Zazove Associates LLC Buys 102,498 Shares of 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 increased its position in shares of 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 SEC. The institutional investor owned 340,447 shares of the company's stock after buying an additional 102,498 shares during the quarter. Zazove Associates LLC owned 0.29% of SunOpta worth $1,655,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in SunOpta in the first quarter valued at approximately $1,533,000. Blair William & Co. IL grew its stake in SunOpta by 1.3% in the first quarter. Blair William & Co. IL now owns 1,686,169 shares of the company's stock valued at $8,195,000 after purchasing an additional 21,925 shares in the last quarter. XTX Topco Ltd grew its stake in SunOpta by 3.3% in the first 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 grew its stake in SunOpta by 20.6% in the first 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. Finally, Heartland Advisors Inc. lifted its position in shares of SunOpta by 40.0% in the first quarter. Heartland Advisors Inc. now owns 700,000 shares of the company's stock valued at $3,402,000 after buying an additional 200,000 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.

SunOpta Stock Performance

Shares of STKL remained flat at $6.13 during mid-day trading on Friday. The stock had a trading volume of 641,009 shares, compared to its average volume of 1,037,278. SunOpta, Inc. has a 52 week low of $3.64 and a 52 week high of $8.11. The stock has a market cap of $720.52 million, a PE ratio of -102.17 and a beta of 1.32. The business's fifty day moving average price is $6.08 and its 200-day moving average price is $5.78. The company has a current ratio of 0.96, a quick ratio of 0.39 and a debt-to-equity ratio of 1.46.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $191.49 million during the quarter, compared to analysts' expectations of $185.36 million. Research analysts anticipate that SunOpta, Inc. will post 0.13 EPS for the current year.

Insider Activity

In other SunOpta news, CEO Brian W. Kocher acquired 10,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was bought at an average cost of $5.72 per share, with a total value of $57,200.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $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 hyperlink. 1.90% of the stock is currently owned by 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.