Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Robert Haas Sells 488,851 Shares

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 488,851 shares of Levi Strauss & Co. stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.11, for a total value of $11,786,197.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Levi Strauss & Co. Price Performance

Shares of Levi Strauss & Co. stock traded up $1.29 during trading on Thursday, hitting $24.24. 4,002,146 shares of the company were exchanged, compared to its average volume of 2,210,206. 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. has a fifty-two week low of $16.50 and a fifty-two week high of $24.82. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.72 and a beta of 1.34. The firm has a 50 day moving average price of $22.13 and a 200 day moving average price of $21.31.

Levi Strauss & Co. (NYSE:LEVI) last issued its quarterly earnings results 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 company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.65 billion. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.Levi Strauss & Co.’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities analysts expect that Levi Strauss & Co. will post 1.51 earnings per share for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a $0.14 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $0.56 annualized dividend and a yield of 2.3%. Levi Strauss & Co.’s payout ratio is 35.67%.

Analysts Set New Price Targets

A number of analysts have recently commented on LEVI shares. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Weiss Ratings upgraded Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. Telsey Advisory Group restated an “outperform” rating and set a $27.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Finally, Raymond James Financial restated an “outperform” rating and set a $25.00 price objective on shares of Levi Strauss & Co. in a report on Monday, May 4th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.79.

Institutional Trading of Levi Strauss & Co.

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Levi Strauss & Co. by 181.6% in the 1st quarter. AQR Capital Management LLC now owns 151,645 shares of the blue-jean maker’s stock valued at $2,364,000 after buying an additional 97,800 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Levi Strauss & Co. in the 1st quarter valued at about $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Levi Strauss & Co. by 133.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock valued at $51,000 after buying an additional 1,879 shares during the last quarter. Caxton Associates LLP purchased a new position in Levi Strauss & Co. in the 1st quarter valued at about $241,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Levi Strauss & Co. by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,597,687 shares of the blue-jean maker’s stock valued at $24,908,000 after buying an additional 52,332 shares during the last quarter. 69.14% of the stock is owned by hedge funds and other institutional investors.

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.