Key Points
- Major shareholder Robert Haas sold 488,851 shares of Levi Strauss stock on June 11 at an average price of $24.11, totaling about $11.8 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Levi Strauss recently reported better-than-expected quarterly results, with EPS of $0.42 versus $0.37 expected and revenue of $1.74 billion versus $1.65 billion estimated. Revenue rose 14.1% year over year.
- The company also pays a quarterly dividend of $0.14 per share, or $0.56 annually, for a yield of about 2.3%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $26.79.
Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Robert Haas sold 3,182 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.00, for a total value of $76,368.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Levi Strauss & Co. Stock Performance
Shares of Levi Strauss & Co. stock opened at $24.24 on Friday. The company has a market cap of $9.32 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.72 and a beta of 1.34. Levi Strauss & Co. has a 52 week low of $16.50 and a 52 week high of $24.82. The business has a 50 day moving average price of $22.13 and a 200-day moving average price of $21.31. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48.
Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.74 billion during 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 period in the prior year, the business posted $0.38 earnings per share. Equities analysts anticipate that Levi Strauss & Co. will post 1.51 earnings per share for the current fiscal year.
Levi Strauss & Co. Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders 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 2.3%. Levi Strauss & Co.'s dividend payout ratio is currently 35.67%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on LEVI shares. Weiss Ratings upgraded Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a research report on Monday, May 4th. TD Cowen reiterated a "buy" rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, May 27th. Telsey Advisory Group reiterated an "outperform" rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, April 1st. Finally, Wall Street Zen upgraded Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 11th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.79.
Get Our Latest Report on LEVI
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amundi grew its stake in shares of Levi Strauss & Co. by 73.3% in the first quarter. Amundi now owns 18,828 shares of the blue-jean maker's stock worth $348,000 after purchasing an additional 7,963 shares during the last quarter. California State Teachers Retirement System boosted its position in Levi Strauss & Co. by 25.6% during the 1st quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker's stock valued at $1,984,000 after acquiring an additional 21,853 shares in the last quarter. Royal Bank of Canada boosted its position in Levi Strauss & Co. by 117.2% during the 1st quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker's stock valued at $6,635,000 after acquiring an additional 193,607 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Levi Strauss & Co. by 7.5% during the 1st 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 acquiring an additional 114,749 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in Levi Strauss & Co. by 66.0% during the 1st quarter. Lazard Asset Management LLC now owns 16,271 shares of the blue-jean maker's stock valued at $301,000 after acquiring an additional 6,472 shares in the last quarter. 69.14% of the stock is owned by institutional investors.
Levi Strauss & Co. Company Profile
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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.
Further Reading
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