SunOpta, Inc. (STKL) Stake Owned by Oaktree Capital Management LP
Oaktree Capital Management LP
recently disclosed that they own a 19.8% stake in SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, December 18th. The investor owns 19,426,033 shares of the stock valued at $156,379,566. 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 disclosure is available through the SEC website at this link.
Other institutional investors and hedge funds have also modified their holdings of the company. South State Corp bought a new stake in shares of SunOpta in the 2nd quarter valued at approximately $110,000. Cookson Peirce & Co. Inc. bought a new stake in shares of SunOpta in the 2nd quarter valued at approximately $143,000. Tudor Investment Corp ET AL bought a new stake in shares of SunOpta in the 2nd quarter valued at approximately $153,000. Marshall Wace LLP bought a new stake in shares of SunOpta in the 2nd quarter valued at approximately $165,000. Finally, Marble Harbor Investment Counsel LLC bought a new stake in shares of SunOpta in the 3rd quarter valued at approximately $157,000. Institutional investors own 79.28% of the company’s stock.
In related news, Director Richard Dean Hollis bought 10,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $7.65 per share, with a total value of $76,500.00. Following the completion of the transaction, the director now directly owns 73,745 shares of the company’s stock, valued at $564,149.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.88% of the stock is owned by corporate insiders.
Shares of SunOpta, Inc. (NASDAQ STKL) traded up $0.15 during midday trading on Monday, hitting $8.05. The company had a trading volume of 3,978,600 shares, compared to its average volume of 449,298. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.32 and a quick ratio of 0.45. SunOpta, Inc. has a 1-year low of $6.00 and a 1-year high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, November 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $320.71 million for the quarter, compared to the consensus estimate of $335.68 million. SunOpta had a negative return on equity of 2.98% and a negative net margin of 3.99%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 EPS. equities analysts forecast that SunOpta, Inc. will post -0.09 earnings per share for the current year.
Several equities research analysts recently commented on STKL shares. Zacks Investment Research raised SunOpta from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, October 11th. Citigroup lowered their price target on SunOpta from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, November 20th. Finally, BidaskClub cut SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. SunOpta has an average rating of “Hold” and an average price target of $8.88.
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The 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, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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