Bank of America Corp DE Boosts Stock Position in SunOpta Inc. (NASDAQ:STKL)

Bank of America Corp DE lifted its stake in SunOpta Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,595 shares of the company's stock after buying an additional 99,496 shares during the quarter. Bank of America Corp DE owned approximately 0.36% of SunOpta worth $3,316,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of SunOpta in the fourth quarter worth about $36,000. D.A. Davidson & CO. purchased a new stake in shares of SunOpta in the fourth quarter worth about $81,000. Quadrant Capital Group LLC boosted its stake in shares of SunOpta by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company's stock worth $112,000 after buying an additional 1,923 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of SunOpta by 64.7% in the fourth quarter. Van ECK Associates Corp now owns 18,070 shares of the company's stock worth $139,000 after buying an additional 7,097 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of SunOpta in the fourth quarter worth about $141,000. Hedge funds and other institutional investors own 85.39% of the company's stock.

SunOpta Price Performance

Shares of SunOpta stock traded down $0.06 during mid-day trading on Monday, reaching $6.18. 990,547 shares of the stock traded hands, compared to its average volume of 762,936. The business has a 50-day moving average of $4.90 and a 200 day moving average of $6.36. SunOpta Inc. has a fifty-two week low of $3.65 and a fifty-two week high of $8.11. The stock has a market capitalization of $726.41 million, a PE ratio of -34.33 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The business had revenue of $201.63 million during the quarter, compared to analysts' expectations of $195.09 million. On average, analysts predict that SunOpta Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised SunOpta from a "sell" rating to a "hold" rating in a report on Tuesday, March 11th.

Insider Activity

In other news, SVP Bryan P. Clark sold 8,500 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.32, for a total value of $45,220.00. Following the completion of the sale, the senior vice president now directly owns 28,150 shares in the company, valued at $149,758. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company's stock.

SunOpta Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.