Bank of America Corp DE Sells 989,936 Shares of Levi Strauss & Co. $LEVI

Key Points

• Bank of America cut its Levi Strauss stake by 54.6% in the first quarter, selling 989,936 shares and retaining 823,858 shares valued at approximately $15.2 million. Institutional investors and hedge funds own 69.14% of the company.
• Levi Strauss insiders sold nearly 988,460 shares worth $23.5 million over the past 90 days, while corporate insiders own 1.08% of the stock.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $27.43 price target. The company also raised its quarterly dividend to $0.16 per share, equivalent to a 3.0% annualized yield.

Bank of America Corp DE reduced its holdings in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 54.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 823,858 shares of the blue-jean maker's stock after selling 989,936 shares during the quarter. Bank of America Corp DE owned 0.21% of Levi Strauss & Co. worth $15,233,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. US Bancorp DE grew its stake in shares of 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 buying an additional 810 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Levi Strauss & Co. in the 4th quarter valued at $26,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Levi Strauss & Co. by 140.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock valued at $26,000 after acquiring an additional 833 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Levi Strauss & Co. during the 4th quarter worth $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Levi Strauss & Co. by 133.5% in the 1st 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 in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Levi Strauss & Co. news, major shareholder Robert D. Haas sold 488,851 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was 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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the sale, the insider directly owned 145,662 shares of the company's stock, valued at approximately $3,497,344.62. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,460 shares of company stock valued at $23,546,327 in the last ninety days. 1.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LEVI has been the subject of several research reports. Citigroup increased their target price on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Monday, June 29th. Barclays upped their price objective on Levi Strauss & Co. from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Telsey Advisory Group lifted their target price on shares of Levi Strauss & Co. from $27.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, July 2nd. UBS Group restated a "buy" rating and issued a $34.00 price target on shares of Levi Strauss & Co. in a research report on Thursday, July 9th. Finally, TD Cowen reiterated a "buy" rating and set a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.43.

Levi Strauss & Co. Stock Performance

Shares of LEVI opened at $21.26 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm's fifty day simple moving average is $23.97 and its two-hundred day simple moving average is $22.19. Levi Strauss & Co. has a 12 month low of $17.72 and a 12 month high of $25.70. The stock has a market capitalization of $8.18 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.45 and a beta of 1.33.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 8th. The blue-jean maker reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Levi Strauss & Co. had a return on equity of 25.79% and a net margin of 9.66%.The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $0.22 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. Levi Strauss & Co. has set its FY 2026 guidance at 1.460-1.520 EPS. As a group, analysts predict that Levi Strauss & Co. will post 1.54 EPS for the current year.

Levi Strauss & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd were issued a $0.16 dividend. The ex-dividend date was Wednesday, July 22nd. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 3.0%. Levi Strauss & Co.'s dividend payout ratio is presently 39.51%.

Levi Strauss & Co. Profile

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.

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