Key Points
- Major shareholder Robert Haas sold 31,000 Levi Strauss shares on May 21 at an average price of $22.00, totaling about $682,000. The trade was made under a pre-arranged Rule 10b5-1 plan and was disclosed to the SEC.
- Levi Strauss recently posted strong quarterly results, with EPS of $0.42 beating estimates of $0.37 and revenue of $1.74 billion topping expectations. Revenue rose 14.1% year over year, and the company also reported solid profitability metrics.
- Wall Street remains broadly positive on LEVI, with multiple firms issuing buy ratings and price targets up to $34.00. The stock has a consensus rating of “Moderate Buy” and an average target price of $26.69.
Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Robert Haas sold 31,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $22.00, for a total transaction of $682,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Levi Strauss & Co. Stock Performance
NYSE LEVI opened at $23.02 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.66 and a beta of 1.35. The firm's 50 day simple moving average is $20.99 and its 200 day simple moving average is $21.11. Levi Strauss & Co. has a 1 year low of $16.50 and a 1 year high of $24.82.
Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, research analysts expect that Levi Strauss & Co. will post 1.5 earnings per share for the current fiscal year.
Levi Strauss & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Levi Strauss & Co.'s dividend payout ratio (DPR) is currently 35.67%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on LEVI. Telsey Advisory Group reissued an "outperform" rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, April 1st. Jefferies Financial Group began coverage on shares of Levi Strauss & Co. in a research note on Wednesday, February 4th. They issued a "buy" rating and a $25.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Finally, UBS Group increased their price objective on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.69.
Check Out Our Latest Analysis on LEVI
Hedge Funds Weigh In On Levi Strauss & Co.
Several large investors have recently modified their holdings of LEVI. AQR Capital Management LLC raised its stake in shares of Levi Strauss & Co. by 181.6% during the first quarter. AQR Capital Management LLC now owns 151,645 shares of the blue-jean maker's stock valued at $2,364,000 after acquiring an additional 97,800 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Levi Strauss & Co. during the first quarter valued at $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Levi Strauss & Co. by 133.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker's stock valued at $51,000 after acquiring an additional 1,879 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Levi Strauss & Co. during the first quarter valued at $241,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Levi Strauss & Co. by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,597,687 shares of the blue-jean maker's stock valued at $24,908,000 after acquiring an additional 52,332 shares during the last quarter. Institutional investors own 69.14% of the company's stock.
Levi Strauss & Co. Company Profile
(
Get Free Report)
Levi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.
The company's flagship label, Levi's®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi's, cater to diverse price points and consumer segments.
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