Lifeway Foods (NASDAQ:LWAY) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued on Wednesday. The firm set a “hold” rating on the stock.

Lifeway Foods Price Performance

Shares of NASDAQ:LWAY opened at $23.50 on Wednesday. The business’s 50-day moving average is $22.74 and its 200 day moving average is $23.67. Lifeway Foods has a 1 year low of $10.06 and a 1 year high of $28.61. The firm has a market capitalization of $357.27 million, a P/E ratio of 27.33 and a beta of 0.93.

Lifeway Foods (NASDAQ:LWAY) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.19). The company had revenue of $46.93 million during the quarter, compared to analysts’ expectations of $48.00 million. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

Insider Activity at Lifeway Foods

In other news, major shareholder Ludmila Smolyansky sold 17,948 shares of the company’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $23.92, for a total value of $429,316.16. Following the sale, the insider now directly owns 905,823 shares of the company’s stock, valued at $21,667,286.16. This represents a 1.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Edward Smolyansky sold 20,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $23.23, for a total transaction of $464,600.00. Following the completion of the sale, the insider now owns 1,251,642 shares in the company, valued at $29,075,643.66. The trade was a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,324 shares of company stock valued at $1,539,957 in the last ninety days. Company insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

Hedge funds have recently modified their holdings of the stock. State Street Corp lifted its holdings in Lifeway Foods by 28.9% in the third quarter. State Street Corp now owns 53,683 shares of the company’s stock valued at $1,391,000 after acquiring an additional 12,020 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lifeway Foods by 451.4% during the third quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company’s stock worth $274,000 after buying an additional 8,658 shares in the last quarter. Geode Capital Management LLC grew its position in Lifeway Foods by 1.8% during the third quarter. Geode Capital Management LLC now owns 115,971 shares of the company’s stock valued at $3,006,000 after buying an additional 2,018 shares during the period. Towerview LLC raised its position in shares of Lifeway Foods by 75.0% in the fourth quarter. Towerview LLC now owns 35,000 shares of the company’s stock worth $868,000 after acquiring an additional 15,000 shares during the period. Finally, Barclays PLC boosted its stake in shares of Lifeway Foods by 40.5% during the 3rd quarter. Barclays PLC now owns 6,420 shares of the company’s stock worth $167,000 after acquiring an additional 1,849 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.