Key Points
- Edward Smolyansky, Lifeway Foods’ major shareholder, sold 38,452 shares on June 24 at an average price of $29.85, bringing in about $1.15 million and trimming his stake by 3.65%.
- The sale follows multiple recent insider transactions by Smolyansky, including 50,000 shares sold on June 22 and additional sales in mid-May.
- Lifeway Foods reported solid quarterly results, posting EPS of $0.30 in line with estimates and revenue of $63.01 million, while analysts currently rate the stock a Moderate Buy with a $34.33 average price target.
Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) major shareholder Edward Smolyansky sold 38,452 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $29.85, for a total transaction of $1,147,792.20. Following the completion of the transaction, the insider owned 1,014,190 shares of the company's stock, valued at $30,273,571.50. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Edward Smolyansky also recently made the following trade(s):
- On Monday, June 22nd, Edward Smolyansky sold 50,000 shares of Lifeway Foods stock. The stock was sold at an average price of $26.20, for a total transaction of $1,310,000.00.
- On Friday, May 15th, Edward Smolyansky sold 24,000 shares of Lifeway Foods stock. The stock was sold at an average price of $24.87, for a total transaction of $596,880.00.
- On Thursday, May 14th, Edward Smolyansky sold 25,000 shares of Lifeway Foods stock. The stock was sold at an average price of $25.34, for a total transaction of $633,500.00.
Lifeway Foods Stock Performance
NASDAQ LWAY opened at $29.39 on Friday. The company's 50 day simple moving average is $25.58 and its two-hundred day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.14 and a quick ratio of 1.56. Lifeway Foods, Inc. has a 1 year low of $17.31 and a 1 year high of $34.20. The stock has a market capitalization of $449.08 million, a PE ratio of 30.30 and a beta of 0.48.
Lifeway Foods (NASDAQ:LWAY - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. The firm had revenue of $63.01 million during the quarter, compared to analyst estimates of $60.80 million. Lifeway Foods had a net margin of 6.54% and a return on equity of 17.76%.
Hedge Funds Weigh In On Lifeway Foods
A number of hedge funds and other institutional investors have recently bought and sold shares of LWAY. Strs Ohio bought a new position in shares of Lifeway Foods in the 1st quarter worth $90,000. Rhumbline Advisers raised its position in shares of Lifeway Foods by 8.2% during 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. Geode Capital Management LLC lifted its holdings in shares of Lifeway Foods by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 124,726 shares of the company's stock worth $3,075,000 after acquiring an additional 7,718 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Lifeway Foods by 293.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,472 shares of the company's stock worth $332,000 after acquiring an additional 10,049 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Lifeway Foods by 6.8% in the second quarter. First Trust Advisors LP now owns 17,178 shares of the company's stock worth $423,000 after acquiring an additional 1,091 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.
Analyst Upgrades and Downgrades
LWAY has been the subject of several recent analyst reports. Wall Street Zen cut Lifeway Foods from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Benchmark reaffirmed a "buy" rating on shares of Lifeway Foods in a report on Monday, June 15th. Finally, Weiss Ratings upgraded Lifeway Foods from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.33.
Check Out Our Latest Research Report on Lifeway Foods
About Lifeway Foods
(
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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