Graham Capital Management L.P. Cuts Stock Position in Levi Strauss & Co. $LEVI

Key Points

• Graham Capital Management L.P. has significantly reduced its stake in Levi Strauss & Co. by 58.1%, selling 157,537 shares and currently holding 113,474 shares valued at approximately $1.77 million.
• Several institutional investors have increased their stakes in Levi Strauss & Co., with Golden State Wealth Management LLC reporting a 101.5% increase in its holdings during the first quarter.
• Levi Strauss & Co. has received upgraded price targets from multiple analysts, with recommendations ranging from "buy" to "outperform," reflecting a positive consensus among market experts regarding the company’s growth potential.

Graham Capital Management L.P. decreased its position in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 58.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,474 shares of the blue-jean maker's stock after selling 157,537 shares during the quarter. Graham Capital Management L.P.'s holdings in Levi Strauss & Co. were worth $1,769,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LEVI. Golden State Wealth Management LLC lifted its holdings in shares of Levi Strauss & Co. by 101.5% in the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock worth $34,000 after buying an additional 1,113 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Levi Strauss & Co. in the first quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Levi Strauss & Co. by 35.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after buying an additional 812 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Levi Strauss & Co. in the fourth quarter worth $57,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Levi Strauss & Co. in the first quarter worth $81,000. Hedge funds and other institutional investors own 69.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LEVI. JPMorgan Chase & Co. boosted their target price on shares of Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. UBS Group boosted their target price on shares of Levi Strauss & Co. from $20.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Citigroup boosted their target price on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Telsey Advisory Group boosted their target price on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Barclays reaffirmed an "overweight" rating and set a $24.00 price target (up previously from $20.00) on shares of Levi Strauss & Co. in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.45.

Levi Strauss & Co. Price Performance

Shares of NYSE:LEVI traded down $0.30 on Friday, reaching $22.25. The company's stock had a trading volume of 1,570,953 shares, compared to its average volume of 1,826,059. Levi Strauss & Co. has a 52-week low of $12.17 and a 52-week high of $22.83. The company has a market cap of $8.80 billion, a P/E ratio of 21.81, a PEG ratio of 1.79 and a beta of 1.25. The company has a 50-day simple moving average of $20.70 and a 200 day simple moving average of $18.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.48.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 24th were paid a $0.14 dividend. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 24th. Levi Strauss & Co.'s payout ratio is currently 54.90%.

Levi Strauss & Co. Company Profile

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.