Harbor Capital Advisors Inc. Raises Stock Position in SunOpta Inc. (NASDAQ:STKL)

Harbor Capital Advisors Inc. boosted its holdings in shares of SunOpta Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 127.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,063,918 shares of the company's stock after acquiring an additional 596,403 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.89% of SunOpta worth $6,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STKL. Hantz Financial Services Inc. purchased a new position in shares of SunOpta during the 2nd quarter worth $42,000. US Bancorp DE increased its position in shares of SunOpta by 139.3% during the third quarter. US Bancorp DE now owns 8,197 shares of the company's stock valued at $52,000 after acquiring an additional 4,772 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of SunOpta in the 2nd quarter valued at approximately $60,000. MQS Management LLC acquired a new position in shares of SunOpta in the 2nd quarter worth approximately $63,000. Finally, Tealwood Asset Management Inc. purchased a new position in shares of SunOpta during the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 85.39% of the company's stock.

SunOpta Stock Up 3.9 %

STKL stock traded up $0.25 during midday trading on Friday, hitting $6.80. The company's stock had a trading volume of 1,332,164 shares, compared to its average volume of 696,228. The firm has a 50-day simple moving average of $6.23 and a 200-day simple moving average of $5.85. The firm has a market capitalization of $812.26 million, a P/E ratio of -4.89 and a beta of 1.83. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. SunOpta Inc. has a 52-week low of $3.80 and a 52-week high of $7.59.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last released its earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $171.00 million during the quarter, compared to analysts' expectations of $159.95 million. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. SunOpta's revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities analysts forecast that SunOpta Inc. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on STKL. DA Davidson reissued a "buy" rating and issued a $9.00 target price on shares of SunOpta in a research report on Thursday, October 10th. StockNews.com downgraded SunOpta from a "hold" rating to a "sell" rating in a report on Friday.

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.