Zazove Associates LLC Raises Stake in SunOpta Inc. (NASDAQ:STKL)

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

Other large investors also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in SunOpta by 932.9% in the 2nd quarter. Quarry LP now owns 4,142 shares of the company’s stock valued at $28,000 after buying an additional 3,741 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of SunOpta by 81.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock worth $26,000 after purchasing an additional 2,338 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of SunOpta by 89.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,487 shares of the company’s stock worth $43,000 after purchasing an additional 3,056 shares during the period. Citigroup Inc. grew its holdings in shares of SunOpta by 308.6% during the 1st quarter. Citigroup Inc. now owns 6,876 shares of the company’s stock worth $53,000 after purchasing an additional 5,193 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of SunOpta by 67.4% during the 3rd quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock worth $26,000 after purchasing an additional 3,085 shares during the period. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STKL has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. DA Davidson increased their price target on SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets increased their price target on SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.40.

Insider Activity

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

SunOpta Trading Down 2.6 %

STKL traded down $0.16 during mid-day trading on Wednesday, hitting $5.88. 494,124 shares of the stock were exchanged, compared to its average volume of 823,440. The firm’s fifty day moving average is $6.45 and its two-hundred day moving average is $5.38. SunOpta Inc. has a 1-year low of $2.79 and a 1-year high of $8.58. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48. The company has a market cap of $695.60 million, a PE ratio of -3.90 and a beta of 1.73.

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

SunOpta Profile

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.