Thornburg Investment Management Inc. Reduces Position in SunOpta, Inc. (NASDAQ:STKL)

Key Points

• Thornburg Investment Management Inc. has reduced its stake in SunOpta, Inc. by 7.2% by selling 150,530 shares, now holding approximately 1.63% of the company valued at about $9.49 million.
• The company's recent earnings report showed a profit of $0.04 per share, exceeding analysts' expectations of $0.02, with total revenue of $201.63 million for the quarter.
• Insider activities include CEO Brian W. Kocher purchasing 10,000 shares of the company's stock for $57,200, which represents a significant increase in his ownership.

Thornburg Investment Management Inc. reduced its holdings in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,951,789 shares of the company's stock after selling 150,530 shares during the quarter. Thornburg Investment Management Inc. owned about 1.63% of SunOpta worth $9,486,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of STKL. XTX Topco Ltd increased its stake in SunOpta by 3.3% in the 1st quarter. XTX Topco Ltd now owns 72,636 shares of the company's stock valued at $353,000 after purchasing an additional 2,354 shares in the last quarter. Mackenzie Financial Corp increased its stake in SunOpta by 20.6% in the 1st quarter. Mackenzie Financial Corp now owns 337,523 shares of the company's stock valued at $1,637,000 after purchasing an additional 57,688 shares in the last quarter. Heartland Advisors Inc. increased its stake in SunOpta by 40.0% in the 1st quarter. Heartland Advisors Inc. now owns 700,000 shares of the company's stock valued at $3,402,000 after purchasing an additional 200,000 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in SunOpta by 11.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 670,399 shares of the company's stock valued at $3,258,000 after purchasing an additional 71,256 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in SunOpta by 12.2% in the 1st quarter. Cetera Investment Advisers now owns 90,697 shares of the company's stock valued at $441,000 after purchasing an additional 9,865 shares in the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.

SunOpta Price Performance

NASDAQ STKL traded down $0.13 during mid-day trading on Friday, hitting $5.70. The stock had a trading volume of 1,374,280 shares, compared to its average volume of 855,474. SunOpta, Inc. has a 52-week low of $3.64 and a 52-week high of $8.11. The company has a market cap of $669.99 million, a price-to-earnings ratio of -43.85 and a beta of 1.33. The company has a 50 day simple moving average of $6.08 and a 200 day simple moving average of $5.89. The company has a quick ratio of 0.43, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $201.63 million during the quarter, compared to the consensus estimate of $195.09 million. Equities analysts forecast that SunOpta, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian W. Kocher purchased 10,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was bought at an average price of $5.72 per share, with a total value of $57,200.00. Following the completion of the transaction, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $57,200. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

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.