SunOpta Inc. (NASDAQ:STKL) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC lessened its stake in SunOpta Inc. (NASDAQ:STKL – Get Rating) (TSE:SOY) by 14.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 115,389 shares of the company’s stock after selling 18,785 shares during the period. Connectus Wealth LLC’s holdings in SunOpta were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of STKL. National Bank of Canada FI acquired a new position in shares of SunOpta in the 4th quarter valued at about $56,000. Shell Asset Management Co. lifted its holdings in shares of SunOpta by 35.0% in the 4th quarter. Shell Asset Management Co. now owns 8,092 shares of the company’s stock valued at $56,000 after buying an additional 2,096 shares during the period. NTB Financial Corp acquired a new position in SunOpta in the 1st quarter worth about $75,000. GSA Capital Partners LLP acquired a new position in SunOpta in the 4th quarter worth about $81,000. Finally, Smith Moore & CO. acquired a new position in SunOpta in the 4th quarter worth about $83,000. Institutional investors and hedge funds own 74.13% of the company’s stock.

SunOpta Stock Performance

NASDAQ STKL opened at $9.01 on Friday. The stock has a market capitalization of $982.57 million, a price-to-earnings ratio of -180.20 and a beta of 1.57. SunOpta Inc. has a twelve month low of $4.22 and a twelve month high of $11.01. The company has a current ratio of 2.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $8.22 and a 200 day moving average of $6.43.

SunOpta (NASDAQ:STKL – Get Rating) (TSE:SOY) last posted its quarterly earnings data on Wednesday, May 11th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. SunOpta had a positive return on equity of 0.52% and a negative net margin of 0.19%. The company had revenue of $240.17 million during the quarter, compared to analyst estimates of $224.58 million. Sell-side analysts anticipate that SunOpta Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

STKL has been the subject of a number of analyst reports. TheStreet raised SunOpta from a “d+” rating to a “c-” rating in a report on Thursday, May 12th. StockNews.com cut SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th.

Insiders Place Their Bets

In other SunOpta news, major shareholder Engaged Capital Llc sold 602,837 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $7.01, for a total transaction of $4,225,887.37. Following the completion of the sale, the insider now directly owns 437,489 shares in the company, valued at approximately $3,066,797.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider David Largey sold 6,788 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $7.14, for a total value of $48,466.32. Following the completion of the sale, the insider now directly owns 71,355 shares in the company, valued at $509,474.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Engaged Capital Llc sold 602,837 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $7.01, for a total value of $4,225,887.37. Following the completion of the sale, the insider now owns 437,489 shares of the company’s stock, valued at $3,066,797.89. The disclosure for this sale can be found here. 4.68% of the stock is owned by company insiders.

About SunOpta

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SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.