Bank of New York Mellon Corp Buys 3,979,223 Shares of Levi Strauss & Co. $LEVI

Key Points

• Bank of New York Mellon sharply increased its Levi Strauss stake in Q1, buying 3,979,223 additional shares and lifting its holdings to 4,839,861 shares worth about $89.5 million.
• Levi Strauss reported better-than-expected quarterly results, with EPS of $0.28 versus the $0.24 estimate and revenue of $1.56 billion, up 8% year over year. The company also raised its quarterly dividend to $0.16 per share.
• Analysts remain constructive on the stock, with 12 Buy ratings and 3 Hold ratings; the consensus target price is $27.46, and several firms recently raised their price targets.

Bank of New York Mellon Corp increased its stake in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 462.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,839,861 shares of the blue-jean maker's stock after acquiring an additional 3,979,223 shares during the period. Bank of New York Mellon Corp owned 1.26% of Levi Strauss & Co. worth $89,489,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LEVI. AMF Tjanstepension AB bought a new position in shares of Levi Strauss & Co. in the 1st quarter valued at approximately $3,181,000. Fifth Third Bancorp boosted its position in Levi Strauss & Co. by 212,880.0% during the first quarter. Fifth Third Bancorp now owns 10,649 shares of the blue-jean maker's stock worth $197,000 after purchasing an additional 10,644 shares during the period. R Squared Ltd bought a new stake in Levi Strauss & Co. during the first quarter worth approximately $201,000. Swedbank AB acquired a new position in Levi Strauss & Co. during the first quarter valued at approximately $24,799,000. Finally, Capricorn Fund Managers Ltd acquired a new position in Levi Strauss & Co. during the first quarter valued at approximately $3,051,000. Institutional investors and hedge funds own 69.14% of the company's stock.

Insider Activity at Levi Strauss & Co.

In related news, EVP Karyn Hillman sold 38,938 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $22.91, for a total value of $892,069.58. Following the completion of the sale, the executive vice president owned 91,522 shares in the company, valued at approximately $2,096,769.02. This trade represents a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Margaret E. Haas sold 47,721 shares of Levi Strauss & Co. stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.01, for a total value of $1,145,781.21. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,236,803 shares of company stock worth $28,742,192. 1.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LEVI shares. Citigroup boosted their price objective on shares of Levi Strauss & Co. from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, June 29th. Telsey Advisory Group raised their target price on shares of Levi Strauss & Co. from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. TD Cowen reiterated a "buy" rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Barclays boosted their target price on shares of Levi Strauss & Co. from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Finally, UBS Group restated a "buy" rating and set a $34.00 price target on shares of Levi Strauss & Co. in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.46.

Levi Strauss & Co. Stock Up 2.9%

LEVI opened at $24.61 on Wednesday. Levi Strauss & Co. has a 1-year low of $17.72 and a 1-year high of $25.58. 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 stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.58 and a beta of 1.33. The business has a 50 day moving average of $23.39 and a 200-day moving average of $21.81.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 8th. The blue-jean maker reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Levi Strauss & Co. had a net margin of 9.66% and a return on equity of 25.79%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company posted $0.22 earnings per share. Levi Strauss & Co.'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, sell-side analysts anticipate that Levi Strauss & Co. will post 1.54 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd will be given a $0.16 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $0.64 annualized dividend and a yield of 2.6%. This is a positive change from Levi Strauss & Co.'s previous quarterly dividend of $0.14. Levi Strauss & Co.'s dividend payout ratio (DPR) is 39.51%.

Levi Strauss & Co. Company 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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