Royce & Associates LP Reduces Holdings in SunOpta, Inc. $STKL

Royce & Associates LP reduced its stake in SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 13.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,276,526 shares of the company’s stock after selling 204,500 shares during the quarter. Royce & Associates LP owned about 1.08% of SunOpta worth $7,480,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of SunOpta in the third quarter worth $77,000. Thornburg Investment Management Inc. grew its holdings in shares of SunOpta by 12.4% during the third quarter. Thornburg Investment Management Inc. now owns 2,088,513 shares of the company’s stock valued at $12,239,000 after buying an additional 230,226 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of SunOpta by 2.6% in the 3rd quarter. Heartland Advisors Inc. now owns 1,248,775 shares of the company’s stock valued at $7,318,000 after acquiring an additional 31,550 shares during the period. GSA Capital Partners LLP raised its stake in SunOpta by 47.3% in the 3rd quarter. GSA Capital Partners LLP now owns 333,839 shares of the company’s stock worth $1,956,000 after acquiring an additional 107,222 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in SunOpta by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,267,321 shares of the company’s stock worth $13,286,000 after acquiring an additional 16,912 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

SunOpta Stock Performance

STKL opened at $6.46 on Wednesday. The firm has a fifty day moving average price of $5.07 and a 200 day moving average price of $5.13. SunOpta, Inc. has a 1 year low of $3.32 and a 1 year high of $6.94. The stock has a market cap of $780.63 million, a P/E ratio of 34.16 and a beta of 1.04. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.98 and a quick ratio of 0.37.

Wall Street Analyst Weigh In

STKL has been the topic of several research analyst reports. William Blair downgraded SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. DA Davidson reiterated a “buy” rating and issued a $8.00 target price on shares of SunOpta in a research report on Monday, February 9th. Mizuho cut their price target on shares of SunOpta from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of SunOpta in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SunOpta currently has an average rating of “Hold” and an average price target of $8.00.

About SunOpta

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.