Mackenzie Financial Corp Makes New $1.38 Million Investment in SunOpta Inc. (NASDAQ:STKL)

Mackenzie Financial Corp bought a new position in shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 251,880 shares of the company’s stock, valued at approximately $1,375,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in SunOpta by 67.4% during the third quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock worth $26,000 after purchasing an additional 3,085 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of SunOpta by 50.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,189 shares of the company’s stock valued at $34,000 after acquiring an additional 3,439 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of SunOpta in the 3rd quarter valued at $37,000. Realta Investment Advisors bought a new position in shares of SunOpta in the 4th quarter valued at $66,000. Finally, Tealwood Asset Management Inc. bought a new position in shares of SunOpta in the 4th quarter valued at $68,000. 85.39% of the stock is currently owned by institutional investors.

SunOpta Price Performance

Shares of NASDAQ:STKL opened at $6.68 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 1.48. SunOpta Inc. has a 12-month low of $2.79 and a 12-month high of $8.56. The business has a fifty day simple moving average of $6.46 and a 200 day simple moving average of $5.49.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business had revenue of $181.62 million during the quarter, compared to analyst estimates of $165.10 million. On average, equities research analysts predict that SunOpta Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on STKL shares. DA Davidson increased their price target on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. BMO Capital Markets increased their price target on SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group increased their price target on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Insiders Place Their Bets

In other SunOpta news, CEO Brian W. Kocher purchased 36,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the acquisition, the chief executive officer now owns 36,000 shares in the company, valued at approximately $243,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other SunOpta news, CEO Brian W. Kocher purchased 36,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the acquisition, the chief executive officer now owns 36,000 shares in the company, valued at approximately $243,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Ennen sold 150,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $6.89, for a total value of $1,033,500.00. Following the sale, the insider now owns 1,743,399 shares of the company’s stock, valued at $12,012,019.11. The disclosure for this sale can be found here. Company insiders own 6.48% of the company’s stock.

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.