Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) major shareholder S.A. Danone sold 3,454,756 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $19.50, for a total transaction of $67,367,742.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Lifeway Foods Stock Up 1.3%
NASDAQ:LWAY opened at $25.53 on Thursday. Lifeway Foods, Inc. has a fifty-two week low of $17.31 and a fifty-two week high of $34.20. The stock has a market capitalization of $390.10 million, a P/E ratio of 26.32 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.56 and a current ratio of 2.14. The company's 50-day simple moving average is $23.31 and its 200-day simple moving average is $22.96.
Lifeway Foods (NASDAQ:LWAY - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. Lifeway Foods had a net margin of 6.54% and a return on equity of 17.76%. The business had revenue of $63.01 million for the quarter, compared to analysts' expectations of $60.80 million.
Hedge Funds Weigh In On Lifeway Foods
Several hedge funds and other institutional investors have recently modified their holdings of LWAY. Larson Financial Group LLC purchased a new position in shares of Lifeway Foods in the 3rd quarter valued at approximately $31,000. BNP Paribas Financial Markets raised its position in 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 buying an additional 1,322 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Lifeway Foods during the 2nd quarter worth approximately $40,000. New York State Common Retirement Fund raised its position in Lifeway Foods by 433.3% during the 3rd quarter. New York State Common Retirement Fund now owns 1,600 shares of the company's stock worth $44,000 after buying an additional 1,300 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Lifeway Foods by 302.0% during the 4th quarter. State of Alaska Department of Revenue now owns 2,967 shares of the company's stock worth $71,000 after buying an additional 2,229 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LWAY has been the subject of several research analyst reports. Weiss Ratings raised shares of Lifeway Foods from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Lifeway Foods from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Lifeway Foods has a consensus rating of "Moderate Buy" and an average price target of $34.33.
Check Out Our Latest Research Report on LWAY
About Lifeway Foods
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Get Free Report)
Lifeway Foods, Inc (NASDAQ: LWAY) is a Chicago-based food company specializing in probiotic-rich cultured dairy products. Established in 1986 by Michael Smolyansky, the company pioneered the introduction of kefir to the U.S. market. Under the leadership of CEO Julie Smolyansky, who succeeded her father in 2002, Lifeway has grown from a single product operation into a diversified portfolio of fermented foods and beverages aimed at promoting digestive health and wellness.
The company's flagship product is kefir, a cultured milk beverage naturally rich in probiotics, vitamins and minerals.
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