Capricorn Fund Managers Ltd Acquires New Holdings in Levi Strauss & Co. $LEVI

Key Points

• Capricorn Fund Managers Ltd initiated a new position in Levi Strauss during the first quarter, buying 165,000 shares valued at about $3.05 million.
• Several insiders sold shares recently, including major shareholder Robert D. Haas and EVP Harmit J. Singh; insider selling totaled 1.47 million shares worth about $34.1 million last quarter.
• Levi Strauss reported better-than-expected quarterly results, with EPS of $0.42 versus estimates of $0.37 and revenue up 14.1% year over year, while analysts currently rate the stock a Moderate Buy with an average target price of $26.93.

Capricorn Fund Managers Ltd bought a new stake in Levi Strauss & Co. (NYSE:LEVI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 165,000 shares of the blue-jean maker's stock, valued at approximately $3,051,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEVI. Measured Wealth Private Client Group LLC bought a new stake in Levi Strauss & Co. during the 4th quarter worth $26,000. US Bancorp DE grew its holdings 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 purchasing an additional 810 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Levi Strauss & Co. by 140.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock valued at $26,000 after buying an additional 833 shares during the period. Kestra Advisory Services LLC bought a new position in Levi Strauss & Co. in the 4th quarter valued at approximately $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $51,000 after buying an additional 1,879 shares during the last quarter. Institutional investors own 69.14% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Robert D. Haas sold 488,851 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.11, for a total value of $11,786,197.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harmit J. Singh sold 121,767 shares of the company's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $23.52, for a total transaction of $2,863,959.84. Following the transaction, the executive vice president owned 148,757 shares in the company, valued at approximately $3,498,764.64. The trade was a 45.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,468,570 shares of company stock worth $34,136,152 over the last quarter. Corporate insiders own 1.08% of the company's stock.

Wall Street Analyst Weigh In

LEVI has been the topic of a number of research reports. Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Telsey Advisory Group reiterated an "outperform" rating and set a $27.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. TD Cowen reissued a "buy" rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 11th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.93.

Levi Strauss & Co. Trading Up 1.6%

LEVI opened at $24.88 on Wednesday. The company has a fifty day moving average price of $22.85 and a two-hundred day moving average price of $21.50. Levi Strauss & Co. has a 1-year low of $17.72 and a 1-year high of $24.96. The company has a market cap of $9.57 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.34. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.05. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $0.38 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. Analysts predict that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.'s dividend payout ratio is presently 35.67%.

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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