Cooperman Leon G Grows Position in SunOpta, Inc. $STKL

Key Points

• Cooperman Leon G increased its stake in SunOpta, Inc. by 9.1%, acquiring an additional 507,990 shares, bringing its total ownership to approximately 6.1 million shares valued at around $29.6 million.
• Other hedge funds are also ramping up their investments in SunOpta, with Bayesian Capital Management and EP Wealth Advisors boosting their holdings between 11.9% to 15.2% in recent quarters.
• SunOpta reported a quarterly profit of $0.04 per share, surpassing estimates of $0.02, while achieving revenue of $191.49 million, defeating analyst expectations of $185.36 million.

Cooperman Leon G grew its position in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 9.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,097,331 shares of the company's stock after buying an additional 507,990 shares during the quarter. SunOpta accounts for about 1.2% of Cooperman Leon G's portfolio, making the stock its 24th largest holding. Cooperman Leon G owned about 5.19% of SunOpta worth $29,633,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STKL. Wells Fargo & Company MN boosted its position in shares of SunOpta by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 50,096 shares of the company's stock worth $386,000 after acquiring an additional 15,847 shares in the last quarter. Stifel Financial Corp acquired a new stake in SunOpta in the fourth quarter valued at approximately $326,000. Price T Rowe Associates Inc. MD increased its holdings in shares of SunOpta by 25.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,881 shares of the company's stock worth $292,000 after buying an additional 7,790 shares in the last quarter. Northern Trust Corp lifted its stake in shares of SunOpta by 3.7% in the 4th quarter. Northern Trust Corp now owns 785,201 shares of the company's stock valued at $6,046,000 after acquiring an additional 28,268 shares during the last quarter. Finally, Algert Global LLC bought a new stake in SunOpta during the 4th quarter worth $141,000. Institutional investors and hedge funds own 85.39% of the company's stock.

SunOpta Trading Up 2.5%

Shares of NASDAQ:STKL traded up $0.16 during midday trading on Friday, hitting $6.59. 668,861 shares of the stock were exchanged, compared to its average volume of 632,798. The business's 50-day moving average price is $6.20 and its 200 day moving average price is $5.67. SunOpta, Inc. has a 12 month low of $3.64 and a 12 month high of $8.11. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.39 and a current ratio of 0.96. The stock has a market capitalization of $774.60 million, a price-to-earnings ratio of -109.83 and a beta of 1.35.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last released its earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $191.49 million during the quarter, compared to the consensus estimate of $185.36 million. SunOpta had a negative net margin of 0.66% and a positive return on equity of 12.82%. Analysts predict that SunOpta, Inc. will post 0.13 earnings per share for the current year.

Insider Activity

In other news, CEO Brian W. Kocher bought 10,000 shares of SunOpta stock in a transaction dated Tuesday, June 10th. The stock was bought at an average cost of $5.72 per share, for a total transaction of $57,200.00. Following the purchase, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

About SunOpta

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.