Levi Strauss & Co. (NYSE:LEVI – Get Rating)’s share price hit a new 52-week low during trading on Monday after Citigroup lowered their price target on the stock from $27.00 to $19.00. Citigroup currently has a buy rating on the stock. Levi Strauss & Co. traded as low as $13.67 and last traded at $13.67, with a volume of 69634 shares trading hands. The stock had previously closed at $14.07.
Other equities analysts have also issued research reports about the company. Telsey Advisory Group decreased their target price on Levi Strauss & Co. from $30.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley downgraded Levi Strauss & Co. from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a report on Thursday, August 4th. JPMorgan Chase & Co. increased their price objective on Levi Strauss & Co. from $20.00 to $23.00 in a report on Friday. Stifel Nicolaus decreased their price objective on Levi Strauss & Co. from $26.00 to $23.00 in a research report on Wednesday, July 20th. Finally, Guggenheim reduced their price target on Levi Strauss & Co. from $33.00 to $27.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.18.
Insider Activity at Levi Strauss & Co.
In other Levi Strauss & Co. news, EVP Seth Jaffe sold 11,276 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $14.95, for a total transaction of $168,576.20. Following the transaction, the executive vice president now owns 148,299 shares in the company, valued at $2,217,070.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.69% of the stock is owned by insiders.
Institutional Trading of Levi Strauss & Co.
A number of hedge funds and other institutional investors have recently modified their holdings of LEVI. Cambridge Trust Co. increased its position in shares of Levi Strauss & Co. by 387.5% during the first quarter. Cambridge Trust Co. now owns 2,072,760 shares of the blue-jean maker’s stock worth $40,958,000 after acquiring an additional 1,647,540 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Levi Strauss & Co. by 20.5% during the first quarter. Wellington Management Group LLP now owns 6,365,036 shares of the blue-jean maker’s stock worth $125,773,000 after buying an additional 1,084,969 shares during the period. Parnassus Investments LLC boosted its position in shares of Levi Strauss & Co. by 19.1% during the first quarter. Parnassus Investments LLC now owns 6,480,060 shares of the blue-jean maker’s stock worth $128,046,000 after buying an additional 1,039,754 shares during the period. Trillium Asset Management LLC lifted its position in Levi Strauss & Co. by 120.9% in the second quarter. Trillium Asset Management LLC now owns 834,904 shares of the blue-jean maker’s stock worth $13,627,000 after purchasing an additional 456,913 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new stake in Levi Strauss & Co. in the first quarter worth approximately $6,505,000. 17.81% of the stock is owned by hedge funds and other institutional investors.
Levi Strauss & Co. Price Performance
The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 2.31 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $17.96.
Levi Strauss & Co. (NYSE:LEVI – Get Rating) last released its earnings results on Thursday, October 6th. The blue-jean maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.60 billion. Levi Strauss & Co. had a return on equity of 36.68% and a net margin of 9.12%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, research analysts predict that Levi Strauss & Co. will post 1.47 earnings per share for the current fiscal year.
About Levi Strauss & Co.
Levi Strauss & Co operates as an apparel company. The company designs, markets, and sells jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jackets, footwear, and related accessories for men, women, and children in the Americas, Europe, and Asia. It also sells its products under the Levi’s, Dockers, Signature by Levi Strauss & Co, and Denizen brands.
