Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells $3,885,843.49 in Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 176,549 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.01, for a total transaction of $3,885,843.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Levi Strauss & Co. Stock Performance

Shares of LEVI stock opened at $23.69 on Friday. The company has a 50 day moving average price of $21.19 and a 200-day moving average price of $21.16. Levi Strauss & Co. has a 52 week low of $16.50 and a 52 week high of $24.82. The firm has a market capitalization of $9.11 billion, a PE ratio of 15.09, a P/E/G ratio of 1.77 and a beta of 1.35. 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) last released its quarterly earnings data 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 firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities research analysts expect that Levi Strauss & Co. will post 1.5 earnings per share for the current year.

Levi Strauss & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors 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 dividend on an annualized basis and a yield of 2.4%. Levi Strauss & Co.’s dividend payout ratio is 35.67%.

Levi Strauss & Co. News Summary

Here are the key news stories impacting Levi Strauss & Co. this week:

• Positive Sentiment: Analysts continue to view Levi Strauss favorably, with the stock carrying a consensus “Moderate Buy” rating and an average price target around $26.69, reflecting expectations for further upside. Article Title
• Positive Sentiment: The company’s latest quarterly results beat expectations, with revenue and EPS both topping estimates and revenue rising 14.1% year over year, reinforcing the case for fundamental strength. Article Title
• Neutral Sentiment: Several large shareholders, including Robert D. Haas, Margaret E. Haas, and the E. Haas Jr. Family Fund, disclosed stock sales under pre-arranged Rule 10b5-1 plans. While these transactions are routine and not necessarily a negative signal, the volume of selling may still weigh on investor sentiment. Article Title
• Negative Sentiment: The largest disclosed sale was Robert D. Haas selling 192,451 shares for about $4.36 million, adding to concerns that insiders may be trimming exposure after the recent run-up in the stock. Article Title

Analysts Set New Price Targets

A number of research analysts recently weighed in on LEVI shares. BTIG Research restated a “buy” rating and set a $27.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 11th. Telsey Advisory Group restated an “outperform” rating and set a $27.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday, April 1st. UBS Group boosted their price target on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.79.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in LEVI. Bank of New York Mellon Corp boosted its holdings in shares of Levi Strauss & Co. by 462.4% in the first quarter. Bank of New York Mellon Corp now owns 4,839,861 shares of the blue-jean maker’s stock worth $89,489,000 after buying an additional 3,979,223 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Levi Strauss & Co. by 123,970.4% in the second quarter. Balyasny Asset Management L.P. now owns 3,163,649 shares of the blue-jean maker’s stock worth $58,496,000 after buying an additional 3,166,203 shares during the last quarter. GW&K Investment Management LLC purchased a new position in shares of Levi Strauss & Co. in the third quarter worth approximately $39,322,000. Swedbank AB purchased a new position in shares of Levi Strauss & Co. in the first quarter worth approximately $24,799,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Levi Strauss & Co. by 44.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,243,680 shares of the blue-jean maker’s stock worth $88,014,000 after buying an additional 1,296,474 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Levi Strauss & Co.

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.