.00 and gave the company a “buy” rating in a research note on Friday, September 9th. DA Davidson reissued a “buy” rating and issued a $7.50 target price on shares of SunOpta in a report on Wednesday, October 12th. TheStreet raised SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research raised SunOpta from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $8.88.
SunOpta Company Profile
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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