SunOpta, Inc. $STKL Position Decreased by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC reduced its stake in SunOpta, Inc. by 16.5% in the 2nd quarter, selling 58,645 shares and now holding 297,181 shares valued at approximately $1.72 million.
• Various institutional investors have adjusted their positions in SunOpta, with Boyar Asset Management increasing its stake by 15.1% and Jane Street Group boosting its holdings by an impressive 607.5%.
• SunOpta reported earnings per share (EPS) of $0.04, surpassing analysts' expectations, along with a revenue of $191.49 million for the quarter, exceeding projected figures.

Tectonic Advisors LLC decreased its holdings in shares of SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 16.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,181 shares of the company's stock after selling 58,645 shares during the period. Tectonic Advisors LLC owned approximately 0.25% of SunOpta worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Boyar Asset Management Inc. boosted its position in shares of SunOpta by 15.1% during the 2nd quarter. Boyar Asset Management Inc. now owns 34,386 shares of the company's stock valued at $199,000 after purchasing an additional 4,500 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of SunOpta in the second quarter worth about $120,000. Rhumbline Advisers boosted its holdings in shares of SunOpta by 5.1% in the first quarter. Rhumbline Advisers now owns 147,519 shares of the company's stock worth $717,000 after buying an additional 7,209 shares during the period. Jane Street Group LLC boosted its holdings in shares of SunOpta by 607.5% in the first quarter. Jane Street Group LLC now owns 281,976 shares of the company's stock worth $1,370,000 after buying an additional 242,121 shares during the period. Finally, First Dallas Securities Inc. boosted its holdings in shares of SunOpta by 42.6% in the first quarter. First Dallas Securities Inc. now owns 67,000 shares of the company's stock worth $326,000 after buying an additional 20,000 shares during the period. Institutional investors own 85.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of SunOpta in a report on Wednesday. Zacks Research cut shares of SunOpta from a "strong-buy" rating to a "hold" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.50.

SunOpta Price Performance

NASDAQ STKL opened at $5.97 on Thursday. 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 stock has a market capitalization of $720.82 million, a PE ratio of -99.50 and a beta of 1.40. The company has a 50 day moving average price of $6.13 and a two-hundred day moving average price of $5.68. SunOpta, Inc. has a 12-month low of $3.64 and a 12-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 (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $191.49 million during the quarter, compared to analysts' expectations of $185.36 million. SunOpta had a negative net margin of 0.66% and a positive return on equity of 12.82%. As a group, equities analysts predict that SunOpta, Inc. will post 0.13 earnings per share for the current fiscal year.

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.

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