Nuveen LLC Buys New Holdings in Levi Strauss & Co. $LEVI

Key Points

• Nuveen LLC has acquired a new stake in Levi Strauss & Co., purchasing 209,048 shares valued at approximately $3.26 million, representing about 0.05% ownership by the end of the last quarter.
• Levi Strauss & Co. recently increased its quarterly dividend from $0.13 to $0.14, marking a yield of 2.5% and maintaining a payout ratio of 54.90%.
• Wall Street analysts have shown support for Levi's stock, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and a target price of approximately $23.45.

Nuveen LLC acquired a new stake in shares of Levi Strauss & Co. (NYSE:LEVI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 209,048 shares of the blue-jean maker's stock, valued at approximately $3,259,000. Nuveen LLC owned approximately 0.05% of Levi Strauss & Co. at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LEVI. Millennium Management LLC boosted its holdings in shares of Levi Strauss & Co. by 560.0% in the 4th 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. acquired a new position in shares of Levi Strauss & Co. in the 1st quarter worth approximately $19,779,000. Fund 1 Investments LLC acquired a new position in shares of Levi Strauss & Co. in the 4th quarter worth approximately $11,869,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Levi Strauss & Co. by 53.7% in the 4th 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 lifted its holdings in Levi Strauss & Co. by 5,864.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 508,146 shares of the blue-jean maker's stock worth $8,791,000 after buying an additional 499,627 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Levi Strauss & Co. Stock Up 0.5%

NYSE LEVI traded up $0.12 on Friday, reaching $22.38. The company had a trading volume of 2,831,828 shares, compared to its average volume of 1,997,105. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.80 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. Levi Strauss & Co. has a 1-year low of $12.17 and a 1-year high of $22.61. The company's fifty day moving average is $20.29 and its 200-day moving average is $17.85.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.37 billion. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 24th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, July 24th. This is a boost from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s dividend payout ratio (DPR) is currently 54.90%.

Analyst Ratings Changes

Several research firms have issued reports on LEVI. Wells Fargo & Company upped their price objective on Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley upped 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 report on Friday, July 11th. UBS Group upped their target price on shares of Levi Strauss & Co. from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Stifel Nicolaus upped their target price on shares of Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Citigroup upped their price objective on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Levi Strauss & Co. has a consensus rating of "Moderate Buy" and a consensus target price of $23.45.

About Levi Strauss & Co.

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.