StockNews.com Initiates Coverage on Lifeway Foods (NASDAQ:LWAY)

Analysts at StockNews.com started coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a report issued on Thursday. The brokerage set a “hold” rating on the stock.

Separately, Noble Financial lowered Lifeway Foods from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th.

Lifeway Foods Stock Performance

LWAY opened at $23.56 on Thursday. The stock has a 50-day moving average of $24.82 and a 200-day moving average of $18.89. Lifeway Foods has a 52-week low of $9.93 and a 52-week high of $28.61. The company has a market cap of $348.45 million, a PE ratio of 26.18 and a beta of 1.05.

Lifeway Foods (NASDAQ:LWAY) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $46.50 million. During the same quarter last year, the firm posted $0.21 earnings per share. On average, research analysts predict that Lifeway Foods will post 0.99 earnings per share for the current year.

Insider Activity at Lifeway Foods

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $18.19, for a total transaction of $272,850.00. Following the completion of the transaction, the insider now owns 1,110,133 shares in the company, valued at $20,193,319.27. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lifeway Foods

A number of hedge funds have recently modified their holdings of the stock. Covestor Ltd bought a new stake in Lifeway Foods in the third quarter valued at $50,000. Rhumbline Advisers boosted its stake 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 valued at $62,000 after purchasing an additional 4,668 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Lifeway Foods by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after purchasing an additional 1,155 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Lifeway Foods during the 2nd quarter worth about $82,000. Finally, Barclays PLC lifted its holdings in Lifeway Foods by 40.5% during the 3rd quarter. Barclays PLC now owns 6,420 shares of the company’s stock valued at $167,000 after purchasing an additional 1,849 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Lifeway Foods Company 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.