Thrivent Financial for Lutherans Invests $5.06 Million in Levi Strauss & Co. $LEVI

Key Points

• Thrivent Financial for Lutherans bought a new stake in Levi Strauss & Co. during the fourth quarter, purchasing 243,971 shares worth about $5.06 million.
• Levi Strauss reported strong quarterly results, with EPS of $0.42 beating estimates and revenue of $1.74 billion topping expectations, while sales rose 14.1% year over year.
• The company also paid a quarterly dividend of $0.14 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $26.69.

Thrivent Financial for Lutherans purchased a new position in Levi Strauss & Co. (NYSE:LEVI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 243,971 shares of the blue-jean maker's stock, valued at approximately $5,060,000. Thrivent Financial for Lutherans owned about 0.06% of Levi Strauss & Co. at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Figure 8 Investment Strategies LLC boosted its stake in shares of Levi Strauss & Co. by 1.2% in the 4th quarter. Figure 8 Investment Strategies LLC now owns 50,939 shares of the blue-jean maker's stock worth $1,056,000 after buying an additional 583 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Levi Strauss & Co. by 10.3% during the third quarter. Jones Financial Companies Lllp now owns 6,553 shares of the blue-jean maker's stock valued at $151,000 after purchasing an additional 614 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Levi Strauss & Co. by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,732 shares of the blue-jean maker's stock valued at $575,000 after purchasing an additional 638 shares in the last quarter. US Bancorp DE lifted its position in Levi Strauss & Co. by 260.5% during the third quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker's stock valued at $26,000 after purchasing an additional 810 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Levi Strauss & Co. by 140.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock valued at $26,000 after purchasing an additional 833 shares in the last quarter. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Karyn Hillman sold 38,938 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $22.91, for a total value of $892,069.58. Following the transaction, the executive vice president directly owned 91,522 shares in the company, valued at $2,096,769.02. The trade was a 29.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harmit J. Singh sold 121,767 shares of the business's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $23.52, for a total value of $2,863,959.84. Following the completion of the transaction, the executive vice president owned 148,757 shares in the company, valued at $3,498,764.64. The trade was a 45.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 370,705 shares of company stock worth $8,399,029 over the last ninety days. Corporate insiders own 1.08% of the company's stock.

Levi Strauss & Co. Price Performance

Shares of Levi Strauss & Co. stock opened at $21.76 on Friday. The stock's 50-day simple moving average is $20.73 and its 200-day simple moving average is $21.06. Levi Strauss & Co. has a 52 week low of $16.50 and a 52 week high of $24.82. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.61 and a beta of 1.35. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The business's revenue was up 14.1% on a year-over-year basis. As a group, analysts expect that Levi Strauss & Co. will post 1.5 earnings per share for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, April 22nd. Levi Strauss & Co.'s payout ratio is presently 35.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LEVI shares. Weiss Ratings upgraded Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. UBS Group lifted their target price on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Telsey Advisory Group reiterated an "outperform" rating and set a $27.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, April 1st. Jefferies Financial Group started coverage on Levi Strauss & Co. in a research report on Wednesday, February 4th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Wall Street Zen upgraded Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 11th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Levi Strauss & Co. has a consensus rating of "Moderate Buy" and an average price target of $26.69.

About Levi Strauss & Co.

Levi Strauss & Co is a global apparel company best known for its denim jeans and casual wear. Founded in 1853 in San Francisco by Bavarian immigrant Levi Strauss, the company pioneered the modern blue jean with the introduction of rivet-reinforced work pants. Over its more than 160-year history, Levi Strauss has evolved into a lifestyle brand, offering a broad portfolio that includes denim for men, women and children, as well as tops, outerwear, footwear and accessories.

The company's flagship label, Levi's®, is recognized worldwide for its iconic styles such as the 501® Original Fit Jeans, while additional brands, including Dockers®, Target core metric, and Denizen® by Levi's, cater to diverse price points and consumer segments.

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