Morgan Stanley Cuts Levi Strauss & Co. (NYSE:LEVI) Price Target to $18.00

Levi Strauss & Co. (NYSE:LEVI) had its price target trimmed by Morgan Stanley from $19.00 to $18.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the blue-jean maker’s stock.

Several other equities analysts have also issued reports on LEVI. Citigroup decreased their price target on shares of Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Barclays initiated coverage on Levi Strauss & Co. in a research note on Wednesday, January 8th. They issued an “overweight” rating and a $24.00 target price for the company. JPMorgan Chase & Co. raised their price target on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. TD Cowen decreased their price objective on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered their target price on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.30.

Levi Strauss & Co. Stock Up 1.1 %

Shares of NYSE LEVI opened at $17.82 on Tuesday. Levi Strauss & Co. has a 52-week low of $15.16 and a 52-week high of $24.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 1.41. The stock has a market cap of $7.07 billion, a P/E ratio of 46.88, a P/E/G ratio of 0.97 and a beta of 1.16. The firm has a 50 day moving average price of $17.29 and a 200 day moving average price of $18.20.

Insider Activity

In related news, Director David A. Friedman sold 8,332 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.00, for a total transaction of $149,976.00. Following the completion of the transaction, the director now directly owns 108,344 shares of the company’s stock, valued at $1,950,192. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Levi Strauss & Co.

Several institutional investors and hedge funds have recently made changes to their positions in LEVI. Point72 Asset Management L.P. bought a new position in shares of Levi Strauss & Co. in the second quarter valued at $8,552,000. Shellback Capital LP acquired a new stake in shares of Levi Strauss & Co. in the 2nd quarter worth about $482,000. Aigen Investment Management LP bought a new position in Levi Strauss & Co. in the 3rd quarter valued at about $1,673,000. Armistice Capital LLC bought a new position in Levi Strauss & Co. in the 2nd quarter valued at about $6,690,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Levi Strauss & Co. by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 794,408 shares of the blue-jean maker’s stock valued at $17,318,000 after purchasing an additional 110,993 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

About Levi Strauss & Co.

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.