Lifeway Foods (NASDAQ:LWAY) Reaches New 12-Month High - Here's What Happened

Key Points

• Lifeway Foods reached a new 52-week high of $34.00, with recent trading activity showing a last price of $33.50 on a volume of 60,429 shares.
• Analysts have upgraded the stock's rating, with Wall Street Zen changing it from "hold" to "buy", and Lake Street Capital raising their price target to $33.00.
• Lifeway Foods reported $0.28 earnings per share, beating estimates, and a revenue figure of $53.90 million, slightly below expectations.

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $34.00 and last traded at $33.50, with a volume of 60429 shares. The stock had previously closed at $33.72.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Lifeway Foods from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Lake Street Capital boosted their price target on shares of Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.00.

Lifeway Foods Stock Down 2.0%

The firm has a market capitalization of $401.38 million, a P/E ratio of 38.20 and a beta of 0.46. The firm's 50-day simple moving average is $28.84 and its 200-day simple moving average is $25.43.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.10. The firm 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 Transactions at Lifeway Foods

In other Lifeway Foods news, Director Jason Scott Scher sold 16,366 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.24, for a total transaction of $396,711.84. Following the transaction, the director directly owned 1 shares of the company's stock, valued at approximately $24.24. The trade was a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.86% of the company's stock.

Institutional Trading of Lifeway Foods

A number of hedge funds have recently modified their holdings of the business. TIG Advisors LLC grew its position in Lifeway Foods by 55.9% during the 1st quarter. TIG Advisors LLC now owns 220,817 shares of the company's stock valued at $5,399,000 after purchasing an additional 79,218 shares during the last quarter. Beryl Capital Management LLC grew its position in Lifeway Foods by 33.3% during the 1st quarter. Beryl Capital Management LLC now owns 193,888 shares of the company's stock valued at $4,741,000 after purchasing an additional 48,439 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Lifeway Foods by 4.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 149,550 shares of the company's stock valued at $3,686,000 after purchasing an additional 6,000 shares during the last quarter. Geode Capital Management LLC grew its position in Lifeway Foods by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 124,726 shares of the company's stock valued at $3,075,000 after purchasing an additional 7,718 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Lifeway Foods by 52.6% during the 2nd quarter. Gabelli Funds LLC now owns 98,644 shares of the company's stock valued at $2,432,000 after purchasing an additional 33,988 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

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.