SunOpta, Inc. (STKL) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835,376 shares of the company’s stock after selling 47,833 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 2.13% of SunOpta worth $18,693,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Montag A & Associates Inc. increased its stake in shares of SunOpta by 88.9% in the second quarter. Montag A & Associates Inc. now owns 580,648 shares of the company’s stock valued at $5,923,000 after buying an additional 273,277 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of SunOpta during the second quarter valued at $165,000. Blair William & Co. IL acquired a new stake in shares of SunOpta during the second quarter valued at $4,565,000. Bank of New York Mellon Corp increased its stake in shares of SunOpta by 96.1% in the second quarter. Bank of New York Mellon Corp now owns 145,462 shares of the company’s stock valued at $1,483,000 after buying an additional 71,266 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of SunOpta by 4.6% in the second quarter. Pictet Asset Management Ltd. now owns 559,216 shares of the company’s stock valued at $5,201,000 after buying an additional 24,393 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.
SunOpta, Inc. (NASDAQ STKL) opened at 8.60 on Tuesday. SunOpta, Inc. has a 12 month low of $5.73 and a 12 month high of $10.20. The stock’s 50 day moving average price is $9.38 and its 200 day moving average price is $8.31. The firm’s market capitalization is $743.87 million.
SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.02. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The company had revenue of $336.45 million during the quarter, compared to analyst estimates of $341.18 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that SunOpta, Inc. will post $0.02 earnings per share for the current fiscal year.
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Several brokerages have weighed in on STKL. BidaskClub downgraded SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded SunOpta from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. lifted their target price on SunOpta from $8.00 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. SunOpta currently has an average rating of “Hold” and an average target price of $9.30.
In other SunOpta news, insider Jeffrey Gough purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $8.70 per share, for a total transaction of $43,500.00. Following the completion of the acquisition, the insider now owns 20,000 shares in the company, valued at $174,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.88% of the stock is currently owned by insiders.
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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