Robert Haas Sells 3,182 Shares of Levi Strauss & Co. (NYSE:LEVI) Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 3,182 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.00, for a total transaction of $76,368.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Levi Strauss & Co. Stock Down 0.9%

LEVI stock opened at $24.02 on Friday. The company’s 50 day moving average price is $22.23 and its 200 day moving average price is $21.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. Levi Strauss & Co. has a fifty-two week low of $16.50 and a fifty-two week high of $24.82. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.83 and a beta of 1.34.

Levi Strauss & Co. (NYSE:LEVI) last released its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, April 22nd. Levi Strauss & Co.’s dividend payout ratio is presently 35.67%.

Institutional Investors Weigh In On Levi Strauss & Co.

Several large investors have recently modified their holdings of 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 valued at $89,489,000 after acquiring an additional 3,979,223 shares during the period. 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 valued at $58,496,000 after acquiring an additional 3,166,203 shares during the period. GW&K Investment Management LLC acquired a new stake in shares of Levi Strauss & Co. in the third quarter valued at approximately $39,322,000. Swedbank AB acquired a new stake in shares of Levi Strauss & Co. during the first quarter worth $24,799,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Levi Strauss & Co. by 44.0% during 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 purchasing an additional 1,296,474 shares during the period. 69.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Wall Street Zen raised Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.79.

Levi Strauss & Co. Company Profile

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.