Pictet Asset Management Holding SA Purchases 2,059,976 Shares of SunOpta, Inc. $STKL

Key Points

• Pictet Asset Management Holding SA increased its SunOpta stake by 146.9% in Q4, buying an additional 2,059,976 shares to own 3,462,220 shares (about 2.87% of the company) valued at roughly $13.16 million.
• Institutional investors own 85.39% of SunOpta, and analysts have a consensus "Hold" rating with an average price target of $8.00, versus the recent share price of about $6.50 and a market cap near $786.8 million.

Pictet Asset Management Holding SA raised its position in shares of SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 146.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,462,220 shares of the company's stock after acquiring an additional 2,059,976 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.87% of SunOpta worth $13,157,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in SunOpta during the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in SunOpta by 764.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,502 shares of the company's stock valued at $26,000 after acquiring an additional 3,981 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of SunOpta by 65.5% during the second quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company's stock valued at $54,000 after purchasing an additional 3,669 shares during the last quarter. State of Wyoming purchased a new position in shares of SunOpta during the third quarter valued at approximately $61,000. Finally, SG Americas Securities LLC lifted its holdings in shares of SunOpta by 50.2% during the fourth quarter. SG Americas Securities LLC now owns 17,858 shares of the company's stock valued at $68,000 after purchasing an additional 5,968 shares during the last quarter. 85.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STKL has been the subject of several recent research reports. DA Davidson reiterated a "buy" rating and set a $8.00 target price on shares of SunOpta in a report on Monday, February 9th. William Blair lowered shares of SunOpta from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Two research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.00.

SunOpta Price Performance

STKL stock opened at $6.50 on Friday. The firm has a 50 day moving average price of $6.47 and a 200-day moving average price of $5.23. SunOpta, Inc. has a 52-week low of $3.32 and a 52-week high of $6.94. The firm has a market capitalization of $786.80 million, a price-to-earnings ratio of 49.97 and a beta of 1.03. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.61 and a current ratio of 1.18.

SunOpta Company 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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