Zazove Associates LLC Grows Stock Holdings in SunOpta, Inc. (NASDAQ:STKL)

Key Points

• Zazove Associates LLC increased its stake in SunOpta, Inc. by 43.1% in Q1, now owning approximately 0.29% of the company, valued at $1,655,000.
• SunOpta's stock saw a 2.1% increase and reported quarterly earnings with an EPS of $0.04, surpassing analysts' expectations of $0.02.
• Insider transactions included CEO Brian W. Kocher purchasing 10,000 shares at $5.72 each, highlighting internal confidence in the company's prospects.

Zazove Associates LLC lifted its stake in SunOpta, Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 43.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,447 shares of the company's stock after purchasing an additional 102,498 shares during the period. Zazove Associates LLC owned about 0.29% of SunOpta worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in SunOpta by 120.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 84,266 shares of the company's stock valued at $410,000 after buying an additional 46,068 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of SunOpta by 30.7% during the first quarter. Peregrine Capital Management LLC now owns 1,084,518 shares of the company's stock worth $5,271,000 after purchasing an additional 254,800 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of SunOpta during the fourth quarter worth about $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 purchasing an additional 59,384 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of SunOpta by 5.1% during the first quarter. Rhumbline Advisers now owns 147,519 shares of the company's stock worth $717,000 after purchasing an additional 7,209 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

SunOpta Stock Performance

Shares of STKL traded down $0.17 during midday trading on Thursday, reaching $6.13. 716,687 shares of the stock were exchanged, compared to its average volume of 1,035,278. The business's 50-day moving average price is $6.07 and its 200 day moving average price is $5.80. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.96 and a quick ratio of 0.39. SunOpta, Inc. has a twelve month low of $3.64 and a twelve month high of $8.11. The company has a market capitalization of $720.53 million, a price-to-earnings ratio of -102.17 and a beta of 1.32.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last posted its earnings results on Wednesday, August 6th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 12.82% and a negative net margin of 0.66%. The business had revenue of $191.49 million for the quarter, compared to analysts' expectations of $185.36 million. On average, sell-side analysts expect that SunOpta, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at SunOpta

In related news, CEO Brian W. Kocher purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were purchased at an average price of $5.72 per share, with a total value of $57,200.00. Following the completion of the acquisition, the chief executive officer directly owned 10,000 shares in the company, valued at $57,200. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company's stock.

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.