Mackenzie Financial Corp Reduces Stake in Levi Strauss & Co. (NYSE:LEVI)

Mackenzie Financial Corp lowered its stake in Levi Strauss & Co. (NYSE:LEVI - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,551 shares of the blue-jean maker's stock after selling 30,728 shares during the quarter. Mackenzie Financial Corp's holdings in Levi Strauss & Co. were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. 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 bought a new stake in Levi Strauss & Co. during the 1st quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Levi Strauss & Co. by 35.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after purchasing an additional 812 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Levi Strauss & Co. in the 4th quarter valued at $57,000. Finally, Deutsche Bank AG boosted its holdings in Levi Strauss & Co. by 67.5% in the 4th quarter. Deutsche Bank AG now owns 6,090 shares of the blue-jean maker's stock valued at $105,000 after purchasing an additional 2,454 shares during the period. Hedge funds and other institutional investors own 69.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group increased their price objective on Levi Strauss & Co. from $21.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their target price on Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. UBS Group lifted their price target on Levi Strauss & Co. from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Bank of America upped their price objective on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley raised their target price on shares of Levi Strauss & Co. from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.45.

Levi Strauss & Co. Stock Performance

NYSE:LEVI opened at $20.12 on Friday. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.64 and a beta of 1.21. The business has a 50 day moving average of $19.06 and a 200 day moving average of $17.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85. Levi Strauss & Co. has a 1-year low of $12.17 and a 1-year high of $22.35.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 EPS for the quarter, topping 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 firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm posted $0.16 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Levi Strauss & Co. will post 1.27 earnings per share for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 24th will be paid a $0.14 dividend. This is a boost from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, July 24th. Levi Strauss & Co.'s payout ratio is presently 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.

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