at around $9.84/$9.85 very nice come back from these levels even as the market dives. Great sign the stock is finding support. Next stop is $10.79 before we fly pass 11 by year end.
Sentiment: Strong Buy
Here is more on big boys holding to their shares and adding in some cases. Happy Reading:
The second ranked holding of the Canadian fund is represented by SunOpta Inc. (USA)(NASDAQ:STKL), in which West Face Capital’s stake contains 4.37 million shares worth $46.5 million. The stake remained unchanged over the course of the first quarter. With a market cap of $706 million, SunOpta Inc. (USA)(NASDAQ:STKL) is a global company focused on natural, organic and specialty foods. For the first quarter of 2015, the company posted earnings of $5.2 million, or $0.08 per diluted common share, versus earnings of $6.6 million, or $0.10 per diluted common share in the same quarter last year, while its revenues decreased by 5.9% to $303.4 million. On the insider trading front, director Jeremy Kendall recently unloaded 50,000 SunOpta shares at an average price of $12.72. Following the sale, Kendall still owns 424,164 shares of the company. Another investor that sees value in SunOpta Inc. (USA)(NASDAQ:STKL) is Mariko Gordon’s Daruma Asset Management, which holds 5.03 million shares as of March 31.
Read more at http://www.insidermonkey.com/blog/activist-west-face-capital-makes-move-on-gran-tierra-energy-inc-gte-plus-the-funds-top-picks-352748/?singlepage=1#1uOhMFBUR0vecVU5.99
I did nee that. I was long this stock for about 2 years from the high 8s and sold it for a small profit, having given back a good bit after they missed their second ER in a row. Management - for which there are in my opinion too many at the top level - is not that great in that they constantly fail to hit their own targets. As I said, I love their niche business that they are in, especially on the non-GMO processing side of things and their aseptic packaging. As far as their branded retail products go, that is one of their weak links, along with their overall cost structure and margins. If they miss their top/bottom numbers on the next report, it is likely to really get nailed hard again, and you could easily see another leg down 15-30% in my opinion, at which point I might pick it back up. The chary looks horrible from a technical point of view.
Thanks for the info regarding Wellington. I had never seen that site before. Any info on downgrade by Citi would be appreciated. Thanks
You need to do your homework my friend. Google this "Why Wellington Management Group Llp Just Disclosed Huge New Sunopta Inc Stake
And by the way it was not the conference that hit the stock it was the downgrade from CITI and an insider sale. But the long term story is solid. Wellington knows something I and you don't know. They manage billions of $$ in stocks and funds. Waiting for $7 is like waiting for snow in the desert. Aint gonna happen. The lowest this could go is $9 if things get worse. Just selling their mineral business will lower their debt by $75 million. The worst scenario Wellington could force management to sell the company.
The one year chart on this stock looks like #$%$, and could get a lot worse if they miss their numbers on yet another Q; that would make it three in a row. I love the space this company is in, but management has been fairly poor in my opinion. This could easily follow - and frankly it basically has so some extent - the path of BDBD. I am not a buyer at these levels and would look to enter sub $7
From seeing a 3% drop today when other speciality food stocks such as Whitewave and Hain went up, I can only assume that the presentation today went poorly.
Anyone have any info.
Well someone doesn't care for the quarter this morning!
Or is it due to the Board issuing themselves 8,929 shares each, (7) so far, vested shares. See attached Form 4.
The company LOGO should be "OOPs-We did it Again".
"I don't expect the market to have a strong reaction tomorrow"
There was a tad of volatility early in the day and now shares are trading in a level line...with a whopping 64K shares having been traded.
Time to go back to sleep until next Q, unless something "unusual" occurs.
I'm not keen on SunOpta management adjusting for "product rationalizations" but at a minimum it is fair to adjust for the 2014 Q1 being 14 weeks vs. 13 weeks. With this adjustment alone, and not worrying about FX and commodity prices, weekly revenue for the quarter is slightly higher than in 2014. Earnings, even after adjusting for the number of weeks is lower due to the weaker performance at Opta Minerals. Not a great quarter, but expectations have been getting lower as evidenced by the sad stock performance over the past year. I don't expect the market to have a strong reaction tomorrow. There's always the promise of 2016 (with SunOpta, the rainbow is generally just around the corner) when the Allentown expansion is in place and the premium juice facility retrofit costs are behind the company. With the continuing secular trend towards organic and healthy foods, you would really hope that SunOpta could demonstrate higher growth and more consistent improvement in earnings.
Hey Wooglin - at least SunOpta filed its 10k on time, unlike another company in what I'll call the healthy food area.
SunOpta is already down 30% from the recent highs. A meet is a welcome change from historic earnings. Last year had an extra week in the quarter. This is a good quarter and they should continue to get better given the ongoing growth and company trajectory.
Yup, and STKL's share price moved up from 3/31 close @ 10.62 to 11.40 at 4/15.
Short interest has since trickled up a bit to 1,860,969 shares A/O 4/30; on that day, STKL closed at 10.34 and it's lower now!
I would bet the US dollar stays around this range as oil prices slip again over the long-term. With the global sourcing platform and much lower debt load, I think we are going to see better performance than other issues. We should be saving a pretty penny on lower debt now.
Between produce, almonds and manufacturing facilities, this could be a very challenging year for SunOpta. I would venture to say we are not out of the woods yet.