Hodges Capital Management Inc. Sells 640,719 Shares of SunOpta Inc. (NASDAQ:STKL)

Hodges Capital Management Inc. trimmed its stake in SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 18.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,875,227 shares of the company’s stock after selling 640,719 shares during the quarter. SunOpta accounts for 1.3% of Hodges Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Hodges Capital Management Inc.’s holdings in SunOpta were worth $19,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in STKL. PNC Financial Services Group Inc. boosted its holdings in SunOpta by 50.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,189 shares of the company’s stock worth $34,000 after acquiring an additional 3,439 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of SunOpta during the third quarter valued at $37,000. NBC Securities Inc. bought a new position in shares of SunOpta during the fourth quarter valued at $65,000. Realta Investment Advisors bought a new position in shares of SunOpta during the fourth quarter valued at $66,000. Finally, Tealwood Asset Management Inc. bought a new position in shares of SunOpta during the fourth quarter valued at $68,000. 85.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STKL. DA Davidson upped their price target on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. StockNews.com downgraded SunOpta from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.25.

SunOpta Price Performance

SunOpta stock traded down $0.18 during mid-day trading on Friday, reaching $5.40. 965,347 shares of the stock traded hands, compared to its average volume of 485,763. The company has a quick ratio of 0.63, a current ratio of 1.22 and a debt-to-equity ratio of 1.39. SunOpta Inc. has a 12-month low of $2.79 and a 12-month high of $7.59. The business’s 50-day moving average is $5.72 and its 200-day moving average is $5.93.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $168.87 million. SunOpta had a positive return on equity of 2.50% and a negative net margin of 24.00%. SunOpta’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Equities research analysts anticipate that SunOpta Inc. will post 0.13 earnings per share for the current year.

SunOpta Company Profile

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.