60,946 Shares in Lifeway Foods, Inc. $LWAY Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co Investment Advisers Inc. has purchased a new stake in Lifeway Foods, acquiring 60,946 shares valued at approximately $1.49 million.
• Shares of Lifeway Foods are currently trading down by 4.3%, with a market cap of $462.38 million and a P/E ratio of 44.00.
• Analysts have upgraded Lifeway Foods' stock rating from a "hold" to a "buy," with a consensus price target of $29.00.

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 60,946 shares of the company's stock, valued at approximately $1,490,000. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.40% of Lifeway Foods as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers grew its stake in shares of Lifeway Foods by 8.2% during the first quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock worth $148,000 after purchasing an additional 462 shares during the period. Algert Global LLC raised its holdings in Lifeway Foods by 8.1% during the fourth quarter. Algert Global LLC now owns 9,076 shares of the company's stock worth $225,000 after acquiring an additional 680 shares in the last quarter. Barclays PLC raised its holdings in Lifeway Foods by 11.0% during the fourth quarter. Barclays PLC now owns 7,127 shares of the company's stock worth $176,000 after acquiring an additional 707 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Lifeway Foods by 33.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company's stock worth $71,000 after acquiring an additional 718 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Lifeway Foods by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company's stock valued at $1,403,000 after buying an additional 1,562 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lifeway Foods

In other news, Director Jason Scott Scher sold 16,366 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $24.24, for a total value of $396,711.84. Following the completion of the sale, the director directly owned 1 shares in the company, valued at $24.24. This trade represents a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 18.86% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on LWAY. Lake Street Capital upped their price objective 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 upgraded Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Lifeway Foods has a consensus rating of "Moderate Buy" and an average price target of $29.00.

Lifeway Foods Stock Down 1.5%

Shares of LWAY stock traded down $0.45 during trading hours on Friday, reaching $30.47. The company's stock had a trading volume of 37,520 shares, compared to its average volume of 84,116. The firm's 50 day simple moving average is $26.93 and its 200-day simple moving average is $24.41. The company has a market capitalization of $463.97 million, a price-to-earnings ratio of 44.16 and a beta of 0.69. Lifeway Foods, Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $32.19.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last issued 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. The firm had revenue of $53.90 million for the quarter, compared to the consensus estimate of $54.00 million. Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.

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.