Reynders McVeigh Capital Management LLC Sells 18,900 Shares of SunOpta Inc. (NASDAQ:STKL)

Reynders McVeigh Capital Management LLC cut its stake in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 64.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,600 shares of the company’s stock after selling 18,900 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in SunOpta were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STKL. NBC Securities Inc. purchased a new position in SunOpta during the 4th quarter worth $65,000. Realta Investment Advisors acquired a new stake in shares of SunOpta in the 4th quarter worth $66,000. Principal Financial Group Inc. boosted its position in shares of SunOpta by 18.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock worth $85,000 after purchasing an additional 1,917 shares in the last quarter. Tealwood Asset Management Inc. acquired a new stake in shares of SunOpta in the 4th quarter worth $68,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of SunOpta in the 4th quarter worth $71,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

SunOpta Price Performance

Shares of SunOpta stock traded down $0.03 on Monday, hitting $5.25. The company’s stock had a trading volume of 198,189 shares, compared to its average volume of 809,340. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.63 and a current ratio of 1.22. SunOpta Inc. has a 1 year low of $2.79 and a 1 year high of $7.59. The firm has a fifty day moving average price of $5.54 and a 200-day moving average price of $5.96. The company has a market capitalization of $626.54 million, a price-to-earnings ratio of -3.48 and a beta of 1.85.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut SunOpta from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, SunOpta currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

SunOpta 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.