Citigroup Forecasts Strong Price Appreciation for Levi Strauss & Co. (NYSE:LEVI) Stock

Levi Strauss & Co. (NYSE:LEVI - Free Report) had its price objective increased by Citigroup from $19.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. Citigroup currently has a neutral rating on the blue-jean maker's stock.

Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday. Barclays lifted their price target on shares of Levi Strauss & Co. from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Stifel Nicolaus lifted their price target on shares of Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Levi Strauss & Co. from $18.00 to $23.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Levi Strauss & Co. presently has an average rating of "Moderate Buy" and an average price target of $23.18.

Levi Strauss & Co. Trading Down 2.7%

NYSE LEVI traded down $0.59 during mid-day trading on Friday, reaching $21.36. 4,807,429 shares of the stock were exchanged, compared to its average volume of 2,217,069. Levi Strauss & Co. has a one year low of $12.17 and a one year high of $22.35. The stock has a 50 day simple moving average of $17.90 and a 200-day simple moving average of $17.15. The stock has a market cap of $8.46 billion, a P/E ratio of 20.94, a P/E/G ratio of 1.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $0.16 earnings per share. Levi Strauss & Co.'s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that Levi Strauss & Co. will post 1.27 EPS for the current year.

Levi Strauss & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.62%. Levi Strauss & Co.'s payout ratio is presently 50.98%.

Institutional Investors Weigh In On Levi Strauss & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC increased its position in shares of Levi Strauss & Co. by 101.5% during the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock worth $34,000 after acquiring an additional 1,113 shares in the last quarter. IFP Advisors Inc purchased a new position in Levi Strauss & Co. during the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Levi Strauss & Co. by 35.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after purchasing an additional 812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 1,879 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Levi Strauss & Co. during the fourth quarter worth about $57,000. 69.14% of the stock is owned by institutional investors.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.