Lifeway Foods (NASDAQ:LWAY) Major Shareholder Sells $448,491.30 in Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 22,313 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $20.10, for a total transaction of $448,491.30. Following the transaction, the insider owned 1,115,995 shares in the company, valued at $22,431,499.50. This represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Edward Smolyansky also recently made the following trade(s):

• On Thursday, March 19th, Edward Smolyansky sold 14,353 shares of Lifeway Foods stock. The stock was sold at an average price of $17.77, for a total transaction of $255,052.81.
• On Monday, March 16th, Edward Smolyansky sold 13,334 shares of Lifeway Foods stock. The stock was sold at an average price of $20.60, for a total transaction of $274,680.40.

Lifeway Foods Price Performance

Lifeway Foods stock opened at $17.80 on Friday. Lifeway Foods, Inc. has a one year low of $17.31 and a one year high of $34.20. The company’s fifty day moving average price is $21.55 and its two-hundred day moving average price is $24.16. The company has a market capitalization of $269.67 million, a price-to-earnings ratio of 19.78 and a beta of 0.13.

Lifeway Foods (NASDAQ:LWAY) last released its quarterly earnings results on Tuesday, March 17th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.13). The company had revenue of $55.36 million for the quarter, compared to the consensus estimate of $55.00 million. Lifeway Foods had a return on equity of 17.25% and a net margin of 6.52%.

Analysts Set New Price Targets

LWAY has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of Lifeway Foods in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Lifeway Foods in a research note on Monday, December 29th. Morgan Stanley set a $35.00 price objective on shares of Lifeway Foods in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of Lifeway Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Lifeway Foods currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Hedge Funds Weigh In On Lifeway Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Lifeway Foods in the 1st quarter valued at approximately $90,000. Rhumbline Advisers increased its position in shares of Lifeway Foods by 8.2% during the first quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after purchasing an additional 462 shares during the period. Geode Capital Management LLC increased its position in shares of Lifeway Foods by 6.6% during the second quarter. Geode Capital Management LLC now owns 124,726 shares of the company’s stock valued at $3,075,000 after purchasing an additional 7,718 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Lifeway Foods by 293.6% in the second quarter. JPMorgan Chase & Co. now owns 13,472 shares of the company’s stock valued at $332,000 after purchasing an additional 10,049 shares in the last quarter. Finally, Carlson Capital L.P. acquired a new position in shares of Lifeway Foods in the second quarter valued at $246,000. 36.39% of the stock is currently owned by institutional investors.

Lifeway Foods Company Profile

Lifeway Foods, Inc (NASDAQ: LWAY) is a Chicago-based food company specializing in probiotic-rich cultured dairy products. Established in 1986 by Michael Smolyansky, the company pioneered the introduction of kefir to the U.S. market. Under the leadership of CEO Julie Smolyansky, who succeeded her father in 2002, Lifeway has grown from a single product operation into a diversified portfolio of fermented foods and beverages aimed at promoting digestive health and wellness.

The company’s flagship product is kefir, a cultured milk beverage naturally rich in probiotics, vitamins and minerals.