Cedar Wealth Management LLC Cuts Stake in SunOpta Inc. (NASDAQ:STKL)

Cedar Wealth Management LLC lessened its holdings in SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 14.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,677 shares of the company’s stock after selling 6,521 shares during the quarter. Cedar Wealth Management LLC’s holdings in SunOpta were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in STKL. Hantz Financial Services Inc. purchased a new stake in shares of SunOpta during the second quarter valued at approximately $42,000. US Bancorp DE boosted its position in SunOpta by 139.3% during the 3rd quarter. US Bancorp DE now owns 8,197 shares of the company’s stock valued at $52,000 after buying an additional 4,772 shares during the period. Ballentine Partners LLC bought a new stake in SunOpta in the 2nd quarter worth $60,000. MQS Management LLC bought a new stake in shares of SunOpta in the second quarter worth about $63,000. Finally, Tealwood Asset Management Inc. bought a new stake in shares of SunOpta in the 3rd quarter worth approximately $80,000. 85.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on STKL. DA Davidson reiterated a “buy” rating and set a $9.00 price target on shares of SunOpta in a research report on Thursday, October 10th. Stephens upped their price target on shares of SunOpta from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised SunOpta from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Insider Buying and Selling at SunOpta

In other SunOpta news, insider Robert Duchscher sold 50,000 shares of SunOpta stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.33, for a total transaction of $366,500.00. Following the completion of the transaction, the insider now directly owns 42,971 shares of the company’s stock, valued at $314,977.43. The trade was a 53.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.48% of the stock is currently owned by company insiders.

SunOpta Price Performance

Shares of SunOpta stock opened at $7.65 on Wednesday. The stock has a market cap of $913.79 million, a P/E ratio of -42.50 and a beta of 1.83. 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 stock’s fifty day moving average is $6.57 and its 200 day moving average is $5.95. SunOpta Inc. has a one year low of $4.62 and a one year high of $7.75.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $176.22 million during the quarter, compared to analysts’ expectations of $172.30 million. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. Sell-side analysts anticipate that SunOpta Inc. will post 0.13 earnings per share for the current year.

SunOpta Company 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.