Granahan Investment Management LLC Boosts Holdings in SunOpta, Inc. $STKL

Key Points

• Granahan Investment Management LLC increased its stake in SunOpta, Inc. by 20.3%, acquiring an additional 564,621 shares to own a total of approximately 3.35 million shares valued at $16.27 million.
• Other institutional investors also boosted their investments, with 85.39% of SunOpta's stock now owned by institutional investors, reflecting growing interest in the company.
• SunOpta reported an earnings per share (EPS) of $0.04 for the quarter, exceeding estimates and indicating a positive return on equity of 12.82%, while revenue reached $191.49 million.

Granahan Investment Management LLC boosted its stake in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 20.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,346,836 shares of the company's stock after buying an additional 564,621 shares during the quarter. Granahan Investment Management LLC owned approximately 2.85% of SunOpta worth $16,266,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Cooperman Leon G grew its stake in SunOpta by 9.1% in the first quarter. Cooperman Leon G now owns 6,097,331 shares of the company's stock worth $29,633,000 after purchasing an additional 507,990 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of SunOpta by 4.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,836,989 shares of the company's stock valued at $8,928,000 after purchasing an additional 75,067 shares during the last quarter. Blair William & Co. IL lifted its position in SunOpta by 1.3% during the 1st quarter. Blair William & Co. IL now owns 1,686,169 shares of the company's stock worth $8,195,000 after acquiring an additional 21,925 shares during the last quarter. Woodline Partners LP increased its holdings in shares of SunOpta by 26.2% during the 4th quarter. Woodline Partners LP now owns 1,541,019 shares of the company's stock worth $11,866,000 after purchasing an additional 320,284 shares during the period. Finally, Millennium Management LLC grew its stake in SunOpta by 7.2% during the fourth quarter. Millennium Management LLC now owns 1,429,118 shares of the company's stock worth $11,005,000 after buying an additional 96,282 shares during the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.

SunOpta Trading Down 2.9%

NASDAQ STKL traded down $0.19 during trading hours on Wednesday, hitting $6.23. The company's stock had a trading volume of 113,561 shares, compared to its average volume of 848,075. The stock has a fifty day moving average of $6.22 and a 200 day moving average of $5.65. The company has a quick ratio of 0.39, a current ratio of 0.96 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $736.44 million, a P/E ratio of -103.95 and a beta of 1.35. SunOpta, Inc. has a twelve month low of $3.64 and a twelve month high of $8.11.

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

SunOpta Company 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.