Lifeway Foods (NASDAQ:LWAY) Major Shareholder Ludmila Smolyansky Sells 10,000 Shares

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Ludmila Smolyansky sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 832,823 shares of the company’s stock, valued at approximately $22,019,840.12. This represents a 1.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, October 7th, Ludmila Smolyansky sold 5,000 shares of Lifeway Foods stock. The shares were sold at an average price of $26.32, for a total value of $131,600.00.

Lifeway Foods Stock Down 0.5%

Shares of LWAY stock opened at $26.58 on Friday. Lifeway Foods, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $34.20. The stock has a market cap of $404.81 million, a P/E ratio of 38.52 and a beta of 0.46. The business has a fifty day simple moving average of $29.19 and a 200-day simple moving average of $25.86.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $53.90 million during the quarter, compared to analysts’ expectations of $54.00 million. Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Lake Street Capital lifted their price objective on Lifeway Foods from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Lifeway Foods in a report on Wednesday. Finally, Wall Street Zen upgraded Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.00.

Hedge Funds Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Lifeway Foods by 8.2% in the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after purchasing an additional 462 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Lifeway Foods by 6.8% in the 2nd quarter. First Trust Advisors LP now owns 17,178 shares of the company’s stock valued at $423,000 after purchasing an additional 1,091 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Lifeway Foods by 577.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,551 shares of the company’s stock valued at $38,000 after purchasing an additional 1,322 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Lifeway Foods by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company’s stock valued at $1,403,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Lifeway Foods during the 2nd quarter worth approximately $40,000. 36.39% 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 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.