Insider Selling: Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells 176,549 Shares of Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 176,549 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.01, for a total transaction of $3,885,843.49. 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. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Levi Strauss & Co. Price Performance

Shares of LEVI stock traded up $0.75 during midday trading on Tuesday, reaching $22.77. 958,981 shares of the company were exchanged, compared to its average volume of 2,706,583. Levi Strauss & Co. has a 12 month low of $16.50 and a 12 month high of $24.82. The company has a market cap of $8.76 billion, a P/E ratio of 14.50, a PEG ratio of 1.66 and a beta of 1.35. The company’s 50 day moving average price is $20.89 and its two-hundred day moving average price is $21.09. 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. (NYSE:LEVI) last announced its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, sell-side analysts expect that Levi Strauss & Co. will post 1.5 earnings per share for the current year.

Levi Strauss & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. Levi Strauss & Co.’s payout ratio is currently 35.67%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Amundi increased its stake in shares of Levi Strauss & Co. by 73.3% during the 1st quarter. Amundi now owns 18,828 shares of the blue-jean maker’s stock worth $348,000 after purchasing an additional 7,963 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Levi Strauss & Co. by 25.6% during the 1st quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker’s stock worth $1,984,000 after purchasing an additional 21,853 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Levi Strauss & Co. by 117.2% during the 1st quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker’s stock worth $6,635,000 after purchasing an additional 193,607 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Levi Strauss & Co. by 7.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,636,734 shares of the blue-jean maker’s stock worth $30,263,000 after purchasing an additional 114,749 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Levi Strauss & Co. by 66.0% during the 1st quarter. Lazard Asset Management LLC now owns 16,271 shares of the blue-jean maker’s stock worth $301,000 after purchasing an additional 6,472 shares during the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on LEVI shares. Weiss Ratings raised shares of Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Telsey Advisory Group restated an “outperform” rating and set a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Jefferies Financial Group began coverage on shares of Levi Strauss & Co. in a report on Wednesday, February 4th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Raymond James Financial restated an “outperform” rating and set a $25.00 price target on shares of Levi Strauss & Co. in a report on Monday, May 4th. Twelve equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.69.

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.