Lifeway Foods (NASDAQ:LWAY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lifeway Foods (NASDAQ:LWAY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Separately, Lake Street Capital reissued a “buy” rating and set a $33.00 price target (up previously from $30.00) on shares of Lifeway Foods in a research report on Wednesday, August 13th.

Lifeway Foods Stock Performance

Shares of NASDAQ LWAY opened at $30.51 on Friday. Lifeway Foods has a fifty-two week low of $17.82 and a fifty-two week high of $31.00. The company has a 50 day simple moving average of $25.87 and a two-hundred day simple moving average of $23.90. The company has a market capitalization of $464.67 million, a price-to-earnings ratio of 44.22 and a beta of 0.69.

Lifeway Foods (NASDAQ:LWAY) last announced its earnings results on Tuesday, August 12th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%. The business had revenue of $53.90 million during the quarter, compared to the consensus estimate of $54.00 million.

Insider Buying and Selling at Lifeway Foods

In related news, Director Jason Scott Scher sold 16,366 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $24.24, for a total transaction of $396,711.84. Following the completion of the sale, the director owned 1 shares of the company’s stock, valued at $24.24. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 25,566 shares of company stock worth $618,122 over the last ninety days. 18.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lifeway Foods

Several institutional investors and hedge funds have recently made changes to their positions in LWAY. JPMorgan Chase & Co. boosted its holdings in Lifeway Foods by 712.8% in the fourth quarter. JPMorgan Chase & Co. now owns 85,959 shares of the company’s stock worth $2,132,000 after purchasing an additional 75,383 shares during the last quarter. Wells Fargo & Company MN grew its position in Lifeway Foods by 33.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,855 shares of the company’s stock worth $71,000 after purchasing an additional 718 shares during the period. Bank of Montreal Can bought a new stake in Lifeway Foods in the 4th quarter worth approximately $388,000. Barclays PLC grew its position in Lifeway Foods by 11.0% in the 4th quarter. Barclays PLC now owns 7,127 shares of the company’s stock worth $176,000 after purchasing an additional 707 shares during the period. Finally, Gabelli Funds LLC bought a new stake in Lifeway Foods in the 4th quarter worth approximately $403,000. Institutional investors own 36.39% of the company’s stock.

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.