Pictet Asset Management Holding SA Reduces Stock Position in SunOpta Inc. (NASDAQ:STKL)

Pictet Asset Management Holding SA trimmed its position in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014,043 shares of the company’s stock after selling 139,175 shares during the quarter. Pictet Asset Management Holding SA owned 1.68% of SunOpta worth $15,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in SunOpta by 250.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,869 shares of the company’s stock valued at $4,848,000 after buying an additional 542,832 shares during the period. PDT Partners LLC bought a new stake in shares of SunOpta during the 3rd quarter valued at $726,000. State Street Corp increased its stake in shares of SunOpta by 18.9% in the 3rd quarter. State Street Corp now owns 1,827,273 shares of the company’s stock worth $11,658,000 after purchasing an additional 290,372 shares in the last quarter. Barclays PLC raised its holdings in SunOpta by 103.3% in the 3rd quarter. Barclays PLC now owns 178,954 shares of the company’s stock worth $1,142,000 after purchasing an additional 90,937 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in SunOpta during the fourth quarter valued at $733,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on STKL shares. StockNews.com upgraded SunOpta from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Stephens reiterated an “overweight” rating and set a $10.00 price objective on shares of SunOpta in a research note on Thursday, January 2nd.

SunOpta Trading Down 3.3 %

Shares of SunOpta stock opened at $4.70 on Wednesday. SunOpta Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $8.11. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.53 and a current ratio of 1.20. The company has a market capitalization of $562.85 million, a P/E ratio of -26.11 and a beta of 1.90. The company has a fifty day moving average of $6.45 and a 200 day moving average of $6.87.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The firm had revenue of $193.91 million during the quarter, compared to analysts’ expectations of $189.90 million. On average, sell-side analysts anticipate that SunOpta Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other SunOpta news, SVP Bryan P. Clark sold 8,500 shares of SunOpta stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.32, for a total value of $45,220.00. Following the sale, the senior vice president now directly owns 28,150 shares in the company, valued at approximately $149,758. The trade was a 23.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.48% of the company’s stock.

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.