Lifeway Foods (NASDAQ:LWAY) Major Shareholder Edward Smolyansky Sells 14,353 Shares of Stock

Lifeway Foods, Inc. (NASDAQ:LWAY) major shareholder Edward Smolyansky sold 14,353 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $17.77, for a total transaction of $255,052.81. Following the transaction, the insider directly owned 1,101,642 shares in the company, valued at $19,576,178.34. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Edward Smolyansky also recently made the following trade(s):

• On Tuesday, March 17th, Edward Smolyansky sold 22,313 shares of Lifeway Foods stock. The stock was sold at an average price of $20.10, for a total transaction of $448,491.30.
• On Monday, March 16th, Edward Smolyansky sold 13,334 shares of Lifeway Foods stock. The stock was sold at an average price of $20.60, for a total transaction of $274,680.40.

Lifeway Foods Stock Performance

Shares of LWAY opened at $17.83 on Friday. Lifeway Foods, Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $34.20. The company has a market capitalization of $271.53 million, a PE ratio of 19.81 and a beta of 0.13. The stock has a fifty day moving average of $21.65 and a two-hundred day moving average of $24.25.

Lifeway Foods (NASDAQ:LWAY) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.13). The business had revenue of $55.36 million for the quarter, compared to analyst estimates of $55.00 million. Lifeway Foods had a return on equity of 17.25% and a net margin of 6.52%.

Institutional Investors Weigh In On Lifeway Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in LWAY. Strs Ohio purchased a new stake in shares of Lifeway Foods during the 1st quarter worth about $90,000. Rhumbline Advisers raised its stake in shares of Lifeway Foods by 8.2% in the 1st 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 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 valued at $3,075,000 after acquiring an additional 7,718 shares in 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 valued at $332,000 after acquiring an additional 10,049 shares in the last quarter. Finally, Carlson Capital L.P. purchased a new stake in Lifeway Foods during the 2nd quarter worth $246,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Lifeway Foods in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Lifeway Foods in a report on Wednesday, January 14th. Wall Street Zen raised shares of Lifeway Foods from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Morgan Stanley set a $35.00 target price on shares of Lifeway Foods in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Lifeway Foods currently has an average rating of “Moderate Buy” and an average price target of $34.33.

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.