Connectus Wealth LLC Sells 18,785 Shares of SunOpta Inc. (NASDAQ:STKL)

Connectus Wealth LLC trimmed its stake in SunOpta Inc. (NASDAQ:STKL – Get Rating) (TSE:SOY) by 14.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,389 shares of the company’s stock after selling 18,785 shares during the period. Connectus Wealth LLC owned approximately 0.11% of SunOpta worth $802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aigen Investment Management LP bought a new stake in shares of SunOpta during the 1st quarter worth approximately $115,000. National Bank of Canada FI lifted its stake in shares of SunOpta by 67.4% during the 1st quarter. National Bank of Canada FI now owns 13,392 shares of the company’s stock worth $68,000 after acquiring an additional 5,394 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in shares of SunOpta during the 1st quarter worth approximately $1,909,000. Cannon Global Investment Management LLC bought a new stake in shares of SunOpta during the 1st quarter worth approximately $168,000. Finally, NTB Financial Corp bought a new stake in shares of SunOpta during the 1st quarter worth approximately $75,000. 74.13% of the stock is owned by institutional investors.

Insider Activity

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

SunOpta Trading Up 1.1 %

Shares of NASDAQ:STKL opened at $9.01 on Friday. SunOpta Inc. has a 12-month low of $4.22 and a 12-month high of $11.01. The business’s fifty day simple moving average is $8.22 and its 200-day simple moving average is $6.43. The company has a market capitalization of $982.57 million, a PE ratio of -180.20 and a beta of 1.57. The company has a current ratio of 2.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.75.

SunOpta (NASDAQ:STKL – Get Rating) (TSE:SOY) last announced its quarterly earnings results on Wednesday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $240.17 million for the quarter, compared to the consensus estimate of $224.58 million. As a group, equities research analysts predict that SunOpta Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com downgraded SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. TheStreet upgraded SunOpta from a “d+” rating to a “c-” rating in a report on Thursday, May 12th.

SunOpta Company Profile

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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.