Lifeway Foods' (LWAY) Buy Rating Reiterated at Lake Street Capital

Key Points

• Lifeway Foods (NASDAQ:LWAY) has had its price target increased from $30.00 to $33.00 by Lake Street Capital, indicating a potential upside of 7.26% from its previous close.
• The company reported a quarterly earnings per share (EPS) of $0.28, surpassing the consensus estimate of $0.18, alongside a revenue of $53.90 million.
• Insider trading activity revealed that Director Jason Scott Scher and CEO Julie Smolyansky recently sold significant shares, with Scher decreasing ownership by 99.99% after selling 16,366 shares.

Lifeway Foods (NASDAQ:LWAY - Get Free Report)'s stock had its "buy" rating restated by research analysts at Lake Street Capital in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $33.00 target price on the stock, up from their prior target price of $30.00. Lake Street Capital's price objective would suggest a potential upside of 12.65% from the company's previous close.

Separately, Wall Street Zen raised shares of Lifeway Foods to a "hold" rating in a research report on Saturday, July 12th.

Lifeway Foods Price Performance

LWAY traded down $0.70 on Wednesday, hitting $29.30. 10,510 shares of the stock were exchanged, compared to its average volume of 52,287. The firm has a market capitalization of $446.16 million, a price-to-earnings ratio of 42.46 and a beta of 0.69. Lifeway Foods has a 12 month low of $17.82 and a 12 month high of $31.00. The business has a 50-day moving average of $25.65 and a two-hundred day moving average of $23.80.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.49% and a return on equity of 14.32%.

Insider Buying and Selling

In related news, CEO Julie Smolyansky sold 50,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $22.07, for a total value of $1,103,500.00. Following the transaction, the chief executive officer directly owned 2,132,483 shares in the company, valued at $47,063,899.81. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pol Sikar sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $22.35, for a total value of $67,050.00. Following the transaction, the director owned 23,858 shares in the company, valued at approximately $533,226.30. This trade represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,566 shares of company stock worth $1,788,672 in the last ninety days. Corporate insiders own 18.86% of the company's stock.

Institutional Investors Weigh In On Lifeway Foods

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted 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 valued at $38,000 after acquiring an additional 1,322 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lifeway Foods during the 2nd quarter valued at about $40,000. Central Pacific Bank Trust Division bought a new stake in Lifeway Foods in the 2nd quarter worth approximately $49,000. Byrne Asset Management LLC bought a new stake in Lifeway Foods in the 2nd quarter worth approximately $53,000. Finally, Wells Fargo & Company MN lifted its position in Lifeway Foods by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company's stock valued at $71,000 after purchasing an additional 718 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

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.