State Board of Administration of Florida Retirement System Purchases Shares of 13,280 SunOpta Inc. (NASDAQ:STKL)

State Board of Administration of Florida Retirement System purchased a new stake in SunOpta Inc. (NASDAQ:STKL – Get Rating) (TSE:SOY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,280 shares of the company’s stock, valued at approximately $112,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of SunOpta by 5,847.3% during the 1st quarter. Royal Bank of Canada now owns 1,365,254 shares of the company’s stock worth $6,853,000 after acquiring an additional 1,342,298 shares in the last quarter. State Street Corp raised its holdings in SunOpta by 3,256.3% in the 2nd quarter. State Street Corp now owns 1,240,051 shares of the company’s stock valued at $9,648,000 after acquiring an additional 1,203,104 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in SunOpta by 298.9% in the 4th quarter. Hodges Capital Management Inc. now owns 1,379,256 shares of the company’s stock valued at $11,641,000 after acquiring an additional 1,033,494 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in SunOpta in the 3rd quarter valued at about $8,286,000. Finally, Northern Trust Corp acquired a new stake in SunOpta in the 2nd quarter valued at about $5,199,000. 74.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SunOpta

In other news, SVP Mike Buick sold 7,000 shares of SunOpta stock in a transaction on Friday, March 10th. The shares were sold at an average price of $7.80, for a total transaction of $54,600.00. Following the completion of the sale, the senior vice president now directly owns 146,519 shares of the company’s stock, valued at approximately $1,142,848.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.82% of the stock is currently owned by corporate insiders.

SunOpta Stock Up 2.2 %

Shares of NASDAQ STKL opened at $7.57 on Wednesday. The company has a 50 day simple moving average of $7.90 and a 200-day simple moving average of $8.30. The company has a market capitalization of $892.62 million, a P/E ratio of -75.70 and a beta of 1.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.75 and a quick ratio of 0.60. SunOpta Inc. has a 1 year low of $6.57 and a 1 year high of $11.67.

SunOpta (NASDAQ:STKL – Get Rating) (TSE:SOY) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.02 EPS for the quarter. SunOpta had a negative net margin of 0.93% and a positive return on equity of 4.50%. The company had revenue of $221.29 million during the quarter, compared to analysts’ expectations of $220.60 million. During the same quarter last year, the company posted ($0.01) EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that SunOpta Inc. will post 0.07 earnings per share for the current year.

Analysts Set New Price Targets

STKL has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of SunOpta from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, March 3rd. StockNews.com downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a report on Friday, May 12th.

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.