Levi Strauss & Co. (NYSE:LEVI) Announces Quarterly Earnings Results

Levi Strauss & Co. (NYSE:LEVI) announced its quarterly earnings data on Wednesday. The blue-jean maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, FiscalAI reports. Levi Strauss & Co. had a return on equity of 27.92% and a net margin of 9.48%.The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion.

Levi Strauss & Co. Stock Down 3.5%

Levi Strauss & Co. stock traded down $0.74 on Wednesday, hitting $20.51. 3,974,428 shares of the stock traded hands, compared to its average volume of 1,967,462. The company has a current ratio of 1.52, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.01 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33. The business’s fifty day simple moving average is $21.47 and its 200 day simple moving average is $21.51. Levi Strauss & Co. has a 1 year low of $12.17 and a 1 year high of $24.82.

Institutional Trading of Levi Strauss & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of LEVI. Balyasny Asset Management L.P. grew its stake in shares of Levi Strauss & Co. by 123,970.4% in the 2nd 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 in the last quarter. Oberweis Asset Management Inc. purchased a new position in shares of Levi Strauss & Co. in the 3rd quarter worth approximately $21,052,000. Ameriprise Financial Inc. boosted its holdings in Levi Strauss & Co. by 83.4% in the second quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker’s stock worth $36,208,000 after acquiring an additional 890,752 shares in the last quarter. Two Sigma Investments LP grew its stake in Levi Strauss & Co. by 712.5% during the 3rd quarter. Two Sigma Investments LP now owns 638,830 shares of the blue-jean maker’s stock valued at $14,885,000 after purchasing an additional 560,202 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Levi Strauss & Co. by 37.8% during the second quarter. Bank of America Corp DE now owns 1,570,361 shares of the blue-jean maker’s stock worth $29,036,000 after purchasing an additional 431,168 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LEVI shares. Stifel Nicolaus upped their price target on Levi Strauss & Co. from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. boosted their target price on Levi Strauss & Co. from $23.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial began coverage on shares of Levi Strauss & Co. in a report on Tuesday, December 23rd. They set an “outperform” rating and a $26.00 target price on the stock. BTIG Research started coverage on shares of Levi Strauss & Co. in a report on Tuesday, October 14th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Bank of America increased their price target on Levi Strauss & Co. from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Levi Strauss & Co. presently has an average rating of “Moderate Buy” and an average price target of $26.46.

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.