Lifeway Foods, Inc. (NASDAQ:LWAY) Stock Position Reduced by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in Lifeway Foods, Inc. (NASDAQ:LWAY) by 83.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,593 shares of the company’s stock after selling 23,731 shares during the period. Bank of America Corp DE’s holdings in Lifeway Foods were worth $114,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Algert Global LLC increased its stake in shares of Lifeway Foods by 8.1% during the 4th quarter. Algert Global LLC now owns 9,076 shares of the company’s stock worth $225,000 after purchasing an additional 680 shares during the last quarter. Barclays PLC increased its stake in shares of Lifeway Foods by 11.0% during the 4th quarter. Barclays PLC now owns 7,127 shares of the company’s stock worth $176,000 after purchasing an additional 707 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Lifeway Foods by 33.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,855 shares of the company’s stock worth $71,000 after purchasing an additional 718 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lifeway Foods by 1.6% during the 4th quarter. Bank of New York Mellon Corp now owns 55,841 shares of the company’s stock worth $1,385,000 after purchasing an additional 868 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Lifeway Foods by 0.9% during the 4th quarter. Gamco Investors INC. ET AL now owns 120,350 shares of the company’s stock worth $2,985,000 after purchasing an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Lifeway Foods Trading Up 0.6%

NASDAQ:LWAY opened at $25.08 on Tuesday. Lifeway Foods, Inc. has a 1 year low of $10.06 and a 1 year high of $27.29. The firm’s fifty day simple moving average is $23.46 and its 200 day simple moving average is $23.13. The firm has a market capitalization of $381.29 million, a PE ratio of 29.16 and a beta of 0.74.

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

Insider Activity at Lifeway Foods

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 17,948 shares of the 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pol Sikar sold 3,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $22.35, for a total transaction of $67,050.00. Following the completion of the sale, the director now directly owns 23,858 shares of the company’s stock, valued at approximately $533,226.30. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,885 shares of company stock worth $2,282,496. 18.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Lifeway Foods Profile

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.