Three Bays Capital Lp Exits Position in SunOpta (USA) (STKL)

SunOpta (USA) (STKL) : Three Bays Capital Lp has sold out all of its stake in SunOpta (USA) during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 1,500,000 shares of SunOpta (USA) which is valued at $10,035,000.

Other Hedge Funds, Including , Two Sigma Investments Lp sold out all of its stake in STKL during the most recent quarter. The investment firm sold 270,609 shares of STKL which is valued $1,810,374.Bard Associates Inc reduced its stake in STKL by selling 11,550 shares or 4.43% in the most recent quarter. The Hedge Fund company now holds 249,205 shares of STKL which is valued at $1,667,181. SunOpta (USA) makes up approx 0.83% of Bard Associates Inc’s portfolio.Blackrock Group Ltd boosted its stake in STKL in the latest quarter, The investment management firm added 199,294 additional shares and now holds a total of 388,345 shares of SunOpta (USA) which is valued at $2,598,028.Royce Associates Lp reduced its stake in STKL by selling 1,436,200 shares or 50.6% in the most recent quarter. The Hedge Fund company now holds 1,401,969 shares of STKL which is valued at $8,944,562. SunOpta (USA) makes up approx 0.06% of Royce Associates Lp’s portfolio.Financial Investment Management Group Ltd boosted its stake in STKL in the latest quarter, The investment management firm added 233,922 additional shares and now holds a total of 677,072 shares of SunOpta (USA) which is valued at $3,825,457. SunOpta (USA) makes up approx 1.09% of Financial Investment Management Group Ltd’s portfolio.

SunOpta (USA) closed down -0.21 points or -3.16% at $6.43 with 3,89,549 shares getting traded on Thursday. Post opening the session at $6.66, the shares hit an intraday low of $6.37 and an intraday high of $6.66 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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). 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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