Lifeway Foods, Inc. (NASDAQ:LWAY) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in Lifeway Foods, Inc. (NASDAQ:LWAY) by 60.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,230 shares of the company’s stock after selling 32,987 shares during the quarter. Millennium Management LLC owned approximately 0.14% of Lifeway Foods worth $527,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Lifeway Foods in the 4th quarter valued at $388,000. Beryl Capital Management LLC acquired a new position in shares of Lifeway Foods in the 4th quarter valued at $3,607,000. Wells Fargo & Company MN increased its holdings in shares of Lifeway Foods by 33.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,855 shares of the company’s stock valued at $71,000 after acquiring an additional 718 shares during the period. Towerview LLC increased its holdings in shares of Lifeway Foods by 75.0% in the 4th quarter. Towerview LLC now owns 35,000 shares of the company’s stock valued at $868,000 after acquiring an additional 15,000 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Lifeway Foods by 712.8% in the 4th quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company’s stock valued at $2,132,000 after acquiring an additional 75,383 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Lifeway Foods in a research note on Saturday, May 17th. They issued a “hold” rating on the stock.

Insider Buying and Selling at Lifeway Foods

In other Lifeway Foods news, major shareholder Edward Smolyansky sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $23.23, for a total transaction of $464,600.00. Following the sale, the insider now directly owns 1,251,642 shares in the company, valued at approximately $29,075,643.66. The trade was a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Smolyansky sold 50,000 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $22.07, for a total transaction of $1,103,500.00. Following the sale, the chief executive officer now owns 2,132,483 shares in the company, valued at $47,063,899.81. The trade was a 2.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,885 shares of company stock valued at $2,747,096. 18.86% of the stock is owned by company insiders.

Lifeway Foods Stock Performance

Shares of LWAY opened at $24.92 on Monday. The stock has a market capitalization of $378.86 million, a P/E ratio of 28.98 and a beta of 0.74. The company’s fifty day moving average is $23.33 and its two-hundred day moving average is $23.11. Lifeway Foods, Inc. has a 1 year low of $10.06 and a 1 year high of $27.29.

Lifeway Foods (NASDAQ:LWAY) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $46.09 million for the quarter, compared to analysts’ expectations of $48.50 million. Lifeway Foods had a net margin of 7.23% and a return on equity of 19.97%.

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.