Lifeway Foods (NASDAQ:LWAY – Get Free Report) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.
Separately, Noble Financial cut shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Monday, November 27th.
Lifeway Foods Price Performance
Shares of NASDAQ LWAY traded down $0.41 during trading on Wednesday, reaching $12.46. The company had a trading volume of 74,583 shares, compared to its average volume of 59,240. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.68 and a current ratio of 2.25. The stock has a market cap of $183.04 million, a PE ratio of 22.65 and a beta of 1.57. The business’s 50 day moving average price is $12.83 and its 200-day moving average price is $10.02. Lifeway Foods has a 52 week low of $5.26 and a 52 week high of $17.33.
Lifeway Foods (NASDAQ:LWAY – Get Free Report) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $40.90 million for the quarter, compared to the consensus estimate of $39.50 million. Lifeway Foods had a return on equity of 15.87% and a net margin of 5.27%. Analysts expect that Lifeway Foods will post 0.7 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Julie Smolyansky sold 7,568 shares of Lifeway Foods stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $14.01, for a total transaction of $106,027.68. Following the completion of the transaction, the chief executive officer now directly owns 2,149,513 shares in the company, valued at approximately $30,114,677.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 10,226 shares of company stock valued at $143,692. 31.77% of the stock is currently owned by corporate insiders.
Institutional Trading of Lifeway Foods
Hedge funds have recently added to or reduced their stakes in the company. Kanen Wealth Management LLC raised its holdings in Lifeway Foods by 107.9% in the 2nd quarter. Kanen Wealth Management LLC now owns 620,973 shares of the company’s stock valued at $4,085,000 after acquiring an additional 322,260 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Lifeway Foods by 2.2% in the first quarter. Renaissance Technologies LLC now owns 383,982 shares of the company’s stock valued at $2,319,000 after purchasing an additional 8,200 shares during the period. Dimensional Fund Advisors LP increased its position in Lifeway Foods by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 268,069 shares of the company’s stock valued at $1,804,000 after purchasing an additional 1,534 shares during the period. Vanguard Group Inc. raised its stake in Lifeway Foods by 22.8% during the first quarter. Vanguard Group Inc. now owns 178,117 shares of the company’s stock worth $1,286,000 after buying an additional 33,079 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Lifeway Foods in the 3rd quarter valued at about $1,353,000. 30.74% of the stock is owned by institutional investors and hedge funds.
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 also 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.