Cinctive Capital Management LP Invests $3.10 Million in Levi Strauss & Co. $LEVI

Key Points

• Cinctive Capital Management LP acquired 199,073 shares of Levi Strauss & Co., valued at approximately $3,104,000, establishing a new position in the company.
• Levi Strauss & Co. reported $0.22 earnings per share for the latest quarter, exceeding analysts’ expectations and demonstrated a 6.4% revenue increase year-over-year.
• Recent analyst upgrades increased the target stock price for Levi Strauss & Co., with several firms adjusting their ratings to "buy" or "overweight".

Cinctive Capital Management LP bought a new stake in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 199,073 shares of the blue-jean maker's stock, valued at approximately $3,104,000. Cinctive Capital Management LP owned about 0.05% of Levi Strauss & Co. as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LEVI. Golden State Wealth Management LLC boosted its stake in shares of Levi Strauss & Co. by 101.5% during the 1st quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock valued at $34,000 after purchasing an additional 1,113 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Levi Strauss & Co. during the first quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Levi Strauss & Co. by 35.4% in the 1st 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 in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Levi Strauss & Co. in the fourth quarter worth approximately $57,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Levi Strauss & Co. during the first quarter worth $81,000. Institutional investors own 69.14% of the company's stock.

Levi Strauss & Co. Stock Down 0.5%

NYSE LEVI traded down $0.11 during trading on Wednesday, reaching $21.59. 330,817 shares of the company's stock traded hands, compared to its average volume of 2,458,532. Levi Strauss & Co. has a 12-month low of $12.17 and a 12-month high of $22.83. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85. The company's 50 day simple moving average is $20.83 and its two-hundred day simple moving average is $18.05.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the business earned $0.16 EPS. The company's revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 24th were issued a $0.14 dividend. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 24th. Levi Strauss & Co.'s payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America increased their price objective on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company increased their target price 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, July 11th. JPMorgan Chase & Co. increased their target price 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, July 11th. Stifel Nicolaus increased their target price 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, July 11th. Finally, UBS Group increased their target price on shares of Levi Strauss & Co. from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.45.

About Levi Strauss & Co.

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.