Hodges Capital Management Inc. Has $5.88 Million Stock Position in SunOpta, Inc. $STKL

Key Points

• Hodges Capital Management Inc. significantly reduced its stake in SunOpta, Inc. by 66.8%, selling over 2.4 million shares and now holding approximately 1.03% of the company.
• Despite the sell-off, other institutional investors have increased their stakes in SunOpta, with 85.39% of the stock now owned by such investors.
• SunOpta's stock has shown positive performance lately, increasing 2.7% as of Friday, following a strong earnings report that beat consensus estimates.

Hodges Capital Management Inc. trimmed its stake in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 66.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,209,566 shares of the company's stock after selling 2,437,295 shares during the quarter. Hodges Capital Management Inc. owned 1.03% of SunOpta worth $5,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Cooperman Leon G lifted its position in shares of 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. Granahan Investment Management LLC lifted its position in shares of SunOpta by 20.3% in the first quarter. Granahan Investment Management LLC now owns 3,346,836 shares of the company's stock worth $16,266,000 after purchasing an additional 564,621 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of SunOpta by 4.3% in the first quarter. Harbor Capital Advisors Inc. now owns 1,836,989 shares of the company's stock worth $8,928,000 after purchasing an additional 75,067 shares in the last quarter. Blair William & Co. IL lifted its position in shares of SunOpta by 1.3% in the first quarter. Blair William & Co. IL now owns 1,686,169 shares of the company's stock worth $8,195,000 after purchasing an additional 21,925 shares in the last quarter. Finally, Woodline Partners LP lifted its position in shares of SunOpta by 26.2% in the fourth 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 in the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.

SunOpta Stock Up 0.2%

STKL traded up $0.02 during midday trading on Wednesday, hitting $6.44. 91,126 shares of the company's stock traded hands, compared to its average volume of 837,053. The company has a market cap of $760.55 million, a PE ratio of -107.08 and a beta of 1.35. The stock's fifty day simple moving average is $6.23 and its 200-day simple moving average is $5.63. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.96 and a quick ratio of 0.39. SunOpta, Inc. has a one year low of $3.64 and a one year high of $8.11.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm 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%. As a group, equities analysts anticipate 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.