JPMorgan Chase & Co. Cuts Levi Strauss & Co. (NYSE:LEVI) Price Target to $19.00

Levi Strauss & Co. (NYSE:LEVI) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the blue-jean maker’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.65% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Barclays assumed coverage on shares of Levi Strauss & Co. in a research note on Wednesday, January 8th. They set an “overweight” rating and a $24.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday. Citigroup decreased their price objective on Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, January 17th. TD Cowen dropped their target price on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Morgan Stanley lowered their price target on shares of Levi Strauss & Co. from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.10.

Levi Strauss & Co. Trading Up 1.1 %

LEVI stock opened at $17.82 on Friday. Levi Strauss & Co. has a 12 month low of $15.16 and a 12 month high of $24.34. The firm’s 50-day moving average is $17.29 and its 200 day moving average is $18.20. The company has a market capitalization of $7.07 billion, a PE ratio of 46.88, a P/E/G ratio of 0.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.41 and a quick ratio of 0.76.

Insiders Place Their Bets

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.00, for a total value of $74,988.00. Following the completion of the sale, the director now directly owns 104,178 shares in the company, valued at approximately $1,875,204. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Washington Capital Management Inc. grew its position in Levi Strauss & Co. by 21.4% during the 4th quarter. Washington Capital Management Inc. now owns 34,000 shares of the blue-jean maker’s stock worth $588,000 after purchasing an additional 6,000 shares during the last quarter. R Squared Ltd acquired a new position in shares of Levi Strauss & Co. in the fourth quarter valued at about $105,000. Twelve Points Wealth Management LLC lifted its holdings in shares of Levi Strauss & Co. by 15.4% during the fourth quarter. Twelve Points Wealth Management LLC now owns 57,147 shares of the blue-jean maker’s stock worth $989,000 after purchasing an additional 7,633 shares during the period. Hunter Perkins Capital Management LLC lifted its holdings in shares of Levi Strauss & Co. by 93.8% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 42,025 shares of the blue-jean maker’s stock worth $727,000 after purchasing an additional 20,335 shares during the period. Finally, KBC Group NV boosted its position in Levi Strauss & Co. by 0.8% in the fourth quarter. KBC Group NV now owns 114,442 shares of the blue-jean maker’s stock valued at $1,980,000 after buying an additional 892 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.