Lifeway Foods (NASDAQ:LWAY) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Lifeway Foods (NASDAQ:LWAY) from a buy rating to a hold rating in a report published on Sunday.

A number of other research firms have also recently commented on LWAY. Noble Financial raised their target price on Lifeway Foods from $20.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, September 3rd. Lake Street Capital boosted their target price on shares of Lifeway Foods from $25.00 to $28.00 and gave the company a buy rating in a report on Wednesday, May 15th.

Lifeway Foods Trading Up 3.3 %

Shares of Lifeway Foods stock opened at $21.27 on Friday. The company’s fifty day simple moving average is $15.02 and its two-hundred day simple moving average is $16.06. Lifeway Foods has a 12-month low of $9.06 and a 12-month high of $28.61. The company has a market cap of $312.82 million, a P/E ratio of 24.63 and a beta of 1.02.

Lifeway Foods (NASDAQ:LWAY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Lifeway Foods had a net margin of 7.69% and a return on equity of 21.92%. The company had revenue of $49.16 million for the quarter, compared to analysts’ expectations of $46.50 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. Analysts predict that Lifeway Foods will post 0.99 EPS for the current fiscal year.

Insider Transactions at Lifeway Foods

In other Lifeway Foods news, VP Amy M. Feldman sold 12,948 shares of Lifeway Foods stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.57, for a total transaction of $240,444.36. Following the completion of the transaction, the vice president now owns 18,104 shares in the company, valued at $336,191.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 4,584 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.55, for a total transaction of $89,617.20. Following the completion of the sale, the insider now directly owns 1,085,549 shares in the company, valued at approximately $21,222,482.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Amy M. Feldman sold 12,948 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.57, for a total transaction of $240,444.36. Following the completion of the transaction, the vice president now owns 18,104 shares in the company, valued at approximately $336,191.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,698 shares of company stock valued at $887,612 in the last ninety days. 31.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

A number of hedge funds have recently added to or reduced their stakes in LWAY. Rhumbline Advisers increased its holdings in shares of Lifeway Foods by 2,334.0% in the 2nd quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after purchasing an additional 4,668 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Lifeway Foods during the second quarter valued at $82,000. Bailard Inc. bought a new stake in Lifeway Foods in the 2nd quarter worth about $253,000. Panagora Asset Management Inc. purchased a new position in Lifeway Foods in the 2nd quarter worth about $267,000. Finally, Jump Financial LLC bought a new position in Lifeway Foods during the 4th quarter valued at about $303,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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.