Wall Street Zen Downgrades Lifeway Foods (NASDAQ:LWAY) to Hold

Lifeway Foods (NASDAQ:LWAY) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Lifeway Foods in a report on Monday, December 29th. Benchmark restated a “buy” rating on shares of Lifeway Foods in a research report on Wednesday. Finally, Morgan Stanley set a $35.00 price target on Lifeway Foods in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Lifeway Foods Stock Performance

Shares of NASDAQ LWAY opened at $21.85 on Friday. The firm has a fifty day moving average of $23.23 and a 200 day moving average of $26.00. The firm has a market cap of $332.75 million, a PE ratio of 29.93 and a beta of 0.10. Lifeway Foods has a one year low of $19.50 and a one year high of $34.20.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). The company had revenue of $57.14 million for the quarter, compared to analysts’ expectations of $55.00 million. Lifeway Foods had a net margin of 5.47% and a return on equity of 14.51%.

Insider Buying and Selling

In related news, major shareholder Ludmila Smolyansky sold 26,431 shares of Lifeway Foods stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $24.42, for a total transaction of $645,445.02. Following the transaction, the insider owned 757,823 shares in the company, valued at approximately $18,506,037.66. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 75,000 shares of company stock worth $1,779,895 in the last quarter. Company insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of Lifeway Foods during the 3rd quarter worth $31,000. BNP Paribas Financial Markets grew its holdings in shares of Lifeway Foods by 577.3% in the second 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 increased its position in 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 worth $44,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Lifeway Foods during the second quarter worth about $40,000. Finally, Strs Ohio purchased a new position in Lifeway Foods during the first quarter worth about $90,000. 36.39% of the stock is owned by institutional investors and hedge funds.

About Lifeway Foods

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.