Nicholas Investment Partners LP acquired a new stake in SunOpta Inc. (NASDAQ:STKL – Free Report) (TSE:SOY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 275,956 shares of the company’s stock, valued at approximately $1,846,000. Nicholas Investment Partners LP owned approximately 0.23% of SunOpta at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of STKL. State Street Corp increased its stake in shares of SunOpta by 4.4% during the 1st quarter. State Street Corp now owns 36,947 shares of the company’s stock worth $185,000 after purchasing an additional 1,572 shares in the last quarter. Van ECK Associates Corp increased its position in SunOpta by 16.8% during the first quarter. Van ECK Associates Corp now owns 12,828 shares of the company’s stock worth $99,000 after buying an additional 1,843 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of SunOpta by 15.4% in the first quarter. First Trust Direct Indexing L.P. now owns 14,249 shares of the company’s stock worth $110,000 after acquiring an additional 1,901 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of SunOpta by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,271 shares of the company’s stock valued at $146,000 after acquiring an additional 1,961 shares in the last quarter. Finally, Spouting Rock Asset Management LLC boosted its stake in shares of SunOpta by 15.0% during the first quarter. Spouting Rock Asset Management LLC now owns 16,176 shares of the company’s stock valued at $125,000 after acquiring an additional 2,108 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at SunOpta
In related news, Director Lovas Katrina Houde sold 45,000 shares of SunOpta stock in a transaction on Monday, August 21st. The stock was sold at an average price of $4.40, for a total value of $198,000.00. Following the transaction, the director now owns 201,586 shares in the company, valued at $886,978.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.68% of the company’s stock.
SunOpta Trading Down 3.3 %
Analysts Set New Price Targets
A number of research analysts have issued reports on STKL shares. TheStreet lowered shares of SunOpta from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. StockNews.com assumed coverage on shares of SunOpta in a research report on Thursday, October 5th. They set a “sell” rating on the stock. BMO Capital Markets cut their price target on SunOpta from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Canaccord Genuity Group decreased their price objective on SunOpta from $14.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Finally, Mizuho initiated coverage on SunOpta in a research note on Monday, October 2nd. They issued a “buy” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, SunOpta has an average rating of “Moderate Buy” and an average target price of $9.00.
SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products to retailers, foodservice operators, branded food companies, and food manufacturers in the United States, Canada, and internationally. The company operates through Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages segments.
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