Landscape Capital Management L.L.C. Sells 105,359 Shares of Levi Strauss & Co. $LEVI

Key Points

• Landscape Capital Management cut its Levi Strauss stake by 58.7% in the fourth quarter, selling 105,359 shares and leaving it with 74,019 shares worth about $1.54 million.
• Levi Strauss reported better-than-expected quarterly results, with EPS of $0.42 versus $0.37 expected and revenue of $1.74 billion, up 14.1% from a year earlier.
• The company also paid a quarterly dividend of $0.14 per share and received generally positive analyst commentary, with a consensus rating of “Moderate Buy” and an average price target of $26.79.

Landscape Capital Management L.L.C. reduced its stake in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,019 shares of the blue-jean maker's stock after selling 105,359 shares during the period. Landscape Capital Management L.L.C.'s holdings in Levi Strauss & Co. were worth $1,535,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LEVI. Balyasny Asset Management L.P. increased its stake in shares of Levi Strauss & Co. by 123,970.4% in the second quarter. Balyasny Asset Management L.P. now owns 3,163,649 shares of the blue-jean maker's stock worth $58,496,000 after purchasing an additional 3,166,203 shares during the period. GW&K Investment Management LLC bought a new position in shares of Levi Strauss & Co. in the third quarter worth about $39,322,000. Goldman Sachs Group Inc. increased its stake in shares of Levi Strauss & Co. by 44.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,243,680 shares of the blue-jean maker's stock worth $88,014,000 after purchasing an additional 1,296,474 shares during the period. Oberweis Asset Management Inc. bought a new position in shares of Levi Strauss & Co. in the third quarter worth about $21,052,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Levi Strauss & Co. by 83.4% in the second quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker's stock worth $36,208,000 after purchasing an additional 890,752 shares during the period. 69.14% of the stock is currently owned by institutional investors.

Levi Strauss & Co. Trading Up 0.1%

Shares of LEVI opened at $24.04 on Tuesday. Levi Strauss & Co. has a 12-month low of $16.95 and a 12-month high of $24.82. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.81 and a beta of 1.34. The stock's 50-day moving average price is $22.34 and its 200 day moving average price is $21.35.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Levi Strauss & Co. will post 1.5 earnings per share for the current year.

Levi Strauss & Co. Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Cowen reiterated a "buy" rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, May 27th. UBS Group lifted their price objective on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a research note on Monday, May 4th. Wall Street Zen upgraded Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research note on Saturday, April 11th. Finally, Weiss Ratings upgraded Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.79.

Insider Activity

In related news, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 145,662 shares in the company, valued at $3,497,344.62. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.11, for a total value of $11,786,197.61. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,468,570 shares of company stock valued at $34,136,152. Corporate insiders own 1.08% of the company's stock.

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.

Want to see what other hedge funds are holding LEVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Levi Strauss & Co. (NYSE:LEVI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.