Mackenzie Financial Corp Buys 57,688 Shares of SunOpta, Inc. (NASDAQ:STKL)

Key Points

• Mackenzie Financial Corp increased its stake in SunOpta, Inc. by 20.6%, owning 337,523 shares valued at approximately $1.64 million as of the latest SEC filing.
• Other institutional investors have also ramped up their investments in SunOpta, with Wealth Enhancement Advisory Services LLC boosting its position by 120.6% in the first quarter.
• SunOpta reported earnings of $0.04 per share for the last quarter, outperforming expectations and generating revenue of $201.63 million, above the anticipated $195.09 million.

Mackenzie Financial Corp raised its holdings in shares of SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 20.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,523 shares of the company's stock after purchasing an additional 57,688 shares during the quarter. Mackenzie Financial Corp owned 0.28% of SunOpta worth $1,637,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in SunOpta by 120.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 84,266 shares of the company's stock worth $410,000 after buying an additional 46,068 shares during the period. Peregrine Capital Management LLC grew its stake in SunOpta by 30.7% in the 1st quarter. Peregrine Capital Management LLC now owns 1,084,518 shares of the company's stock worth $5,271,000 after acquiring an additional 254,800 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of SunOpta during the fourth quarter worth approximately $326,000. Cetera Investment Advisers increased its position in shares of SunOpta by 276.9% during the fourth quarter. Cetera Investment Advisers now owns 80,832 shares of the company's stock worth $622,000 after acquiring an additional 59,384 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of SunOpta by 5.1% during the first quarter. Rhumbline Advisers now owns 147,519 shares of the company's stock valued at $717,000 after acquiring an additional 7,209 shares in the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.

SunOpta Trading Up 4.9%

Shares of NASDAQ STKL traded up $0.30 during trading hours on Friday, reaching $6.29. The stock had a trading volume of 593,865 shares, compared to its average volume of 880,425. SunOpta, Inc. has a 52-week low of $3.64 and a 52-week high of $8.11. The firm has a market cap of $738.75 million, a price-to-earnings ratio of -104.92 and a beta of 1.32. The business's fifty day moving average price is $6.04 and its two-hundred day moving average price is $5.83. The company has a current ratio of 0.95, a quick ratio of 0.43 and a debt-to-equity ratio of 1.50.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last issued its earnings results on Wednesday, August 6th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 12.92% and a negative net margin of 0.66%. The business had revenue of $191.49 million during the quarter, compared to analyst estimates of $185.36 million. Analysts expect that SunOpta, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other SunOpta news, CEO Brian W. Kocher bought 10,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were bought at an average cost of $5.72 per share, for a total transaction of $57,200.00. Following the acquisition, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

SunOpta Company 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.