Zazove Associates LLC Boosts Stock Holdings in SunOpta Inc. (NASDAQ:STKL)

Zazove Associates LLC raised its holdings in SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,034 shares of the company’s stock after purchasing an additional 112,011 shares during the period. Zazove Associates LLC owned 0.50% of SunOpta worth $3,249,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Quarry LP grew its stake in SunOpta by 932.9% in the 2nd quarter. Quarry LP now owns 4,142 shares of the company’s stock worth $28,000 after buying an additional 3,741 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of SunOpta by 81.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock worth $26,000 after acquiring an additional 2,338 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of SunOpta by 89.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,487 shares of the company’s stock worth $43,000 after acquiring an additional 3,056 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of SunOpta by 308.6% in the 1st quarter. Citigroup Inc. now owns 6,876 shares of the company’s stock worth $53,000 after acquiring an additional 5,193 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of SunOpta by 67.4% in the 3rd quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock worth $26,000 after acquiring an additional 3,085 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

SunOpta Trading Down 2.6 %

SunOpta stock traded down $0.16 during mid-day trading on Wednesday, reaching $5.88. 494,124 shares of the company traded hands, compared to its average volume of 823,440. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.19 and a quick ratio of 0.65. The firm’s 50 day moving average price is $6.45 and its 200 day moving average price is $5.38. The firm has a market capitalization of $695.60 million, a price-to-earnings ratio of -3.90 and a beta of 1.73. SunOpta Inc. has a 52-week low of $2.79 and a 52-week high of $8.58.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $181.62 million for the quarter, compared to the consensus estimate of $165.10 million. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. On average, analysts anticipate that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group upped their price target on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, DA Davidson upped their price target on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.40.

Insider Transactions at SunOpta

In other news, insider Joseph Ennen sold 150,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the sale, the insider now directly owns 1,743,399 shares of the company’s stock, valued at approximately $12,012,019.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Brian W. Kocher acquired 36,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $6.75 per share, with a total value of $243,000.00. Following the transaction, the chief executive officer now owns 36,000 shares of the company’s stock, valued at approximately $243,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Ennen sold 150,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the sale, the insider now directly owns 1,743,399 shares in the company, valued at $12,012,019.11. The disclosure for this sale can be found here. Insiders own 4.68% of the company’s stock.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.