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SunOpta (NASDAQ:STKL) Trading Down 4.2% - Here's What Happened

SunOpta logo with Consumer Staples background

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY dropped 4.2% on Wednesday . The stock traded as low as $6.20 and last traded at $6.21. Approximately 460,491 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 869,271 shares. The stock had previously closed at $6.48.

SunOpta Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.43 and a current ratio of 0.95. The company has a market cap of $735.80 million, a P/E ratio of -48.15 and a beta of 1.43. The company has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $6.02.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 11.65% and a negative net margin of 1.90%. The business had revenue of $201.63 million during the quarter, compared to analysts' expectations of $195.09 million. On average, sell-side analysts anticipate that SunOpta, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian W. Kocher acquired 10,000 shares of SunOpta stock in a transaction dated Tuesday, June 10th. The stock was bought at an average price of $5.72 per share, for a total transaction of $57,200.00. Following the completion of the acquisition, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SunOpta

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of SunOpta by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 774,918 shares of the company's stock valued at $5,967,000 after buying an additional 15,049 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SunOpta in the fourth quarter valued at approximately $1,289,000. Johnson Investment Counsel Inc. boosted its stake in shares of SunOpta by 55.5% in the fourth quarter. Johnson Investment Counsel Inc. now owns 26,998 shares of the company's stock valued at $208,000 after buying an additional 9,635 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SunOpta in the fourth quarter valued at approximately $733,000. Finally, Swiss National Bank boosted its stake in shares of SunOpta by 9.1% in the fourth quarter. Swiss National Bank now owns 188,725 shares of the company's stock valued at $1,457,000 after buying an additional 15,800 shares during the period. Institutional investors own 85.39% of the company's stock.

SunOpta Company Profile

(Get Free Report)

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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