Cedar Wealth Management LLC Sells 6,521 Shares of SunOpta Inc. (NASDAQ:STKL)

Cedar Wealth Management LLC reduced its position in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of STKL. First Bank & Trust boosted its holdings in shares of SunOpta by 7.9% during the third quarter. First Bank & Trust now owns 25,409 shares of the company’s stock worth $162,000 after acquiring an additional 1,856 shares during the period. Mackenzie Financial Corp lifted its stake in SunOpta by 0.9% during the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock worth $1,370,000 after purchasing an additional 2,155 shares during the last quarter. Creative Planning boosted its stake in SunOpta by 9.3% in the third quarter. Creative Planning now owns 30,716 shares of the company’s stock valued at $196,000 after buying an additional 2,617 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of SunOpta by 13.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,913 shares of the company’s stock valued at $185,000 after purchasing an additional 3,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of SunOpta by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock worth $200,000 after buying an additional 3,521 shares during the last quarter. 85.39% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

SunOpta Price Performance

STKL stock opened at $7.65 on Wednesday. The business has a 50-day simple moving average of $6.57 and a two-hundred day simple moving average of $5.95. SunOpta Inc. has a 52-week low of $4.62 and a 52-week high of $7.75. The company has a market capitalization 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.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. The firm had revenue of $176.22 million during the quarter, compared to analyst estimates of $172.30 million. Research analysts expect that SunOpta Inc. will post 0.13 EPS for the current fiscal 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.