EDEN PRAIRIE, MN—Robert Duchscher, Chief Information Officer of SunOpta Inc (TSX:SOY). (NASDAQ:STKL), recently sold 50,000 common shares of the company, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $7.3337, amounting to a total transaction value of $366,685. The shares were sold in multiple transactions, with prices ranging from $7.19 to $7.51. Following this sale, Duchscher holds 42,971 shares in the company.
In other recent news, SunOpta (NASDAQ:STKL) reported a robust third quarter in fiscal 2024, with revenue reaching $176 million, a 16% increase from the previous year. This growth was primarily driven by a 21% surge in volume, with the fruit snacks segment contributing significantly with a remarkable 42% growth. Adjusted gross margin saw a slight improvement, and the company remains focused on operational enhancements and customer growth.
Furthermore, SunOpta reaffirmed its fiscal 2024 revenue guidance of $710 to $730 million and anticipates continued growth. The company is investing in supply chain improvements, aiming to enhance margins and shareholder value. Despite a major customer removing surcharges on plant-based add-ons, which may affect the company's pricing dynamics, and increased internal costs due to training and process improvements, the management expressed confidence in operational improvements supporting volume growth into 2026 without significant capital expenditures.
These are the recent developments for SunOpta. The company reported a profit from continuing operations of $5.5 million, a turnaround from a loss in the same quarter last year, and has seen a year-to-date increase in overall production by 18%. Further details on the company's outlook for 2025 will be shared in the next quarter's earnings call.
InvestingPro Insights
SunOpta Inc. (NASDAQ:STKL) has been experiencing significant market momentum, as evidenced by the recent insider sale and the company's financial metrics. According to InvestingPro data, SunOpta's stock has shown impressive performance, with a 85.03% price total return over the past year and a 29.03% return over the last six months. This strong performance aligns with the timing of Robert Duchscher's decision to sell a portion of his shares.
The company's market capitalization stands at $859.66 million, reflecting its position in the market. SunOpta's revenue growth is noteworthy, with a 16.96% increase in the last twelve months as of Q3 2024, reaching $711.68 million. This growth trajectory is supported by an InvestingPro Tip indicating that net income is expected to grow this year, and analysts predict the company will be profitable this year.
Despite these positive indicators, investors should note that SunOpta suffers from weak gross profit margins, as highlighted by another InvestingPro Tip. The company's gross profit margin for the last twelve months as of Q3 2024 was 16.56%, which may be an area for potential improvement.
For those interested in a more comprehensive analysis, InvestingPro offers 14 additional tips for SunOpta, providing a deeper understanding of the company's financial health and market position.
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