703,396 Shares in Levi Strauss & Co. $LEVI Purchased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC announced a $10.97 million investment in Levi Strauss & Co., acquiring 703,396 shares and representing 0.18% of the company's total shares at the end of the reporting period.
• Levi Strauss & Co. reported earnings of $0.22 per share, exceeding analysts' expectations by $0.09, and its quarterly revenue increased by 6.4% year over year.
• The company recently raised its quarterly dividend to $0.14 per share, reflecting a 2.6% yield, and analysts have set a consensus price target of $23.45 for its stock.

MetLife Investment Management LLC bought a new stake in Levi Strauss & Co. (NYSE:LEVI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 703,396 shares of the blue-jean maker's stock, valued at approximately $10,966,000. MetLife Investment Management LLC owned approximately 0.18% of Levi Strauss & Co. at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in shares of Levi Strauss & Co. by 53.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,916,568 shares of the blue-jean maker's stock worth $33,157,000 after buying an additional 669,624 shares in the last quarter. Millennium Management LLC lifted its stake in Levi Strauss & Co. by 560.0% in the fourth quarter. Millennium Management LLC now owns 1,883,995 shares of the blue-jean maker's stock valued at $32,593,000 after buying an additional 1,598,523 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Levi Strauss & Co. by 6.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,639,565 shares of the blue-jean maker's stock valued at $26,856,000 after buying an additional 97,781 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Levi Strauss & Co. by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,341,317 shares of the blue-jean maker's stock valued at $23,205,000 after buying an additional 137,933 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Levi Strauss & Co. in the first quarter valued at approximately $19,779,000. 69.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEVI has been the topic of a number of recent research reports. Citigroup boosted their target price on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company boosted their target price on Levi Strauss & Co. from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Bank of America upped their price objective on Levi Strauss & Co. from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Barclays reaffirmed an "overweight" rating and set a $24.00 price objective (up previously from $20.00) on shares of Levi Strauss & Co. in a report on Monday, July 14th. Finally, Stifel Nicolaus upped their price objective on Levi Strauss & Co. from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.45.

Levi Strauss & Co. Price Performance

Levi Strauss & Co. stock traded up $0.12 during trading hours on Friday, hitting $22.38. The stock had a trading volume of 2,831,828 shares, compared to its average volume of 1,997,213. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.80 and a beta of 1.21. Levi Strauss & Co. has a 1-year low of $12.17 and a 1-year high of $22.61. The stock's fifty day moving average is $20.29 and its two-hundred day moving average is $17.86.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. Levi Strauss & Co. had a return on equity of 28.75% and a net margin of 6.40%.The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business earned $0.16 earnings per share. The business's revenue was up 6.4% on a year-over-year basis. As a group, analysts predict that Levi Strauss & Co. will post 1.27 earnings per share for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 24th were given 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 was Thursday, July 24th. Levi Strauss & Co.'s dividend payout ratio (DPR) is currently 54.90%.

Levi Strauss & Co. 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.