Lifeway Foods (NASDAQ:LWAY) Issues Earnings Results

Lifeway Foods (NASDAQ:LWAY) posted its quarterly earnings data on Wednesday. The company reported $0.23 earnings per share for the quarter, FiscalAI reports. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%. The company had revenue of $57.14 million during the quarter.

Lifeway Foods Stock Performance

Shares of Lifeway Foods stock traded down $0.59 during trading hours on Wednesday, reaching $22.75. The company’s stock had a trading volume of 102,918 shares, compared to its average volume of 72,885. Lifeway Foods has a one year low of $19.50 and a one year high of $34.20. The company’s 50 day simple moving average is $27.38 and its 200 day simple moving average is $26.19. The stock has a market cap of $346.38 million, a P/E ratio of 32.96 and a beta of 0.41.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LWAY. Wall Street Zen raised Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Lake Street Capital increased their target price on Lifeway Foods from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lifeway Foods in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Lifeway Foods has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 10,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $26.44, for a total value of $264,400.00. Following the sale, the insider directly owned 832,823 shares of the company’s stock, valued at $22,019,840.12. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Edward Smolyansky sold 83,643 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $25.91, for a total transaction of $2,167,190.13. Following the transaction, the insider directly owned 1,151,642 shares of the company’s stock, valued at approximately $29,839,044.22. This trade represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock worth $2,998,741 over the last quarter. Insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 1,322 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Lifeway Foods by 433.3% during the third quarter. New York State Common Retirement Fund now owns 1,600 shares of the company’s stock valued at $44,000 after buying an additional 1,300 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lifeway Foods during the second quarter valued at approximately $40,000. Central Pacific Bank Trust Division acquired a new position in shares of Lifeway Foods during the second quarter worth approximately $49,000. Finally, Byrne Asset Management LLC bought a new position in Lifeway Foods in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds 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.