Robert Haas Sells 488,851 Shares of Levi Strauss & Co. (NYSE:LEVI) Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 488,851 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.11, for a total value of $11,786,197.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Levi Strauss & Co. Stock Performance

LEVI opened at $24.02 on Friday. The firm has a market cap of $9.24 billion, a PE ratio of 15.30, a P/E/G ratio of 1.83 and a beta of 1.34. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $22.23 and a 200-day simple moving average of $21.33. Levi Strauss & Co. has a fifty-two week low of $16.50 and a fifty-two week high of $24.82.

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

Levi Strauss & Co. Dividend Announcement

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

Institutional Trading of Levi Strauss & Co.

Several hedge funds and other institutional investors have recently modified their holdings of LEVI. Measured Wealth Private Client Group LLC purchased a new stake in shares of Levi Strauss & Co. during the fourth quarter worth $26,000. US Bancorp DE raised its holdings in shares of Levi Strauss & Co. by 260.5% during the third quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 810 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Levi Strauss & Co. by 140.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 833 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Levi Strauss & Co. during the fourth quarter worth $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Levi Strauss & Co. by 133.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock worth $51,000 after acquiring an additional 1,879 shares in the last quarter. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEVI has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Telsey Advisory Group restated an “outperform” rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Raymond James Financial restated an “outperform” rating and issued a $25.00 target price on shares of Levi Strauss & Co. in a report on Monday, May 4th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Finally, Weiss Ratings upgraded Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Levi Strauss & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

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.