SunOpta Inc. (NASDAQ:STKL) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC reduced its position in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 266,004 shares of the company’s stock after selling 2,558 shares during the period. Tectonic Advisors LLC owned 0.22% of SunOpta worth $1,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in shares of SunOpta in the second quarter valued at approximately $42,000. Ballentine Partners LLC acquired a new position in shares of SunOpta in the 2nd quarter valued at $60,000. MQS Management LLC acquired a new position in shares of SunOpta in the 2nd quarter valued at $63,000. Tealwood Asset Management Inc. acquired a new position in SunOpta in the 3rd quarter valued at $80,000. Finally, Principal Financial Group Inc. increased its stake in SunOpta by 18.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock valued at $85,000 after buying an additional 1,917 shares during the period. 85.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on STKL. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. DA Davidson restated a “buy” rating and issued a $9.00 target price on shares of SunOpta in a report on Thursday, October 10th.

SunOpta Stock Performance

Shares of STKL opened at $5.89 on Friday. SunOpta Inc. has a 1 year low of $3.77 and a 1 year high of $7.59. The firm has a fifty day moving average of $6.23 and a 200-day moving average of $5.86. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.61 and a current ratio of 1.27. The company has a market cap of $702.91 million, a price-to-earnings ratio of -3.88 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $171.00 million for the quarter, compared to analysts’ expectations of $159.95 million. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. SunOpta’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. As a group, equities analysts anticipate that SunOpta Inc. will post 0.14 earnings per share for the current year.

About SunOpta

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.