Levi Strauss & Co. (NYSE:LEVI – Free Report) shares gapped down before the market opened on Friday after Bank of America lowered their price target on the stock from $16.00 to $14.00. The stock had previously closed at $14.23, but opened at $13.00. Levi Strauss & Co. shares last traded at $13.35, with a volume of 2,645,808 shares traded.
Several other equities analysts have also issued reports on LEVI. Wells Fargo & Company dropped their target price on shares of Levi Strauss & Co. from $18.00 to $15.00 in a report on Friday. Telsey Advisory Group reissued an “outperform” rating and issued a $24.00 price objective on shares of Levi Strauss & Co. in a research note on Thursday, March 30th. TheStreet lowered Levi Strauss & Co. from a “b-” rating to a “c” rating in a research report on Wednesday, April 26th. Guggenheim lowered their target price on Levi Strauss & Co. from $22.00 to $19.00 and set a “buy” rating for the company in a report on Monday, April 10th. Finally, Citigroup dropped their price target on Levi Strauss & Co. from $15.00 to $14.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Levi Strauss & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.09.
Insider Transactions at Levi Strauss & Co.
In other news, EVP Seth Jaffe sold 2,938 shares of Levi Strauss & Co. stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $13.45, for a total value of $39,516.10. Following the completion of the transaction, the executive vice president now owns 173,732 shares in the company, valued at $2,336,695.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.77% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Levi Strauss & Co.
A number of large investors have recently modified their holdings of the company. Raymond James & Associates raised its position in shares of Levi Strauss & Co. by 40.6% in the first quarter. Raymond James & Associates now owns 36,330 shares of the blue-jean maker’s stock worth $718,000 after buying an additional 10,498 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Levi Strauss & Co. by 7.4% in the 1st quarter. Bank of New York Mellon Corp now owns 438,865 shares of the blue-jean maker’s stock valued at $8,672,000 after acquiring an additional 30,089 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Levi Strauss & Co. by 37.9% in the 1st quarter. Citigroup Inc. now owns 79,770 shares of the blue-jean maker’s stock valued at $1,576,000 after acquiring an additional 21,916 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Levi Strauss & Co. by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 324,332 shares of the blue-jean maker’s stock valued at $6,413,000 after acquiring an additional 54,109 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Levi Strauss & Co. by 6.0% during the first quarter. Sei Investments Co. now owns 119,376 shares of the blue-jean maker’s stock worth $2,359,000 after purchasing an additional 6,771 shares in the last quarter. 19.23% of the stock is currently owned by institutional investors.
Levi Strauss & Co. Stock Down 6.7 %
The company has a debt-to-equity ratio of 0.51, a current ratio of 1.49 and a quick ratio of 0.74. The company has a fifty day moving average price of $14.04 and a 200 day moving average price of $15.73. The company has a market cap of $5.26 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 3.18 and a beta of 1.19.
Levi Strauss & Co. (NYSE:LEVI – Free Report) last posted its quarterly earnings data on Thursday, July 6th. The blue-jean maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Levi Strauss & Co. had a net margin of 7.79% and a return on equity of 29.59%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $0.29 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. As a group, analysts anticipate that Levi Strauss & Co. will post 1.29 EPS for the current year.
About Levi Strauss & Co.
Levi Strauss & Co engages in the design, marketing, and sale of apparels and related accessories for men, women, and children in the Americas, Europe, and Asia. It offers jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related products under the Levi’s, Dockers, Beyond Yoga, Signature by Levi Strauss & Co, and Denizen brands.