Harbor Capital Advisors Inc. Has $3.38 Million Stock Holdings in SunOpta, Inc. $STKL

Harbor Capital Advisors Inc. decreased its holdings in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 68.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,399 shares of the company’s stock after selling 1,254,541 shares during the quarter. Harbor Capital Advisors Inc. owned 0.48% of SunOpta worth $3,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in SunOpta by 3,725.7% during the 2nd quarter. SG Americas Securities LLC now owns 982,047 shares of the company’s stock worth $5,696,000 after acquiring an additional 956,377 shares during the period. Granahan Investment Management LLC lifted its position in shares of SunOpta by 20.3% in the first quarter. Granahan Investment Management LLC now owns 3,346,836 shares of the company’s stock worth $16,266,000 after purchasing an additional 564,621 shares in the last quarter. Cooperman Leon G boosted its holdings in shares of SunOpta by 9.1% during the first quarter. Cooperman Leon G now owns 6,097,331 shares of the company’s stock worth $29,633,000 after purchasing an additional 507,990 shares during the period. JPMorgan Chase & Co. grew its position in SunOpta by 236.3% during the second quarter. JPMorgan Chase & Co. now owns 536,893 shares of the company’s stock valued at $3,114,000 after purchasing an additional 377,237 shares in the last quarter. Finally, Rip Road Capital Partners LP increased its stake in SunOpta by 213.2% in the 1st quarter. Rip Road Capital Partners LP now owns 500,814 shares of the company’s stock valued at $2,434,000 after buying an additional 340,914 shares during the period. 85.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SunOpta

In related news, CFO Greg Gaba acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average cost of $3.39 per share, with a total value of $50,850.00. Following the purchase, the chief financial officer owned 110,970 shares of the company’s stock, valued at approximately $376,188.30. The trade was a 15.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

SunOpta Stock Up 3.4%

SunOpta stock opened at $3.79 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34. SunOpta, Inc. has a 1-year low of $3.32 and a 1-year high of $7.93. The firm’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $5.47. The company has a market capitalization of $457.04 million, a P/E ratio of 19.26 and a beta of 1.11.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, November 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. SunOpta had a net margin of 0.16% and a return on equity of 14.91%. The firm had revenue of $205.41 million for the quarter, compared to the consensus estimate of $195.57 million. Sell-side analysts forecast that SunOpta, Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research lowered shares of SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of SunOpta in a report on Monday. Finally, Mizuho reduced their price objective on SunOpta from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.00.

SunOpta Company Profile

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.