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

Several other large investors have also recently bought and sold shares of STKL. American Century Companies Inc. increased its position in SunOpta by 145.4% in the 4th quarter. American Century Companies Inc. now owns 226,785 shares of the company's stock valued at $1,751,000 after acquiring an additional 134,368 shares during the period. Vanguard Group Inc. increased its position in SunOpta by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,207,838 shares of the company's stock valued at $17,002,000 after acquiring an additional 71,116 shares during the period. Alliancebernstein L.P. increased its position in SunOpta by 187.9% in the 4th quarter. Alliancebernstein L.P. now owns 367,740 shares of the company's stock valued at $2,832,000 after acquiring an additional 240,000 shares during the period. Franklin Resources Inc. increased its position in SunOpta by 1,015.0% in the 4th quarter. Franklin Resources Inc. now owns 587,749 shares of the company's stock valued at $4,526,000 after acquiring an additional 535,034 shares during the period. Finally, Geode Capital Management LLC increased its position in SunOpta by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,143,323 shares of the company's stock valued at $16,508,000 after acquiring an additional 15,433 shares during the period. Hedge funds and other institutional investors own 85.39% of the company's stock.

SunOpta Stock Performance

STKL traded down $0.02 during trading on Tuesday, reaching $5.48. The company's stock had a trading volume of 1,371,566 shares, compared to its average volume of 896,231. SunOpta, Inc. has a 52-week low of $3.64 and a 52-week high of $8.11. The company's fifty day moving average price is $6.07 and its 200-day moving average price is $5.85. The company has a market capitalization of $644.12 million, a price-to-earnings ratio of -42.15 and a beta of 1.32. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.43 and a current ratio of 0.95.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its quarterly earnings data on Wednesday, May 7th. 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 11.65% and a negative net margin of 1.90%. The company had revenue of $201.63 million for the quarter, compared to analyst estimates of $195.09 million. On average, equities analysts forecast that SunOpta, Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SunOpta news, CEO Brian W. Kocher acquired 10,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were bought at an average price of $5.72 per share, with a total value of $57,200.00. Following the acquisition, the chief executive officer owned 10,000 shares of the company's stock, valued at $57,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

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.