Key Points
- Major shareholder Robert Haas sold 192,451 shares of Levi Strauss stock on May 26 at an average price of $22.68, totaling about $4.36 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Levi Strauss reported strong quarterly results, with EPS of $0.42 versus $0.37 expected and revenue of $1.74 billion, up 14.1% year over year. Analysts now expect the company to earn about 1.5 EPS for the full year.
- Despite the insider selling, Wall Street remains constructive on LEVI, with a consensus rating of “Moderate Buy” and an average price target of $26.79. The stock also pays a quarterly dividend of $0.14, equal to a 2.4% annualized yield.
Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Margaret Haas sold 2,279 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $24.01, for a total value of $54,718.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Levi Strauss & Co. Stock Up 1.3%
Levi Strauss & Co. stock opened at $23.69 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. The business's 50-day simple moving average is $21.19 and its two-hundred day simple moving average is $21.16. The company has a market cap of $9.11 billion, a PE ratio of 15.09, a PEG ratio of 1.77 and a beta of 1.35. Levi Strauss & Co. has a fifty-two week low of $16.50 and a fifty-two week 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 for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.65 billion. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. Equities analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current year.
Levi Strauss & Co. Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, April 22nd. Levi Strauss & Co.'s payout ratio is presently 35.67%.
Analyst Ratings Changes
Several analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Levi Strauss & Co. in a research note on Wednesday, February 4th. They set a "buy" rating and a $25.00 price target on the stock. Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Levi Strauss & Co. in a report on Monday, May 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Levi Strauss & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $26.79.
Check Out Our Latest Report on LEVI
Levi Strauss & Co. News Roundup
Here are the key news stories impacting Levi Strauss & Co. this week:
- Positive Sentiment: Analysts continue to view Levi Strauss as a "Moderate Buy", which suggests Wall Street still sees upside in the company despite the recent insider selling. Levi Strauss & Co. (NYSE:LEVI) Given Consensus Rating of "Moderate Buy" by Analysts
- Neutral Sentiment: An article highlighted analyst commentary on Levi Strauss alongside other consumer cyclical stocks, but it did not appear to include any major new company-specific operational update. Analysts Offer Insights on Consumer Cyclical Companies: Levi Strauss & Co (LEVI), Toll Brothers (TOL) and Five Below (FIVE)
- Negative Sentiment: Major shareholder Robert D. Haas sold 192,451 shares in a pre-arranged transaction, a large insider disposition that can pressure sentiment even if it was planned. SEC filing for Robert D. Haas sale
- Negative Sentiment: Robert D. Haas also sold an additional 5,832 shares at $24.00, reinforcing the impression of insider selling near recent highs. SEC filing for Robert D. Haas sale
- Negative Sentiment: Peter Haas Jr. Family Fund sold 4,338 shares in another 10b5-1 transaction, while Margaret E. Haas sold 2,279 shares, adding to the cluster of insider sales. SEC filing for Peter Haas Jr. Family Fund sale SEC filing for Margaret E. Haas sale
Hedge Funds Weigh In On Levi Strauss & Co.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Amundi lifted its holdings in shares of Levi Strauss & Co. by 73.3% in the 1st quarter. Amundi now owns 18,828 shares of the blue-jean maker's stock valued at $348,000 after buying an additional 7,963 shares during the period. California State Teachers Retirement System grew its position in Levi Strauss & Co. by 25.6% during the first quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker's stock valued at $1,984,000 after buying an additional 21,853 shares during the period. Royal Bank of Canada grew its position in Levi Strauss & Co. by 117.2% during the first quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker's stock valued at $6,635,000 after buying an additional 193,607 shares during the period. The Manufacturers Life Insurance Company grew its position in Levi Strauss & Co. by 7.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,636,734 shares of the blue-jean maker's stock valued at $30,263,000 after buying an additional 114,749 shares during the period. Finally, Lazard Asset Management LLC grew its position in Levi Strauss & Co. by 66.0% during the first quarter. Lazard Asset Management LLC now owns 16,271 shares of the blue-jean maker's stock valued at $301,000 after buying an additional 6,472 shares during the period. Institutional investors and hedge funds own 69.14% of the company's stock.
About Levi Strauss & Co.
(
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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