Goldman Sachs Group Inc. Buys 1,296,474 Shares of Levi Strauss & Co. $LEVI

Goldman Sachs Group Inc. boosted its stake in shares of Levi Strauss & Co. (NYSE:LEVI) by 44.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,243,680 shares of the blue-jean maker’s stock after acquiring an additional 1,296,474 shares during the period. Goldman Sachs Group Inc. owned 1.09% of Levi Strauss & Co. worth $88,014,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Levi Strauss & Co. by 260.5% during the 3rd quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 810 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Levi Strauss & Co. during the 4th quarter worth $26,000. Northwestern Mutual Wealth Management Co. increased its stake in Levi Strauss & Co. by 140.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Levi Strauss & Co. by 133.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock worth $51,000 after acquiring an additional 1,879 shares during the period. Finally, LSV Asset Management bought a new position in Levi Strauss & Co. during the 3rd quarter worth $117,000. Institutional investors own 69.14% of the company’s stock.

Levi Strauss & Co. Trading Up 2.5%

Shares of LEVI opened at $23.60 on Wednesday. Levi Strauss & Co. has a 52-week low of $16.50 and a 52-week high of $24.82. The business’s fifty day moving average is $21.92 and its 200-day moving average is $21.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.73 and a beta of 1.34.

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 (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Levi Strauss & Co.’s dividend payout ratio (DPR) is 35.67%.

Insider Activity at Levi Strauss & Co.

In related news, major shareholder Margaret E. Haas sold 2,279 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.01, for a total transaction of $54,718.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karyn Hillman sold 38,938 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.91, for a total value of $892,069.58. Following the sale, the executive vice president directly owned 91,522 shares in the company, valued at approximately $2,096,769.02. This trade represents a 29.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 783,154 shares of company stock worth $17,630,460 over the last 90 days. 1.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Levi Strauss & Co. 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.