Lifeway Foods (NASDAQ:LWAY) Now Covered by Analysts at Benchmark

Benchmark began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report sent to investors on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $35.00 price objective on the stock.

A number of other research analysts have also recently commented on LWAY. Lake Street Capital raised their target price on Lifeway Foods from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Wall Street Zen raised Lifeway Foods from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lifeway Foods in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Lifeway Foods Stock Up 1.6%

Shares of Lifeway Foods stock traded up $0.36 during trading on Thursday, hitting $22.27. 114,567 shares of the stock traded hands, compared to its average volume of 74,025. The stock has a market cap of $339.15 million, a price-to-earnings ratio of 32.28 and a beta of 0.41. The firm’s fifty day moving average is $26.86 and its 200-day moving average is $26.13. Lifeway Foods has a 52 week low of $19.50 and a 52 week high of $34.20.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.The business had revenue of $57.14 million during the quarter, compared to the consensus estimate of $55.00 million.

Insider Transactions at Lifeway Foods

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $26.44, for a total value of $264,400.00. Following the completion of the sale, the insider directly owned 832,823 shares of the company’s stock, valued at $22,019,840.12. The trade was a 1.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Edward Smolyansky sold 83,643 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total value of $2,167,190.13. Following the transaction, the insider directly owned 1,151,642 shares in the company, valued at $29,839,044.22. The trade was a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock valued at $2,998,741 in the last quarter. 18.86% of the stock is currently owned by company insiders.

Institutional Trading of Lifeway Foods

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC boosted its position in shares of Lifeway Foods by 667.2% in the 3rd quarter. Lazard Asset Management LLC now owns 26,989 shares of the company’s stock worth $749,000 after purchasing an additional 23,471 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Lifeway Foods by 260.4% during the 3rd quarter. Two Sigma Investments LP now owns 101,311 shares of the company’s stock valued at $2,812,000 after buying an additional 73,203 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Lifeway Foods during the 3rd quarter valued at approximately $443,000. Slotnik Capital LLC boosted its stake in shares of Lifeway Foods by 9.2% during the 3rd quarter. Slotnik Capital LLC now owns 141,761 shares of the company’s stock worth $3,935,000 after acquiring an additional 11,921 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Lifeway Foods by 821.8% in the third quarter. BNP Paribas Financial Markets now owns 14,297 shares of the company’s stock valued at $397,000 after purchasing an additional 12,746 shares during the period. 36.39% of the stock is 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.