Eastern Bank Makes New $60.85 Million Investment in Levi Strauss & Co. $LEVI

Eastern Bank bought a new stake in Levi Strauss & Co. (NYSE:LEVI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,450,806 shares of the blue-jean maker’s stock, valued at approximately $60,854,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LEVI. Amundi increased its stake in shares of Levi Strauss & Co. by 73.3% during the 1st quarter. Amundi now owns 18,828 shares of the blue-jean maker’s stock worth $348,000 after purchasing an additional 7,963 shares during the last quarter. California State Teachers Retirement System boosted its stake in Levi Strauss & Co. by 25.6% during the first quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker’s stock valued at $1,984,000 after buying an additional 21,853 shares during the period. Royal Bank of Canada grew its position in Levi Strauss & Co. by 117.2% during the first quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker’s stock worth $6,635,000 after buying an additional 193,607 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Levi Strauss & Co. by 7.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,636,734 shares of the blue-jean maker’s stock worth $30,263,000 after acquiring an additional 114,749 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Levi Strauss & Co. by 66.0% in the first quarter. Lazard Asset Management LLC now owns 16,271 shares of the blue-jean maker’s stock worth $301,000 after purchasing an additional 6,472 shares during the last quarter. 69.14% of the stock is owned by institutional investors.

Levi Strauss & Co. Price Performance

Shares of Levi Strauss & Co. stock opened at $24.62 on Tuesday. The business’s 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $22.02. Levi Strauss & Co. has a one year low of $17.72 and a one year high of $25.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.60 and a quick ratio of 0.98. The stock has a market capitalization of $9.48 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33.

Levi Strauss & Co. (NYSE:LEVI) last announced its quarterly earnings results on Wednesday, July 8th. The blue-jean maker reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Levi Strauss & Co. had a net margin of 9.66% and a return on equity of 25.79%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 EPS. Levi Strauss & Co. has set its FY 2026 guidance at 1.460-1.520 EPS. Analysts forecast that Levi Strauss & Co. will post 1.54 EPS for the current year.

Levi Strauss & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $0.16 per share. This is a boost from Levi Strauss & Co.’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, July 22nd. Levi Strauss & Co.’s dividend payout ratio is currently 39.51%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LEVI. Barclays increased their price target on shares of Levi Strauss & Co. from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a report on Thursday, July 9th. Raymond James Financial upped their target price on shares of Levi Strauss & Co. from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Citigroup increased their target price on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, June 29th. 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 analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.29.

Insiders Place Their Bets

In other news, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.01, for a total value of $3,497,344.62. Following the completion of the sale, the insider directly owned 145,662 shares of the company’s stock, valued at approximately $3,497,344.62. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Robert D. Haas sold 488,851 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.11, for a total transaction of $11,786,197.61. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,334,947 shares of company stock worth $31,119,240. Company insiders own 1.08% of the company’s stock.

Levi Strauss & Co. 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.