Levi Strauss & Co. (NYSE:LEVI) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Levi Strauss & Co. (NYSE:LEVI) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has $20.00 target price on the blue-jean maker’s stock, up from their previous target price of $17.00.

LEVI has been the topic of several other research reports. Barclays lowered their target price on shares of Levi Strauss & Co. from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Levi Strauss & Co. from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $19.00 to $17.00 in a research note on Tuesday. Wells Fargo & Company cut their target price on Levi Strauss & Co. from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Guggenheim lifted their price target on Levi Strauss & Co. from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley dropped their price objective on Levi Strauss & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.18.

Levi Strauss & Co. Stock Performance

Shares of NYSE LEVI opened at $14.50 on Thursday. Levi Strauss & Co. has a 12-month low of $12.17 and a 12-month high of $24.34. The company has a market cap of $5.74 billion, a PE ratio of 27.88, a P/E/G ratio of 1.92 and a beta of 1.07. The stock has a 50 day simple moving average of $16.64 and a 200-day simple moving average of $17.45. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.

Levi Strauss & Co. (NYSE:LEVI) last announced its earnings results on Monday, April 7th. The blue-jean maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. Levi Strauss & Co. had a return on equity of 25.88% and a net margin of 3.32%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current year.

Levi Strauss & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Thursday, April 24th will be given a $0.13 dividend. The ex-dividend date is Thursday, April 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.59%. Levi Strauss & Co.’s dividend payout ratio (DPR) is 58.43%.

Insider Buying and Selling

In related news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $18.44, for a total value of $76,821.04. Following the completion of the transaction, the director now owns 100,012 shares of the company’s stock, valued at approximately $1,844,221.28. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.25% of the stock is currently owned by company insiders.

Institutional Trading of Levi Strauss & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Levi Strauss & Co. during the fourth quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Levi Strauss & Co. in the 4th quarter valued at about $57,000. New Age Alpha Advisors LLC acquired a new position in shares of Levi Strauss & Co. in the 4th quarter valued at about $82,000. Matrix Trust Co lifted its position in shares of Levi Strauss & Co. by 678.9% in the fourth quarter. Matrix Trust Co now owns 5,507 shares of the blue-jean maker’s stock worth $95,000 after purchasing an additional 4,800 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Levi Strauss & Co. during the fourth quarter worth approximately $105,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

About Levi Strauss & Co.

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.