Insider Selling: Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells $11,786,197.61 in Stock

Levi Strauss & Co. (NYSE:LEVI) major shareholder Robert Haas sold 488,851 shares of Levi Strauss & Co. stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $24.11, for a total transaction of $11,786,197.61. The transaction was disclosed in a legal 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. Large 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 Down 0.9%

LEVI opened at $24.02 on Friday. Levi Strauss & Co. has a fifty-two week low of $16.50 and a fifty-two week high of $24.82. 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 company has a fifty day moving average of $22.23 and a two-hundred day moving average of $21.33. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.81 and a beta of 1.34.

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

Levi Strauss & Co. Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of Levi Strauss & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Raymond James Financial reiterated an “outperform” rating and issued a $25.00 target price on shares of Levi Strauss & Co. in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a research report on Saturday, April 11th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.79.

Hedge Funds Weigh In On Levi Strauss & Co.

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE boosted its position in 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 during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Levi Strauss & Co. during the fourth quarter worth about $26,000. Northwestern Mutual Wealth Management Co. boosted its position in 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 during the last quarter. Kestra Advisory Services LLC acquired a new position in Levi Strauss & Co. during the fourth quarter worth about $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.