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 position in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other institutional investors have also recently made changes to their positions in LEVI. Millennium Management LLC lifted its position in shares of Levi Strauss & Co. by 560.0% during the fourth quarter. Millennium Management LLC now owns 1,883,995 shares of the blue-jean maker's stock worth $32,593,000 after acquiring an additional 1,598,523 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Levi Strauss & Co. during the first quarter worth $19,779,000. Fund 1 Investments LLC purchased a new stake in shares of Levi Strauss & Co. during the fourth quarter worth $11,869,000. The Manufacturers Life Insurance Company lifted 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 acquiring an additional 669,624 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Levi Strauss & Co. by 5,864.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 508,146 shares of the blue-jean maker's stock valued at $8,791,000 after purchasing an additional 499,627 shares during the period. Hedge funds and other institutional investors own 69.14% of the company's stock.

Levi Strauss & Co. Trading Up 0.4%

Shares of LEVI traded up $0.10 during trading hours on Thursday, reaching $22.26. 1,497,681 shares of the company traded hands, compared to its average volume of 2,031,315. Levi Strauss & Co. has a 12 month low of $12.17 and a 12 month high of $22.36. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.49. The company's fifty day moving average price is $20.19 and its two-hundred day moving average price is $17.82. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.79 and a beta of 1.21.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Levi Strauss & Co.'s quarterly revenue was up 6.4% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 24th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, July 24th. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 2.5%. Levi Strauss & Co.'s payout ratio is presently 54.90%.

Wall Street Analyst Weigh In

Several brokerages have commented on LEVI. UBS Group raised their price target on shares of Levi Strauss & Co. from $20.00 to $28.00 and gave the company a "buy" rating in a report on Friday, July 18th. Bank of America raised their price target on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a report on Friday, July 11th. Telsey Advisory Group raised their price target on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, July 11th. Stifel Nicolaus raised their price target on shares of Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Barclays reissued an "overweight" rating and issued a $24.00 price target (up from $20.00) on shares of Levi Strauss & Co. in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Levi Strauss & Co. has an average rating of "Moderate Buy" and an average target price of $23.45.

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.