Levi Strauss & Co. $LEVI Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management trimmed its Levi Strauss stake by 3.7% in the fourth quarter, selling 44,966 shares and ending with 1,184,847 shares worth about $24.6 million.
• Levi Strauss reported strong quarterly results, posting EPS of $0.42 versus the $0.37 estimate and revenue of $1.74 billion versus $1.65 billion expected, with revenue up 14.1% year over year.
• The company also paid a quarterly dividend of $0.14 per share, and Wall Street remains broadly positive, with 12 analysts rating the stock a Buy and an average target price of $26.69.

Fisher Asset Management LLC trimmed its holdings in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,184,847 shares of the blue-jean maker's stock after selling 44,966 shares during the period. Fisher Asset Management LLC owned approximately 0.30% of Levi Strauss & Co. worth $24,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LEVI. Envestnet Asset Management Inc. increased its holdings in shares of Levi Strauss & Co. by 2,268.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 238,883 shares of the blue-jean maker's stock valued at $5,566,000 after purchasing an additional 228,796 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Levi Strauss & Co. during the 3rd quarter valued at approximately $2,478,000. Vanguard Group Inc. increased its holdings in shares of Levi Strauss & Co. by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,978,738 shares of the blue-jean maker's stock valued at $209,205,000 after purchasing an additional 277,835 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Levi Strauss & Co. by 46.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 238,828 shares of the blue-jean maker's stock valued at $5,565,000 after purchasing an additional 75,623 shares in the last quarter. Finally, GW&K Investment Management LLC purchased a new position in shares of Levi Strauss & Co. during the 3rd quarter valued at approximately $39,322,000. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Levi Strauss & Co. Price Performance

Shares of NYSE LEVI opened at $23.02 on Wednesday. The firm has a market cap of $8.85 billion, a PE ratio of 14.66, a PEG ratio of 1.66 and a beta of 1.35. The firm has a fifty day moving average of $20.99 and a 200 day moving average of $21.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. Levi Strauss & Co. has a one year low of $16.50 and a one year high of $24.82.

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 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The firm's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, research analysts predict that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.'s payout ratio is presently 35.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LEVI shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $27.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Jefferies Financial Group started coverage on shares of Levi Strauss & Co. in a report on Wednesday, February 4th. They set a "buy" rating and a $25.00 target price for the company. BTIG Research reaffirmed a "buy" rating and set a $27.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $25.00 target price on shares of Levi Strauss & Co. in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.69.

Insider Buying and Selling

In other news, EVP Harmit J. Singh sold 121,767 shares of the company's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $23.52, for a total transaction of $2,863,959.84. Following the completion of the sale, the executive vice president owned 148,757 shares of the company's stock, valued at $3,498,764.64. This represents a 45.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karyn Hillman sold 38,938 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $22.91, for a total transaction of $892,069.58. Following the sale, the executive vice president directly owned 91,522 shares of the company's stock, valued at $2,096,769.02. The trade was a 29.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 578,254 shares of company stock valued at $12,966,873. 1.08% of the stock is owned by corporate insiders.

Levi Strauss & Co. 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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