Levi Strauss & Co. (NYSE:LEVI) Sets New 1-Year High After Analyst Upgrade

Levi Strauss & Co. (NYSE:LEVIGet Free Report) reached a new 52-week high during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $17.00 to $20.00. Wells Fargo & Company currently has an equal weight rating on the stock. Levi Strauss & Co. traded as high as $22.39 and last traded at $22.06, with a volume of 7302668 shares changing hands. The stock had previously closed at $18.66.

A number of other research analysts have also issued reports on the stock. Telsey Advisory Group raised their target price on shares of Levi Strauss & Co. from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen boosted their price objective on shares of Levi Strauss & Co. from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group upped their price objective on shares of Levi Strauss & Co. from $21.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Levi Strauss & Co. from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, January 26th. Finally, TheStreet raised shares of Levi Strauss & Co. from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Check Out Our Latest Analysis on Levi Strauss & Co.

Insiders Place Their Bets

In other news, EVP Tracy Layney sold 15,894 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $17.02, for a total transaction of $270,515.88. Following the completion of the sale, the executive vice president now owns 41,468 shares in the company, valued at approximately $705,785.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Tracy Layney sold 15,894 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $17.02, for a total value of $270,515.88. Following the sale, the executive vice president now owns 41,468 shares of the company’s stock, valued at approximately $705,785.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Friedman sold 10,422 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.00, for a total value of $208,440.00. Following the completion of the sale, the director now directly owns 169,008 shares in the company, valued at approximately $3,380,160. The disclosure for this sale can be found here. Insiders have sold 154,712 shares of company stock valued at $2,965,985 over the last quarter. Insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Levi Strauss & Co. by 7.6% in the third quarter. Wellington Management Group LLP now owns 8,626,322 shares of the blue-jean maker’s stock worth $117,145,000 after purchasing an additional 610,838 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Levi Strauss & Co. by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,391,385 shares of the blue-jean maker’s stock worth $138,794,000 after acquiring an additional 97,043 shares during the last quarter. Capital Research Global Investors raised its position in shares of Levi Strauss & Co. by 17.8% during the fourth quarter. Capital Research Global Investors now owns 6,625,378 shares of the blue-jean maker’s stock worth $109,584,000 after acquiring an additional 1,000,000 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Levi Strauss & Co. by 11.7% during the first quarter. Macquarie Group Ltd. now owns 5,989,518 shares of the blue-jean maker’s stock worth $109,189,000 after acquiring an additional 626,601 shares during the last quarter. Finally, FMR LLC raised its position in shares of Levi Strauss & Co. by 1.8% during the third quarter. FMR LLC now owns 5,913,865 shares of the blue-jean maker’s stock worth $80,310,000 after acquiring an additional 105,924 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Levi Strauss & Co. Trading Up 17.5 %

The company has a market cap of $8.73 billion, a P/E ratio of 34.97, a P/E/G ratio of 1.19 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.48 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $18.03 and a two-hundred day moving average price of $15.98.

Levi Strauss & Co. (NYSE:LEVIGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The blue-jean maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.66 billion. Levi Strauss & Co. had a return on equity of 22.33% and a net margin of 4.04%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, analysts predict that Levi Strauss & Co. will post 1.22 EPS for the current year.

Levi Strauss & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Wednesday, February 7th were issued a $0.12 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.48 annualized dividend and a dividend yield of 2.19%. Levi Strauss & Co.’s dividend payout ratio (DPR) is currently 76.19%.

About Levi Strauss & Co.

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Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.

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