Robert Haas Sells 176,549 Shares of Levi Strauss & Co. (NYSE:LEVI) Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 176,549 shares of Levi Strauss & Co. stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.01, for a total value of $3,885,843.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Stock Up 1.5%

Shares of LEVI opened at $23.40 on Thursday. The company has a market capitalization of $9.00 billion, a PE ratio of 14.90, a PEG ratio of 1.74 and a beta of 1.35. Levi Strauss & Co. has a 12 month low of $16.50 and a 12 month high of $24.82. The stock’s 50-day moving average price is $21.09 and its two-hundred day moving average price is $21.14. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Levi Strauss & Co. (NYSE:LEVI) last announced its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $0.56 annualized dividend and a yield of 2.4%. Levi Strauss & Co.’s payout ratio is presently 35.67%.

Analyst Ratings Changes

Several research analysts have commented on LEVI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Raymond James Financial reissued an “outperform” rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a research report on Monday, May 4th. Weiss Ratings raised Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Jefferies Financial Group initiated coverage on Levi Strauss & Co. in a research report on Wednesday, February 4th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, UBS Group lifted their price objective on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in Levi Strauss & Co. by 2,268.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 238,883 shares of the blue-jean maker’s stock valued at $5,566,000 after buying an additional 228,796 shares in the last quarter. Truist Financial Corp bought a new stake in Levi Strauss & Co. in the 3rd quarter valued at about $2,478,000. Vanguard Group Inc. increased its position in Levi Strauss & Co. by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,978,738 shares of the blue-jean maker’s stock valued at $209,205,000 after buying an additional 277,835 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Levi Strauss & Co. by 46.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 238,828 shares of the blue-jean maker’s stock valued at $5,565,000 after buying an additional 75,623 shares in the last quarter. Finally, GW&K Investment Management LLC bought a new stake in Levi Strauss & Co. during the 3rd quarter worth approximately $39,322,000. 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.