Eastern Bank Takes $60.85 Million Position in Levi Strauss & Co. $LEVI

Key Points

• Eastern Bank acquired 2.45 million Levi Strauss shares worth approximately $60.85 million, representing a 0.64% stake. Institutional investors collectively own 69.14% of the company.
• Analysts remain generally positive, with 12 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $27.29, above the reported $24.62 share price.
• Levi Strauss exceeded quarterly expectations, reporting $0.28 EPS and $1.56 billion in revenue, while revenue grew 8% year over year. The company also raised its quarterly dividend from $0.14 to $0.16 per share.

Eastern Bank bought a new stake in Levi Strauss & Co. (NYSE:LEVI - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,450,806 shares of the blue-jean maker's stock, valued at approximately $60,854,000. Eastern Bank owned 0.64% of Levi Strauss & Co. at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. US Bancorp DE increased its holdings in Levi Strauss & Co. by 260.5% during the 3rd 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 in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Levi Strauss & Co. during the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its holdings in Levi Strauss & Co. by 140.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock worth $26,000 after buying an additional 833 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Levi Strauss & Co. during the 4th quarter worth about $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 1,879 shares during the last quarter. Institutional investors own 69.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LEVI shares. JPMorgan Chase & Co. increased their price objective on shares of Levi Strauss & Co. from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. Telsey Advisory Group upped their price target on shares of Levi Strauss & Co. from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a research note on Tuesday, July 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Levi Strauss & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $27.29.

Insider Buying and Selling at Levi Strauss & Co.

In other Levi Strauss & Co. news, EVP Harmit J. Singh sold 98,144 shares of the business's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $24.22, for a total transaction of $2,377,047.68. Following the completion of the sale, the executive vice president directly owned 98,747 shares of the company's stock, valued at approximately $2,391,652.34. The trade was a 49.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Robert D. Haas sold 488,851 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $24.11, for a total value of $11,786,197.61. 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 sold 1,334,947 shares of company stock worth $31,119,240. 1.08% of the stock is owned by company insiders.

Levi Strauss & Co. Stock Performance

LEVI stock opened at $24.62 on Tuesday. The firm has a market cap of $9.48 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. The stock has a 50-day moving average price of $24.00 and a 200-day moving average price of $22.02. The company has a current ratio of 1.60, a quick ratio of 0.98 and a debt-to-equity ratio of 0.46. Levi Strauss & Co. has a 1-year low of $17.72 and a 1-year high of $25.70.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 8th. The blue-jean maker reported $0.28 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. Levi Strauss & Co. has set its FY 2026 guidance at 1.460-1.520 EPS. As a group, equities research analysts expect that Levi Strauss & Co. will post 1.54 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

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

About Levi Strauss & Co.

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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