Levi Strauss & Co. (NYSE:LEVI) Releases FY24 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.17-1.27 for the period, compared to the consensus estimate of $1.22. The company issued revenue guidance of $6.24-6.36 billion, compared to the consensus revenue estimate of $6.34 billion.

Levi Strauss & Co. Trading Down 0.4 %

Shares of LEVI stock traded down $0.08 during mid-day trading on Wednesday, reaching $18.66. 7,775,045 shares of the stock traded hands, compared to its average volume of 1,998,507. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.29 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.48 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $17.97 and its two-hundred day simple moving average is $15.96. Levi Strauss & Co. has a 1-year low of $12.41 and a 1-year high of $20.36.

Levi Strauss & Co. (NYSE:LEVI) last released its earnings results on Tuesday, January 23rd. The blue-jean maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Levi Strauss & Co. had a net margin of 4.04% and a return on equity of 22.33%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. Levi Strauss & Co.’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Levi Strauss & Co. will post 1.22 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 2.57%. Levi Strauss & Co.’s dividend payout ratio (DPR) is currently 76.19%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LEVI shares. JPMorgan Chase & Co. cut their target price on Levi Strauss & Co. from $16.00 to $15.00 and set a neutral rating on the stock in a research report on Friday, January 26th. UBS Group lifted their price objective on shares of Levi Strauss & Co. from $21.00 to $23.00 and gave the stock a buy rating in a report on Monday, January 29th. Wells Fargo & Company dropped their price target on shares of Levi Strauss & Co. from $18.00 to $17.00 and set an equal weight rating on the stock in a research report on Friday, January 26th. TheStreet upgraded shares of Levi Strauss & Co. from a c+ rating to a b- rating in a research note on Tuesday, February 13th. Finally, Telsey Advisory Group boosted their target price on Levi Strauss & Co. from $18.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Levi Strauss & Co. presently has a consensus rating of Moderate Buy and an average price target of $17.10.

Insiders Place Their Bets

In related news, EVP Tracy Layney sold 15,894 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $17.02, for a total transaction of $270,515.88. Following the sale, the executive vice president now directly owns 41,468 shares in the company, valued at approximately $705,785.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Margaret E. Haas sold 9,462 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $18.01, for a total value of $170,410.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy Layney sold 15,894 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $17.02, for a total value of $270,515.88. Following the completion of the sale, the executive vice president now directly owns 41,468 shares of the company’s stock, valued at approximately $705,785.36. The disclosure for this sale can be found here. Insiders sold 154,712 shares of company stock worth $2,965,985 over the last quarter. 3.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Levi Strauss & Co. by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,391,385 shares of the blue-jean maker’s stock valued at $138,794,000 after buying an additional 97,043 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Levi Strauss & Co. by 20.5% during the 1st quarter. Wellington Management Group LLP now owns 6,365,036 shares of the blue-jean maker’s stock worth $125,773,000 after acquiring an additional 1,084,969 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Levi Strauss & Co. by 11.7% during the 1st quarter. Macquarie Group Ltd. now owns 5,989,518 shares of the blue-jean maker’s stock valued at $109,189,000 after acquiring an additional 626,601 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Levi Strauss & Co. in the fourth quarter worth about $38,029,000. Finally, BlackRock Inc. grew its stake in shares of Levi Strauss & Co. by 4.5% during the 2nd quarter. BlackRock Inc. now owns 1,898,650 shares of the blue-jean maker’s stock valued at $27,398,000 after acquiring an additional 82,421 shares during the period. Institutional investors own 69.14% of the company’s stock.

About Levi Strauss & Co.

Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.