SunOpta, Inc. (STKL) Stock Price Up 5.7% on Insider Buying Activity
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY)’s share price rose 5.7% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $7.50 and last traded at $7.40. Approximately 577,400 shares traded hands during trading, an increase of 27% from the average daily volume of 455,608 shares. The stock had previously closed at $7.00.
Specifically, Director Richard Dean Hollis acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $7.65 per share, with a total value of $76,500.00. Following the acquisition, the director now directly owns 73,745 shares in the company, valued at $564,149.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Mckeracher sold 36,533 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $8.41, for a total transaction of $307,242.53. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on STKL. Zacks Investment Research downgraded shares of SunOpta from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. SunOpta has an average rating of “Hold” and a consensus target price of $9.50.
The company has a quick ratio of 0.45, a current ratio of 1.32 and a debt-to-equity ratio of 0.64.
SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business 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%. SunOpta’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. equities research analysts forecast that SunOpta, Inc. will post -0.09 EPS for the current year.
Several large investors have recently added to or reduced their stakes in STKL. Janus Capital Management LLC lifted its holdings in SunOpta by 1.4% during the 1st quarter. Janus Capital Management LLC now owns 14,869 shares of the company’s stock valued at $103,000 after purchasing an additional 211 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of SunOpta by 0.6% during the second quarter. Aperio Group LLC now owns 52,733 shares of the company’s stock worth $538,000 after buying an additional 313 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SunOpta by 4.8% during the third quarter. Bank of New York Mellon Corp now owns 152,458 shares of the company’s stock worth $1,326,000 after buying an additional 6,996 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SunOpta by 34.3% during the third quarter. JPMorgan Chase & Co. now owns 30,537 shares of the company’s stock worth $258,000 after buying an additional 7,800 shares in the last quarter. Finally, Brant Point Investment Management LLC lifted its holdings in shares of SunOpta by 3.1% during the second quarter. Brant Point Investment Management LLC now owns 336,400 shares of the company’s stock worth $3,431,000 after buying an additional 10,000 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.
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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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