Skandinaviska Enskilda Banken AB publ Acquires Shares of 9,033 Lifeway Foods, Inc. (NASDAQ:LWAY)

Skandinaviska Enskilda Banken AB publ acquired a new stake in Lifeway Foods, Inc. (NASDAQ:LWAY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,033 shares of the company’s stock, valued at approximately $221,000. Skandinaviska Enskilda Banken AB publ owned 0.06% of Lifeway Foods at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Towerview LLC grew its holdings in Lifeway Foods by 107.1% in the first quarter. Towerview LLC now owns 72,500 shares of the company’s stock valued at $1,773,000 after purchasing an additional 37,500 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Lifeway Foods by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company’s stock valued at $1,403,000 after acquiring an additional 1,562 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Lifeway Foods by 8.2% in the first quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after acquiring an additional 462 shares in the last quarter. Sagefield Capital LP purchased a new position in shares of Lifeway Foods in the fourth quarter valued at approximately $211,000. Finally, Lazard Asset Management LLC lifted its position in shares of Lifeway Foods by 12.1% in the fourth quarter. Lazard Asset Management LLC now owns 14,826 shares of the company’s stock valued at $367,000 after acquiring an additional 1,605 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Pol Sikar sold 3,000 shares of Lifeway Foods stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $22.35, for a total transaction of $67,050.00. Following the transaction, the director owned 23,858 shares in the company, valued at approximately $533,226.30. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Julie Smolyansky sold 50,000 shares of Lifeway Foods stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $22.07, for a total value of $1,103,500.00. Following the transaction, the chief executive officer owned 2,132,483 shares in the company, valued at approximately $47,063,899.81. The trade was a 2.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,566 shares of company stock worth $1,788,672 over the last quarter. 18.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Lifeway Foods to a “hold” rating in a research report on Saturday, July 12th.

Lifeway Foods Price Performance

NASDAQ LWAY opened at $24.79 on Thursday. The company has a market cap of $376.81 million, a PE ratio of 37.56 and a beta of 0.75. The stock’s 50 day simple moving average is $24.55 and its 200-day simple moving average is $23.41. Lifeway Foods, Inc. has a 1-year low of $10.06 and a 1-year high of $27.29.

Lifeway Foods (NASDAQ:LWAY) last released its earnings results on Tuesday, May 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $46.09 million for the quarter, compared to the consensus estimate of $48.50 million. Lifeway Foods had a return on equity of 14.20% and a net margin of 5.39%.

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.