Lifeway Foods, Inc. $LWAY Holdings Raised by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in Lifeway Foods, Inc. by 297.4%, owning 64,656 shares valued at approximately $1.58 million as of its latest SEC filing.
• Research analysts have upgraded Lifeway Foods to a "buy" rating, with a consensus target price of $29.00, indicating a favorable outlook for the stock.
• Lifeway Foods reported $0.28 earnings per share for the last quarter, exceeding expectations, though its revenue fell slightly short of analysts’ estimates at $53.90 million.

Gabelli Funds LLC grew its position in Lifeway Foods, Inc. (NASDAQ:LWAY - Free Report) by 297.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,656 shares of the company's stock after purchasing an additional 48,388 shares during the period. Gabelli Funds LLC owned approximately 0.43% of Lifeway Foods worth $1,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Beryl Capital Management LLC acquired a new position in shares of Lifeway Foods in the 4th quarter valued at about $3,607,000. Divisadero Street Capital Management LP acquired a new position in shares of Lifeway Foods in the 4th quarter valued at about $2,925,000. Towerview LLC lifted its stake in shares of Lifeway Foods by 107.1% in the 1st quarter. Towerview LLC now owns 72,500 shares of the company's stock valued at $1,773,000 after purchasing an additional 37,500 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Lifeway Foods by 13.5% in the 4th quarter. Northern Trust Corp now owns 58,039 shares of the company's stock valued at $1,439,000 after purchasing an additional 6,915 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Lifeway Foods by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company's stock worth $1,403,000 after acquiring an additional 1,562 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Lifeway Foods Trading Up 0.2%

LWAY stock traded up $0.07 during midday trading on Thursday, hitting $30.90. 82,064 shares of the company's stock were exchanged, compared to its average volume of 69,121. Lifeway Foods, Inc. has a 12-month low of $19.50 and a 12-month high of $32.19. The firm has a 50 day moving average price of $27.42 and a 200-day moving average price of $24.64. The stock has a market capitalization of $470.61 million, a price-to-earnings ratio of 44.78 and a beta of 0.46.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.The company had revenue of $53.90 million for the quarter, compared to the consensus estimate of $54.00 million.

Insider Transactions at Lifeway Foods

In other Lifeway Foods news, Director Jason Scott Scher sold 16,366 shares of Lifeway Foods stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.24, for a total transaction of $396,711.84. Following the sale, the director directly owned 1 shares in the company, valued at $24.24. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LWAY has been the topic of several recent research reports. Lake Street Capital boosted their price target on Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a research report 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

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.