SunOpta (NASDAQ:STKL) Major Shareholder Sells $134,236,778.00 in Stock

Key Points

• Oaktree Capital Group Holdings sold 20,651,812 SunOpta shares at an average of $6.50 on May 1, a transaction totaling $134,236,778 disclosed in an SEC filing.
• Shares were trading around $6.49 (down ~0.1%) on heavy volume (~2.9M vs. a 951k average), giving SunOpta a market cap of about $786M, with institutional investors owning roughly 85.4% of the stock.
• Analysts are mixed: two Buy, two Hold and one Sell, resulting in an average rating of “Hold” and an average price target of $8.00.

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY major shareholder Oaktree Capital Group Holdings sold 20,651,812 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.50, for a total transaction of $134,236,778.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

SunOpta Trading Down 0.1%

Shares of NASDAQ:STKL traded down $0.01 during midday trading on Tuesday, hitting $6.49. 2,917,184 shares of the stock were exchanged, compared to its average volume of 951,792. The business's 50-day moving average price is $6.47 and its 200 day moving average price is $5.22. SunOpta, Inc. has a 12 month low of $3.32 and a 12 month high of $6.94. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.61 and a current ratio of 1.18. The stock has a market capitalization of $786.32 million, a price-to-earnings ratio of 49.93 and a beta of 1.03.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. William Blair downgraded SunOpta from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. DA Davidson reiterated a "buy" rating and issued a $8.00 target price on shares of SunOpta in a report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STKL. The Manufacturers Life Insurance Company raised its holdings in shares of SunOpta by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 35,586 shares of the company's stock valued at $206,000 after purchasing an additional 1,926 shares during the last quarter. Van ECK Associates Corp boosted its holdings in SunOpta by 8.6% during the fourth quarter. Van ECK Associates Corp now owns 24,438 shares of the company's stock worth $93,000 after purchasing an additional 1,942 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SunOpta by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,001 shares of the company's stock worth $272,000 after purchasing an additional 2,424 shares in the last quarter. R Squared Ltd grew its position in SunOpta by 20.3% in the 4th quarter. R Squared Ltd now owns 15,874 shares of the company's stock worth $60,000 after purchasing an additional 2,682 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in SunOpta by 4.7% in the 4th quarter. Deutsche Bank AG now owns 76,178 shares of the company's stock valued at $289,000 after buying an additional 3,449 shares during the last quarter. Institutional investors own 85.39% of the company's stock.

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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