Cooperman Leon G Acquires 160,058 Shares of SunOpta, Inc. $STKL

Key Points

• Cooperman Leon G raised its stake in SunOpta (STKL) by 2.5% in Q3, buying 160,058 shares to own 6,667,109 shares (about 5.64% of the company) valued at roughly $39.07 million, making STKL its 24th-largest holding.
• SunOpta shares opened at $6.44, trade in a 12-month range of $3.32–$6.94, have a market capitalization of $762.24 million and a P/E of 33.89, and are roughly 85.39% institutionally owned.
• Analysts are mixed with a consensus rating of "Hold" and an average target price of $8.00 (2 Buy, 2 Hold, 1 Sell); DA Davidson has a $8 buy target while William Blair recently downgraded the stock to Hold.

Cooperman Leon G lifted its holdings in shares of SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,667,109 shares of the company's stock after buying an additional 160,058 shares during the period. SunOpta comprises 1.2% of Cooperman Leon G's holdings, making the stock its 24th largest position. Cooperman Leon G owned approximately 5.64% of SunOpta worth $39,069,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of SunOpta by 10.2% in the third quarter. Bank of America Corp DE now owns 851,803 shares of the company's stock valued at $4,992,000 after acquiring an additional 78,550 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in SunOpta during the third quarter valued at approximately $371,000. Aquatic Capital Management LLC acquired a new position in SunOpta during the third quarter valued at approximately $72,000. Algert Global LLC grew its stake in SunOpta by 525.3% in the third quarter. Algert Global LLC now owns 318,694 shares of the company's stock valued at $1,868,000 after purchasing an additional 267,726 shares in the last quarter. Finally, Credit Agricole S A bought a new position in SunOpta in the third quarter valued at approximately $1,289,000. Institutional investors own 85.39% of the company's stock.

SunOpta Price Performance

NASDAQ:STKL opened at $6.44 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.18 and a debt-to-equity ratio of 1.27. The stock's 50 day moving average price is $5.49 and its two-hundred day moving average price is $5.15. The firm has a market capitalization of $762.24 million, a price-to-earnings ratio of 33.89 and a beta of 1.04. SunOpta, Inc. has a 12-month low of $3.32 and a 12-month high of $6.94.

Analysts Set New Price Targets

Several research firms have weighed in on STKL. DA Davidson reaffirmed a "buy" rating and set a $8.00 price target on shares of SunOpta in a research report on Monday, February 9th. Weiss Ratings reissued a "sell (d)" rating on shares of SunOpta in a research note on Monday, December 29th. Finally, William Blair downgraded shares of SunOpta from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SunOpta currently has a consensus rating of "Hold" and an average target price of $8.00.

SunOpta Profile

SunOpta Inc NASDAQ: STKL is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company's product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta's integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.

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