Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Robert Haas Sells 31,000 Shares of Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 31,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $22.00, for a total transaction of $682,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Levi Strauss & Co. Stock Up 4.5%

Shares of LEVI stock opened at $23.02 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. The firm’s 50-day moving average is $20.99 and its 200-day moving average is $21.11. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.66 and a beta of 1.35. Levi Strauss & Co. has a 52-week low of $16.50 and a 52-week high of $24.82.

Levi Strauss & Co. (NYSE:LEVI) last issued 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 for the quarter, compared to analysts’ expectations of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. Levi Strauss & Co.’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on LEVI shares. Weiss Ratings raised shares of Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. BTIG Research reissued a “buy” rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. UBS Group increased their price target on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $25.00 price target on shares of Levi Strauss & Co. in a report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in shares of Levi Strauss & Co. by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 132,304 shares of the blue-jean maker’s stock worth $2,744,000 after purchasing an additional 465 shares in the last quarter. Figure 8 Investment Strategies LLC boosted its position in shares of Levi Strauss & Co. by 1.2% during the 4th quarter. Figure 8 Investment Strategies LLC now owns 50,939 shares of the blue-jean maker’s stock worth $1,056,000 after acquiring an additional 583 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Levi Strauss & Co. by 10.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 6,553 shares of the blue-jean maker’s stock worth $151,000 after acquiring an additional 614 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Levi Strauss & Co. by 2.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,732 shares of the blue-jean maker’s stock worth $575,000 after acquiring an additional 638 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Levi Strauss & Co. by 260.5% during the 3rd 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. Institutional investors and hedge funds 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.