Lifeway Foods' (LWAY) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Lifeway Foods' stock rating has been restated to "hold (C+)" by Weiss Ratings, while Wall Street Zen upgraded it to a "buy" rating.
• The company's recent quarterly earnings report showed an EPS of $0.28, surpassing the expected $0.18, although revenue fell slightly short of estimates at $53.90 million.
• Major shareholder Edward Smolyansky sold over 83,000 shares at about $25.91 each, reducing his stake by 6.77% while still holding 1.15 million shares valued at roughly $29.84 million.

Lifeway Foods (NASDAQ:LWAY - Get Free Report)'s stock had its "hold (c+)" rating restated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen upgraded Lifeway Foods from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Lake Street Capital increased 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. One research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Lifeway Foods Price Performance

Shares of Lifeway Foods stock opened at $26.72 on Wednesday. The business has a 50 day simple moving average of $29.16 and a two-hundred day simple moving average of $25.84. The stock has a market capitalization of $406.87 million, a P/E ratio of 38.73 and a beta of 0.46. Lifeway Foods has a 12 month low of $19.50 and a 12 month high of $34.20.

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

Insider Activity at Lifeway Foods

In other news, major shareholder Edward Smolyansky sold 83,643 shares of Lifeway Foods stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total transaction of $2,167,190.13. Following the sale, the insider owned 1,151,642 shares in the company, valued at approximately $29,839,044.22. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 100,000 shares of company stock worth $2,602,741 in the last 90 days. 18.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lifeway Foods

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its position in shares of Lifeway Foods by 577.3% during 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Lifeway Foods during the 2nd quarter worth approximately $40,000. Central Pacific Bank Trust Division acquired a new position in shares of Lifeway Foods during the 2nd quarter worth approximately $49,000. Byrne Asset Management LLC acquired a new position in shares of Lifeway Foods during the 2nd quarter worth approximately $53,000. Finally, Deutsche Bank AG acquired a new position in shares of Lifeway Foods during the 1st quarter worth approximately $78,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

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.

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