Lifeway Foods (NASDAQ:LWAY) Major Shareholder Sells $266,900.00 in Stock

Key Points

• Edward Smolyansky, a major shareholder of Lifeway Foods, sold 10,000 shares for approximately $266,900, reducing his ownership by 0.80%.
• The company's stock dropped 1.5% to $26.31, with a market cap of $400.70 million and average price target of $33.00 according to analysts.
• In recent trading, multiple institutional investors increased their stakes in Lifeway Foods, demonstrating continuing confidence in the company.

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) major shareholder Edward Smolyansky sold 10,000 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $26.69, for a total transaction of $266,900.00. Following the completion of the sale, the insider owned 1,235,285 shares in the company, valued at approximately $32,969,756.65. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Edward Smolyansky also recently made the following trade(s):

• On Tuesday, September 23rd, Edward Smolyansky sold 6,357 shares of Lifeway Foods stock. The stock was sold at an average price of $26.53, for a total transaction of $168,651.21.

Lifeway Foods Stock Down 1.5%

Shares of NASDAQ:LWAY traded down $0.41 during midday trading on Thursday, reaching $26.31. 94,694 shares of the company were exchanged, compared to its average volume of 66,220. Lifeway Foods, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $34.20. The stock has a fifty day simple moving average of $28.96 and a two-hundred day simple moving average of $25.52. The firm has a market cap of $400.70 million, a PE ratio of 38.13 and a beta of 0.46.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $54.00 million.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LWAY shares. Wall Street Zen upgraded shares of Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Lake Street Capital boosted their price objective on shares of Lifeway Foods from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Lifeway Foods currently has an average rating of "Buy" and an average price target of $33.00.

Hedge Funds Weigh In On Lifeway Foods

Several hedge funds and other institutional investors have recently made changes to their positions in LWAY. Northern Trust Corp raised its position 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 buying an additional 6,915 shares in the last quarter. Rhumbline Advisers raised its position in shares of Lifeway Foods by 8.2% in the 1st quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock valued at $148,000 after buying an additional 462 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Lifeway Foods by 2.8% in the 1st 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 in the last quarter. Towerview LLC raised its position 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 buying an additional 37,500 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Lifeway Foods in the 1st quarter valued at approximately $221,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

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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