57,331 Shares in Lifeway Foods, Inc. $LWAY Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 57,331 Lifeway Foods shares worth approximately $1.71 million, giving it a 0.38% stake. Institutional investors and hedge funds collectively own 36.39% of the company.
• Lifeway Foods reported quarterly revenue of $66.89 million, exceeding estimates, but earnings per share of $0.01 fell well short of the $0.26 analyst consensus. The stock opened at $24.95, below its 50-day average of $28.73.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $34 average price target, although recent ratings ranged from “Strong Buy” to “Sell.” Insider activity was mixed, including a major shareholder’s sale of 111,548 shares and another shareholder’s purchase of 195,616 shares.

Bank of New York Mellon Corp bought a new stake in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,331 shares of the company's stock, valued at approximately $1,711,000. Bank of New York Mellon Corp owned about 0.38% of Lifeway Foods as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of Lifeway Foods during the third quarter worth $31,000. BNP Paribas Financial Markets boosted its position 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 worth $38,000 after purchasing an additional 1,322 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lifeway Foods in the 2nd quarter worth $40,000. Strs Ohio acquired a new stake in shares of Lifeway Foods in the 1st quarter worth $90,000. Finally, Bank of America Corp DE grew its stake in Lifeway Foods by 70.8% during the 2nd quarter. Bank of America Corp DE now owns 4,766 shares of the company's stock worth $117,000 after buying an additional 1,976 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Lifeway Foods Price Performance

NASDAQ LWAY opened at $24.95 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.09 and a quick ratio of 1.47. The stock's fifty day moving average price is $28.73 and its 200 day moving average price is $25.52. Lifeway Foods, Inc. has a 1 year low of $17.31 and a 1 year high of $34.20. The company has a market cap of $376.99 million, a price-to-earnings ratio of 35.64 and a beta of 0.44.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.25). The firm had revenue of $66.89 million for the quarter, compared to analyst estimates of $61.40 million. Lifeway Foods had a return on equity of 12.66% and a net margin of 4.48%.

Insider Transactions at Lifeway Foods

In related news, major shareholder Edward Smolyansky sold 111,548 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $29.26, for a total value of $3,263,894.48. Following the sale, the insider owned 902,642 shares in the company, valued at $26,411,304.92. This represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Divisadero Street Capital Mana purchased 195,616 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $24.87 per share, for a total transaction of $4,864,969.92. Following the acquisition, the insider owned 2,297,156 shares in the company, valued at $57,130,269.72. This trade represents a 9.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 248,568 shares of company stock worth $6,176,730 and sold 592,698 shares worth $17,070,367. Company insiders own 18.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LWAY. Freedom Capital raised Lifeway Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 14th. Wall Street Zen downgraded Lifeway Foods from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings lowered Lifeway Foods from a "buy (b-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Benchmark restated a "buy" rating on shares of Lifeway Foods in a report on Monday, June 15th. Finally, BTIG Research initiated coverage on shares of Lifeway Foods in a research report on Thursday, August 20th. They issued a "buy" rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $34.00.

Lifeway Foods Company Profile

Lifeway Foods, Inc NASDAQ: LWAY is a Chicago-based food company specializing in probiotic-rich cultured dairy products. Established in 1986 by Michael Smolyansky, the company pioneered the introduction of kefir to the U.S. market. Under the leadership of CEO Julie Smolyansky, who succeeded her father in 2002, Lifeway has grown from a single product operation into a diversified portfolio of fermented foods and beverages aimed at promoting digestive health and wellness.

The company's flagship product is kefir, a cultured milk beverage naturally rich in probiotics, vitamins and minerals.

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