Lorem Ipsum Management adds SunOpta (USA) (STKL) to its portfolio

SunOpta (USA) (STKL) : Lorem Ipsum Management added new position in SunOpta (USA) during the most recent quarter end. The investment management firm now holds 175,000 shares of SunOpta (USA) which is valued at $1,141,000 , the company said in a statement filed on Oct 11, 2016 with the SEC.SunOpta (USA) makes up approximately 4.50% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp boosted its stake in STKL in the latest quarter, The investment management firm added 8,374 additional shares and now holds a total of 8,683 shares of SunOpta (USA) which is valued at $56,613.Simplex Trading reduced its stake in STKL by selling 3,108 shares or 61.07% in the most recent quarter. The Hedge Fund company now holds 1,981 shares of STKL which is valued at $12,896.

SunOpta (USA) opened for trading at $6.62 and hit $6.78 on the upside on Tuesday, eventually ending the session at $6.695, with a gain of 2.68% or 0.175 points. The heightened volatility saw the trading volume jump to 7,50,443 shares. Company has a market cap of $573 M.

On the company’s financial health, SunOpta (USA) reported $0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 10, 2016. Analyst had a consensus of $0.07. The company had revenue of $348.10 million for the quarter, compared to analysts expectations of $361.55 million. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on SunOpta (USA). Wunderlich Initiated SunOpta (USA) on Oct 11, 2016 to “Buy”, Price Target of the shares are set at $10.Company shares were Reiterated by DA Davidson on Aug 11, 2016 to “Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .

SunOpta Inc. is a global company operating businesses focused on healthy products portfolio. The Company specializes in sourcing processing and packaging of natural organic and specialty food products. It operates in three segments: Global Ingredients Consumer Products and Opta Minerals. It sources organic and non-genetically modified (non-GMO) crops from growers and suppliers. The Global Ingredients segment aggregates its North American-based Raw Material Sourcing and Supply and European-based International Sourcing and Supply operating segments. The Consumer Products segment manufactures and supplies branded and private label aseptic beverages; re-sealable pouch products; individually quick frozen (IQF) fruits and vegetables; fruit bases and toppings; juices; shelf stable juices and waters and fruit- and grain-based snacks. The Opta Minerals segment processes distributes and recycles industrial minerals; silica-free abrasives and specialty sands.

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