Levi Strauss & Co. (NYSE:LEVI) Hits New 1-Year High – Here’s Why

Levi Strauss & Co. (NYSE:LEVI) reached a new 52-week high during trading on Thursday . The stock traded as high as $25.58 and last traded at $24.5120, with a volume of 3247373 shares traded. The stock had previously closed at $24.83.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LEVI shares. TD Cowen reiterated a “buy” rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, May 27th. BTIG Research reiterated a “buy” rating and set a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. 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. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Finally, UBS Group increased their price target on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.93.

Levi Strauss & Co. Stock Down 1.3%

The firm has a market capitalization of $9.43 billion, a PE ratio of 15.61, a PEG ratio of 1.87 and a beta of 1.32. 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 company has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $21.52.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts forecast that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

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

Insider Activity

In related news, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of Levi Strauss & Co. stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the transaction, the insider directly owned 145,662 shares of the company’s stock, valued at $3,497,344.62. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karyn Hillman sold 38,938 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.91, for a total transaction of $892,069.58. Following the completion of the transaction, the executive vice president directly owned 91,522 shares of the company’s stock, valued at $2,096,769.02. This trade represents a 29.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,468,570 shares of company stock valued at $34,136,152. 1.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LEVI. Eastern Bank purchased a new stake in shares of Levi Strauss & Co. during the 2nd quarter worth $60,854,000. Amundi lifted its position in shares of Levi Strauss & Co. by 73.3% during the first quarter. Amundi now owns 18,828 shares of the blue-jean maker’s stock valued at $348,000 after buying an additional 7,963 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Levi Strauss & Co. by 25.6% during the first quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker’s stock valued at $1,984,000 after buying an additional 21,853 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Levi Strauss & Co. by 117.2% in the 1st quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker’s stock valued at $6,635,000 after buying an additional 193,607 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Levi Strauss & Co. by 7.5% in 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 buying an additional 114,749 shares during the last quarter. 69.14% of the stock is owned by institutional investors.

Levi Strauss & Co. Company 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.