Lifeway Foods (NASDAQ:LWAY) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued on Friday. The brokerage set a “hold” rating on the stock.

Separately, Noble Financial lowered Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th.

Lifeway Foods Price Performance

NASDAQ:LWAY opened at $22.45 on Friday. The company’s 50-day moving average is $23.77 and its two-hundred day moving average is $21.15. Lifeway Foods has a 1-year low of $9.93 and a 1-year high of $28.61. The firm has a market capitalization of $332.71 million, a price-to-earnings ratio of 26.10 and a beta of 1.02.

Insider Buying and Selling

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 45,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $23.49, for a total transaction of $1,057,050.00. Following the transaction, the insider now directly owns 1,025,549 shares in the company, valued at $24,090,146.01. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 112,034 shares of company stock valued at $2,584,117. Company insiders own 18.86% of the company’s stock.

Institutional Investors Weigh In On Lifeway Foods

Several institutional investors and hedge funds have recently modified their holdings of LWAY. JPMorgan Chase & Co. grew its position in Lifeway Foods by 451.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,576 shares of the company’s stock valued at $274,000 after acquiring an additional 8,658 shares in the last quarter. Barclays PLC grew its holdings in shares of Lifeway Foods by 40.5% in the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock valued at $167,000 after purchasing an additional 1,849 shares in the last quarter. Geode Capital Management LLC increased its stake in Lifeway Foods by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 115,971 shares of the company’s stock worth $3,006,000 after buying an additional 2,018 shares during the period. State Street Corp lifted its holdings in Lifeway Foods by 28.9% during the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock worth $1,391,000 after buying an additional 12,020 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Lifeway Foods in the 3rd quarter valued at approximately $679,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.