Engaged Capital’s stake in Sunopta Inc. (NASDAQ:STKL) has gone up according to a recent 13D filing with the US Securities and Exchange Commission. Glen W. Welling’s fund held 52,593 shares at the end of the second quarter and has recently boosted the position to 6.43 million shares or 7.5% of Sunopta’s outstanding stock. The filing also revealed that on September 14, the fund and the company have signed a confidentiality agreement to ease the ongoing negotiations between them concerning the company’s strategic review process.
Sunopta is a health food company that produces healthy organic food, running in two sectors: Consumer Products and Global Ingredients. Over the past 12 months, the company’s shares have lost 10.74%. For the second quarter of 2016, Sunopta disclosed a loss per share of $0.05 and revenue of $348.15 million, compared to EPS of $0.07 and revenue of $277.59 million for the corresponding quarter in 2015. Recently, Citigroup Inc. boosted its price target on Sunopta’s stock to $8 from $5.50.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Engaged Capital Flagship Master Fund||2,896,833||2,896,833||2,896,833||3.4%|
|Engaged Capital Co-Invest IV||3,191,639||3,191,639||3,191,639||3.7%|
|Engaged Capital Flagship Fund||2,896,833||2,896,833||2,896,833||3.4%|
|Engaged Capital Flagship Fund, Ltd||2,896,833||2,896,833||2,896,833||3.4%|
|Engaged Capital Holdings||6,426,435||6,426,435||6,426,435||7.5%|
|Glenn W. Welling||6,426,435||6,426,435||6,426,435||7.5%|
Page 1 of 17 – SEC Filing
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