Franklin Resources Inc. Purchases 535,034 Shares of SunOpta Inc. (NASDAQ:STKL)

Franklin Resources Inc. boosted its stake in shares of SunOpta Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 1,015.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 587,749 shares of the company's stock after purchasing an additional 535,034 shares during the period. Franklin Resources Inc. owned about 0.49% of SunOpta worth $4,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of SunOpta by 80.9% in the third quarter. Geode Capital Management LLC now owns 2,127,890 shares of the company's stock worth $13,579,000 after buying an additional 951,462 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in SunOpta by 65.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,761,922 shares of the company's stock valued at $13,567,000 after acquiring an additional 698,004 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of SunOpta by 250.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,869 shares of the company's stock valued at $4,848,000 after purchasing an additional 542,832 shares in the last quarter. State Street Corp raised its stake in shares of SunOpta by 18.9% in the 3rd quarter. State Street Corp now owns 1,827,273 shares of the company's stock valued at $11,658,000 after buying an additional 290,372 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in SunOpta by 187.9% during the fourth quarter. Alliancebernstein L.P. now owns 367,740 shares of the company's stock worth $2,832,000 after purchasing an additional 240,000 shares during the period. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SunOpta

In related news, SVP Bryan P. Clark sold 8,500 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.32, for a total value of $45,220.00. Following the completion of the sale, the senior vice president now directly owns 28,150 shares in the company, valued at $149,758. This represents a 23.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.48% of the stock is owned by company insiders.

SunOpta Stock Performance

STKL stock traded down $0.18 during mid-day trading on Wednesday, hitting $3.96. 148,413 shares of the company were exchanged, compared to its average volume of 757,892. SunOpta Inc. has a 1-year low of $3.65 and a 1-year high of $8.11. The stock has a market capitalization of $473.63 million, a PE ratio of -21.97 and a beta of 1.83. The business has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $6.65. The company has a current ratio of 1.20, a quick ratio of 0.53 and a debt-to-equity ratio of 1.61.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last issued its earnings results on Wednesday, February 26th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The firm had revenue of $193.91 million for the quarter, compared to the consensus estimate of $189.90 million. On average, equities analysts forecast that SunOpta Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on STKL. StockNews.com upgraded SunOpta from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Stephens reiterated an "overweight" rating and set a $10.00 target price on shares of SunOpta in a report on Thursday, January 2nd.

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.