SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) fell 5.1% on Thursday . The stock traded as low as $10.48 and last traded at $10.48. 10,182 shares changed hands during trading, a decline of 98% from the average session volume of 573,791 shares. The stock had previously closed at $11.04.
Several brokerages have weighed in on STKL. Canaccord Genuity started coverage on SunOpta in a report on Monday, April 19th. They set a “buy” rating and a $20.00 price target on the stock. BMO Capital Markets started coverage on SunOpta in a research report on Friday, July 9th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research raised SunOpta from a “sell” rating to a “hold” rating in a research report on Friday, May 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $16.17.
The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.12 and a beta of 2.03. The firm has a 50 day moving average of $12.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.16 and a quick ratio of 0.88.
In related news, CEO Joseph Ennen sold 54,949 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $12.49, for a total value of $686,313.01. Following the completion of the transaction, the chief executive officer now directly owns 1,457,757 shares of the company’s stock, valued at approximately $18,207,384.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Chris Whitehair sold 12,039 shares of the stock in a transaction on Monday, May 17th. The shares were sold at an average price of $12.49, for a total value of $150,367.11. Following the sale, the senior vice president now owns 156,633 shares in the company, valued at approximately $1,956,346.17. The disclosure for this sale can be found here. Insiders sold a total of 236,036 shares of company stock valued at $2,965,146 over the last ninety days. 3.76% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in STKL. FMR LLC grew its holdings in SunOpta by 5.4% during the 1st quarter. FMR LLC now owns 3,638,784 shares of the company’s stock valued at $12,590,000 after buying an additional 186,718 shares during the last quarter. BlackRock Inc. acquired a new stake in SunOpta during the 4th quarter valued at $187,000. Alliancebernstein L.P. acquired a new stake in SunOpta during the 4th quarter valued at $188,000. Bank of New York Mellon Corp acquired a new stake in SunOpta during the 4th quarter valued at $3,013,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of SunOpta by 1,007.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,783 shares of the company’s stock worth $114,000 after purchasing an additional 8,900 shares during the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.
About SunOpta (NASDAQ:STKL)
SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.
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