In the first quarter of this year, investment management company Barrow Hanley Mewhinney & Strauss LLC increased its holdings in SunOpta Inc. by 2.6%, according to a recent filing with the SEC. The firm now owns 3,559,379 shares of SunOpta’s stock, following the purchase of an additional 90,232 shares during the quarter. This represents about 3.02% of SunOpta’s total worth, which amounts to $27,407,000 as per the most recent SEC filing.
On August 9th, SunOpta reported its quarterly earnings results. The company revealed an earnings per share (EPS) of ($0.03) for the quarter, missing analysts’ consensus estimates by ($0.02). SunOpta experienced a negative net margin of 3.29% but maintained a positive return on equity of 2.43%. Its revenue for the quarter was recorded at $207.81 million compared to a consensus estimate of $225.00 million.
Looking ahead, equities research analysts project that SunOpta Inc. will post earnings per share of 0.07 for the current year.
Investors and stakeholders can access our latest report on STKL for more information.
(Note: This article is based on information available as of August 26, 2023)
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Hedge Funds and Institutional Investors Show Increased Interest in SunOpta Inc.
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”STKL” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]SunOpta Inc., a leading food processing company, has seen several institutional investors and hedge funds modify their holdings of the business. Investment management firm BlackRock Inc. increased its position in SunOpta by 8.9% during the third quarter, now owning over 6 million shares valued at $55.79 million. FMR LLC also lifted its stake in the company by 24.2% in the first quarter, and American Century Companies Inc. saw a significant increase of 362.9% during the fourth quarter. abrdn plc followed suit with a 555.7% increase, while Diamond Hill Capital Management Inc. lifted its stake by 11% in the first quarter.
On Friday, August 26th, SunOpta stock traded down $0.15 to reach $4.17 per share with a total of 405,688 shares exchanged, compared to an average volume of 1,009,209 shares. The one-year low for SunOpta stock stands at $3.99 and the high at $11.67. With a market capitalization of $492.60 million, the company currently holds a price-to-earnings ratio of -15.43 and a beta of 1.
The company’s current and quick ratios are presented as 1.54 and 0.46 respectively, while the debt-to-equity ratio is reported as 0.87.The figures highlight SunOpta’s liquidity and financial leverage positions within its industry.
In recent news regarding insider trading activity within the company; Director Lovas Katrina Houde sold 45,000 shares on Monday, August 21st for an average price of $4.40 per share totaling to $198,000 in value.
MoreoverCEO Joseph Ennen acquired an additional 15,000 shares on Wednesday May31st for an average cost of %6.$72 per share making the total value of the transaction $100,800.The acquisition increased the CEO’s personal holdings to 1,887,401 shares.
Several equities research analysts have provided their evaluations on SunOpta’s market performance. BMO Capital Markets cut their target price for the stock from $12.00 to $10.00 and rated it as “outperform”. Stephens initiated coverage on SunOpta and assigned an “overweight” rating with a target price of $10.00. Conversely, TheStreet downgraded its rating on SunOpta from a “c-” to a “d+” rating. Canaccord Genuity Group also dropped its price objective from $14.00 to $8.00 but reiterated a “buy” rating. Finally, StockNews.com recently initiated coverage with a “sell” rating.
According to Bloomberg.com, the stock has an average rating of “Moderate Buy” among analysts, with a consensus target price of $9.33 per share.
Louanna Lovell-August 26th 2023
