Lifeway Foods (NASDAQ:LWAY) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Lifeway Foods, Inc. (NASDAQ:LWAY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.97 and traded as high as $32.71. Lifeway Foods shares last traded at $32.09, with a volume of 71,278 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LWAY shares. Weiss Ratings raised shares of Lifeway Foods from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Benchmark reissued a “buy” rating on shares of Lifeway Foods in a research note on Monday, June 15th. Finally, Wall Street Zen cut Lifeway Foods from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Lifeway Foods Trading Up 2.2%

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 stock has a market cap of $490.34 million, a price-to-earnings ratio of 33.08 and a beta of 0.45. The company’s 50 day simple moving average is $26.74 and its two-hundred day simple moving average is $23.97.

Lifeway Foods (NASDAQ:LWAY) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Lifeway Foods had a return on equity of 17.76% and a net margin of 6.54%.The business had revenue of $63.01 million during the quarter, compared to analyst estimates of $60.80 million.

Insider Activity at Lifeway Foods

In related news, major shareholder Edward Smolyansky sold 39,098 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $29.41, for a total value of $1,149,872.18. Following the completion of the sale, the insider directly owned 1,071,709 shares in the company, valued at approximately $31,518,961.69. The trade was a 3.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ludmila Smolyansky sold 45,616 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $29.65, for a total transaction of $1,352,514.40. Following the completion of the sale, the insider owned 607,207 shares of the company’s stock, valued at $18,003,687.55. The trade was a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,921,454 shares of company stock valued at $80,633,139. Insiders own 18.58% of the company’s stock.

Institutional Trading of Lifeway Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in shares of Lifeway Foods during the first quarter worth approximately $90,000. Rhumbline Advisers increased its stake in Lifeway Foods by 8.2% during the first quarter. Rhumbline Advisers now owns 6,068 shares of the company’s stock valued at $148,000 after acquiring an additional 462 shares during the period. Geode Capital Management LLC increased its stake in Lifeway Foods by 6.6% during the second quarter. Geode Capital Management LLC now owns 124,726 shares of the company’s stock valued at $3,075,000 after acquiring an additional 7,718 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Lifeway Foods by 293.6% in the second quarter. JPMorgan Chase & Co. now owns 13,472 shares of the company’s stock valued at $332,000 after purchasing an additional 10,049 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Lifeway Foods by 6.8% in the 2nd quarter. First Trust Advisors LP now owns 17,178 shares of the company’s stock valued at $423,000 after buying an additional 1,091 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

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.