River & Mercantile Asset Management LLP Acquires New Stake in SunOpta, Inc. (NASDAQ:STKL)

River & Mercantile Asset Management LLP acquired a new stake in SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 466,187 shares of the company’s stock, valued at approximately $1,534,000.

Several other hedge funds have also recently bought and sold shares of STKL. FMR LLC raised its holdings in shares of SunOpta by 5.4% in 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 period. Tokio Marine Asset Management Co. Ltd. increased its holdings in SunOpta by 16.8% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 94,500 shares of the company’s stock worth $311,000 after purchasing an additional 13,600 shares during the period. Aperio Group LLC increased its holdings in SunOpta by 76.4% during the 2nd quarter. Aperio Group LLC now owns 25,630 shares of the company’s stock worth $84,000 after purchasing an additional 11,097 shares during the period. Wedge Capital Management L L P NC purchased a new stake in SunOpta during the 2nd quarter worth about $1,007,000. Finally, GSA Capital Partners LLP purchased a new stake in SunOpta during the 2nd quarter worth about $158,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

In related news, SVP Geradus Joseph Maria Versteegh purchased 100,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $2.15 per share, for a total transaction of $215,000.00. Following the acquisition, the senior vice president now directly owns 185,889 shares in the company, valued at $399,661.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Dean Hollis purchased 75,360 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $2.08 per share, for a total transaction of $156,748.80. Following the acquisition, the director now owns 334,279 shares in the company, valued at $695,300.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 294,670 shares of company stock worth $639,810. 2.16% of the stock is owned by company insiders.

Several equities research analysts have weighed in on the company. Citigroup set a $3.00 price target on SunOpta and gave the stock a “buy” rating in a report on Monday, August 12th. BidaskClub downgraded SunOpta from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. ValuEngine upgraded SunOpta from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. SunOpta currently has an average rating of “Hold” and a consensus price target of $3.00.

NASDAQ STKL traded up $0.02 during trading hours on Wednesday, hitting $1.49. 1,800 shares of the company were exchanged, compared to its average volume of 460,621. The company has a 50 day moving average of $2.17 and a two-hundred day moving average of $3.10. The company has a quick ratio of 0.37, a current ratio of 1.23 and a debt-to-equity ratio of 1.94. SunOpta, Inc. has a 52-week low of $1.42 and a 52-week high of $7.74. The firm has a market cap of $131.71 million, a price-to-earnings ratio of -5.36 and a beta of 0.70.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). SunOpta had a negative return on equity of 14.49% and a negative net margin of 6.93%. The company had revenue of $293.00 million for the quarter, compared to analysts’ expectations of $302.40 million. On average, equities research analysts predict that SunOpta, Inc. will post -0.39 EPS for the current year.

SunOpta Company Profile

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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Institutional Ownership by Quarter for SunOpta (NASDAQ:STKL)

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