Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Robert Haas Sells 31,000 Shares

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 31,000 shares of Levi Strauss & Co. stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $22.00, for a total value of $682,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large 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. Stock Performance

Shares of LEVI traded up $0.75 during midday trading on Tuesday, reaching $22.77. 958,981 shares of the stock were exchanged, compared to its average volume of 2,706,583. The business’s 50-day moving average price is $20.89 and its 200 day moving average price is $21.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.58 and a quick ratio of 0.97. Levi Strauss & Co. has a twelve month low of $16.50 and a twelve month high of $24.82. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.66 and a beta of 1.35.

Levi Strauss & Co. (NYSE:LEVI) last posted its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, sell-side analysts expect that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

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

Hedge Funds Weigh In On Levi Strauss & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEVI. AQR Capital Management LLC increased its position in Levi Strauss & Co. by 181.6% during the 1st quarter. AQR Capital Management LLC now owns 151,645 shares of the blue-jean maker’s stock worth $2,364,000 after purchasing an additional 97,800 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Levi Strauss & Co. during the 1st quarter worth approximately $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 1,879 shares during the period. Caxton Associates LLP acquired a new position in Levi Strauss & Co. during the 1st quarter worth approximately $241,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Levi Strauss & Co. by 3.4% during 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 worth $24,908,000 after purchasing an additional 52,332 shares during the period. Institutional investors and hedge funds own 69.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LEVI. UBS Group boosted their price target on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Raymond James Financial restated an “outperform” rating and issued a $25.00 price target on shares of Levi Strauss & Co. in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 11th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company 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.