Lifeway Foods, Inc. (NASDAQ:LWAY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The firm presently has a $9.75 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 19.34% from the stock’s previous close.

According to Zacks, “LIFEWAY FOODS, INC. produces Kefir, a drinkable product similar to, but distinct from yogurt, in several flavors sold under the name Lifeway’s Kefir. “

Shares of Lifeway Foods (LWAY) traded down 2.51% during midday trading on Thursday, reaching $8.17. The company’s stock had a trading volume of 23,669 shares. The company has a market capitalization of $131.28 million, a P/E ratio of 83.37 and a beta of 0.64. Lifeway Foods has a 1-year low of $8.12 and a 1-year high of $18.48. The stock has a 50 day moving average of $9.14 and a 200-day moving average of $9.78.

Lifeway Foods declared that its board has initiated a stock repurchase plan on Monday, June 26th that authorizes the company to repurchase $6.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its stock through a tender offer. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Lifeway Foods by 5.1% in the second quarter. State Street Corp now owns 86,730 shares of the company’s stock valued at $811,000 after acquiring an additional 4,203 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lifeway Foods by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 346,548 shares of the company’s stock valued at $3,237,000 after acquiring an additional 2,715 shares in the last quarter. FMR LLC boosted its holdings in shares of Lifeway Foods by 0.9% in the second quarter. FMR LLC now owns 279,939 shares of the company’s stock valued at $2,615,000 after acquiring an additional 2,513 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Lifeway Foods by 1.3% in the second quarter. Vanguard Group Inc. now owns 231,997 shares of the company’s stock valued at $2,166,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Lifeway Foods by 1.3% in the second quarter. Northern Trust Corp now owns 62,380 shares of the company’s stock valued at $582,000 after acquiring an additional 819 shares in the last quarter. Institutional investors and hedge funds own 16.61% of the company’s stock.

About Lifeway Foods

Lifeway Foods, Inc (Lifeway) is engaged in the manufacturing of probiotic, cultured, functional dairy health food products. The Company is engaged in the sale of fermented dairy products, which are produced and are sold to consumers through a network of distributors and retailers in the United States.

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