SunOpta (NASDAQ:STKL) (TSE:SOY) issued its earnings results on Wednesday. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04), MarketWatch Earnings reports. The business had revenue of $308.37 million during the quarter, compared to analyst estimates of $317.80 million. SunOpta had a negative return on equity of 6.70% and a negative net margin of 10.53%.
SunOpta stock traded down $0.21 during mid-day trading on Friday, hitting $5.24. 832,636 shares of the company were exchanged, compared to its average volume of 322,810. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.23 and a quick ratio of 0.40. SunOpta has a 1-year low of $5.00 and a 1-year high of $9.10. The firm has a market capitalization of $597.01 million, a P/E ratio of -37.43 and a beta of 1.17.
A number of institutional investors have recently added to or reduced their stakes in the business. Engaged Capital LLC raised its stake in SunOpta by 1.5% during the second quarter. Engaged Capital LLC now owns 6,856,907 shares of the company’s stock worth $57,598,000 after acquiring an additional 100,000 shares in the last quarter. FMR LLC raised its stake in SunOpta by 9.9% during the third quarter. FMR LLC now owns 3,583,533 shares of the company’s stock worth $26,339,000 after acquiring an additional 323,483 shares in the last quarter. Ardsley Advisory Partners raised its stake in SunOpta by 12.3% during the second quarter. Ardsley Advisory Partners now owns 2,976,801 shares of the company’s stock worth $25,005,000 after acquiring an additional 325,000 shares in the last quarter. Overbrook Management Corp raised its stake in SunOpta by 103.6% during the second quarter. Overbrook Management Corp now owns 2,238,273 shares of the company’s stock worth $18,801,000 after acquiring an additional 1,138,822 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SunOpta by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,723,495 shares of the company’s stock worth $14,507,000 after acquiring an additional 57,148 shares in the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub lowered SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 13th. Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine lowered SunOpta from a “buy” rating to a “hold” rating in a research note on Wednesday.
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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, Mexico, and Ethiopia. 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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