Millennium Management LLC Has $48.49 Million Holdings in Levi Strauss & Co. $LEVI

Key Points

• Millennium Management LLC increased its stake in Levi Strauss & Co. by 65.1%, acquiring over 1.2 million additional shares, bringing its total ownership to 3.11 million shares valued at approximately $48.5 million.
• Levi Strauss & Co. recently reported a quarterly earnings per share (EPS) of $0.22, significantly exceeding analyst expectations of $0.13, alongside a revenue increase to $1.45 billion.
• The company has increased its quarterly dividend from $0.13 to $0.14 per share, representing a 2.5% annual yield with a payout ratio of 54.90%.

Millennium Management LLC boosted its stake in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) by 65.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,110,200 shares of the blue-jean maker's stock after purchasing an additional 1,226,205 shares during the quarter. Millennium Management LLC owned about 0.79% of Levi Strauss & Co. worth $48,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. XTX Topco Ltd lifted its holdings in shares of Levi Strauss & Co. by 2.1% during the first quarter. XTX Topco Ltd now owns 32,839 shares of the blue-jean maker's stock worth $512,000 after buying an additional 670 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Levi Strauss & Co. by 35.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after buying an additional 812 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Levi Strauss & Co. by 101.5% during 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. Cetera Investment Advisers lifted its holdings in shares of Levi Strauss & Co. by 7.5% during the first quarter. Cetera Investment Advisers now owns 16,297 shares of the blue-jean maker's stock worth $254,000 after buying an additional 1,133 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Levi Strauss & Co. by 1.5% during the first quarter. KBC Group NV now owns 116,131 shares of the blue-jean maker's stock worth $1,810,000 after buying an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Barclays reaffirmed an "overweight" rating and issued a $24.00 price target (up previously from $20.00) on shares of Levi Strauss & Co. in a research note on Monday, July 14th. Wells Fargo & Company boosted their target price on Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Bank of America boosted their target price on Levi Strauss & Co. from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Telsey Advisory Group boosted their target price on Levi Strauss & Co. from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Levi Strauss & Co. has an average rating of "Moderate Buy" and an average price target of $23.45.

Levi Strauss & Co. Trading Down 0.7%

Shares of NYSE:LEVI traded down $0.15 during midday trading on Friday, hitting $21.93. 1,928,770 shares of the stock were exchanged, compared to its average volume of 2,458,159. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.48. The business's 50-day moving average price is $20.94 and its 200 day moving average price is $18.10. Levi Strauss & Co. has a 12 month low of $12.17 and a 12 month high of $22.83.

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

Levi Strauss & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 24th were issued a $0.14 dividend. The ex-dividend date was Thursday, July 24th. 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 2.6%. Levi Strauss & Co.'s dividend payout ratio (DPR) is currently 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.