Heartland Advisors Inc. Purchases 200,000 Shares of SunOpta, Inc. (NASDAQ:STKL)

Key Points

• Heartland Advisors Inc. increased its stake in SunOpta, Inc. by 40%, now owning 700,000 shares valued at approximately $3.4 million.
• SunOpta reported a quarterly earnings of $0.04 per share, exceeding analyst expectations, with a revenue of $201.63 million for the same period.
• CEO Brian W. Kocher bought 10,000 shares of the company's stock, indicating confidence in its future performance.

Heartland Advisors Inc. increased its holdings in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 40.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 700,000 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.58% of SunOpta worth $3,402,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bayesian Capital Management LP grew its holdings in shares of SunOpta by 15.2% during the fourth quarter. Bayesian Capital Management LP now owns 11,536 shares of the company's stock valued at $89,000 after purchasing an additional 1,523 shares during the last quarter. Quadrant Capital Group LLC lifted its position in SunOpta by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company's stock worth $112,000 after purchasing an additional 1,923 shares during the period. EP Wealth Advisors LLC lifted its position in SunOpta by 18.7% in the fourth quarter. EP Wealth Advisors LLC now owns 14,730 shares of the company's stock worth $113,000 after purchasing an additional 2,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SunOpta by 4.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,055 shares of the company's stock valued at $701,000 after acquiring an additional 4,053 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of SunOpta during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 85.39% of the company's stock.

SunOpta Price Performance

Shares of NASDAQ:STKL traded up $0.05 on Wednesday, reaching $6.27. 401,719 shares of the company traded hands, compared to its average volume of 852,626. The company's 50 day moving average is $6.08 and its 200-day moving average is $5.91. The stock has a market capitalization of $736.40 million, a PE ratio of -48.19 and a beta of 1.43. SunOpta, Inc. has a fifty-two week low of $3.64 and a fifty-two week high of $8.11. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.43.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. SunOpta had a negative net margin of 1.90% and a positive return on equity of 11.65%. The business had revenue of $201.63 million for the quarter, compared to the consensus estimate of $195.09 million. As a group, analysts anticipate that SunOpta, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at SunOpta

In related news, CEO Brian W. Kocher purchased 10,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were acquired at an average cost of $5.72 per share, with a total value of $57,200.00. Following the completion of the purchase, the chief executive officer owned 10,000 shares of the company's stock, valued at $57,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.