Zacks Investment Research upgraded shares of Lifeway Foods, Inc. (NASDAQ:LWAY) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning.
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 1.71% during trading on Thursday, hitting $9.17. The company had a trading volume of 8,106 shares. The stock has a market cap of $148.13 million, a PE ratio of 55.91 and a beta of 0.61. The firm has a 50 day moving average of $9.44 and a 200 day moving average of $10.17. Lifeway Foods has a 12-month low of $8.31 and a 12-month high of $18.48.
Lifeway Foods declared that its board has authorized a share buyback plan on Monday, June 26th that authorizes the company to repurchase $6.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4% of its shares through a tender offer. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC increased its position in Lifeway Foods by 12.1% in the first quarter. TIAA CREF Investment Management LLC now owns 17,263 shares of the company’s stock worth $185,000 after buying an additional 1,859 shares during the period. Cadence Capital Management LLC increased its position in Lifeway Foods by 4.4% in the first quarter. Cadence Capital Management LLC now owns 57,862 shares of the company’s stock worth $621,000 after buying an additional 2,448 shares during the period. Dimensional Fund Advisors LP increased its position in Lifeway Foods by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 343,833 shares of the company’s stock worth $3,689,000 after buying an additional 5,942 shares during the period. Kennedy Capital Management Inc. boosted its stake in Lifeway Foods by 85.4% in the first quarter. Kennedy Capital Management Inc. now owns 30,541 shares of the company’s stock worth $328,000 after buying an additional 14,068 shares in the last quarter. Finally, TFS Capital LLC purchased a new stake in Lifeway Foods during the first quarter worth approximately $153,000. 17.27% of the stock is currently owned by institutional investors.
Lifeway Foods Company Profile
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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