Insider Selling: Levi Strauss & Co. (NYSE:LEVI) EVP Sells 110,000 Shares of Stock

Levi Strauss & Co. (NYSE:LEVI) EVP Harmit Singh sold 110,000 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $23.00, for a total value of $2,530,000.00. Following the sale, the executive vice president owned 270,514 shares in the company, valued at approximately $6,221,822. The trade was a 28.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Levi Strauss & Co. Trading Down 2.4%

NYSE LEVI traded down $0.57 on Wednesday, hitting $22.79. 2,241,655 shares of the company were exchanged, compared to its average volume of 2,677,836. The company’s 50 day moving average price is $20.51 and its 200-day moving average price is $21.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market capitalization of $8.76 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.34. Levi Strauss & Co. has a twelve month low of $15.32 and a twelve month high of $24.82.

Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (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 revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Analysts predict that Levi Strauss & Co. will post 1.5 earnings per share for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, April 22nd. Levi Strauss & Co.’s payout ratio is presently 35.67%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LEVI shares. Wall Street Zen upgraded Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. Weiss Ratings cut Levi Strauss & Co. from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Finally, UBS Group lifted their target price on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Levi Strauss & Co. has an average rating of “Moderate Buy” and an average price target of $26.77.

Hedge Funds Weigh In On Levi Strauss & Co.

Several institutional investors and hedge funds have recently bought and sold shares of LEVI. Balyasny Asset Management L.P. grew its stake in Levi Strauss & Co. by 123,970.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,163,649 shares of the blue-jean maker’s stock valued at $58,496,000 after acquiring an additional 3,166,203 shares in the last quarter. GW&K Investment Management LLC purchased a new position in Levi Strauss & Co. during the 3rd quarter valued at about $39,322,000. Goldman Sachs Group Inc. grew its stake in Levi Strauss & Co. by 44.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,243,680 shares of the blue-jean maker’s stock valued at $88,014,000 after acquiring an additional 1,296,474 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in shares of Levi Strauss & Co. in the 3rd quarter valued at approximately $21,052,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Levi Strauss & Co. by 83.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker’s stock valued at $36,208,000 after buying an additional 890,752 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

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.