Zacks Investment Research upgraded shares of Lifeway Foods, Inc. (NASDAQ:LWAY) from a strong sell rating to a hold rating in a research note issued to investors on Thursday.

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. “

Lifeway Foods (NASDAQ:LWAY) opened at 9.17 on Thursday. The firm has a market cap of $148.13 million, a P/E ratio of 55.91 and a beta of 0.61. The stock has a 50 day moving average price of $9.44 and a 200-day moving average price of $10.17. Lifeway Foods has a one year low of $8.31 and a one year high of $18.48.

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Lifeway Foods announced that its board has approved a share buyback program on Monday, June 26th that allows the company to buyback $6.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4% of its shares through a tender offer. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Several large investors have recently added to or reduced their stakes in the company. Financial & Investment Management Group Ltd. acquired a new stake in Lifeway Foods during the second quarter worth approximately $145,000. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Kennedy Capital Management Inc. raised 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. TIAA CREF Investment Management LLC raised its stake 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 in the last quarter. Finally, FMR LLC raised its stake in Lifeway Foods by 9.0% in the first quarter. FMR LLC now owns 277,426 shares of the company’s stock worth $2,977,000 after buying an additional 22,800 shares in the last quarter. 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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