VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.11 Million in Levi Strauss & Co. $LEVI

Key Points

• Virginia Retirement Systems ET Al opened a new position in Levi Strauss & Co. in the fourth quarter, buying 53,550 shares valued at about $1.11 million.
• Several other institutional investors also increased or initiated stakes, and institutions and hedge funds now own 69.14% of Levi Strauss’s stock.
• Levi Strauss recently beat earnings expectations, reporting $0.42 EPS on $1.74 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus target price of $26.69.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Levi Strauss & Co. (NYSE:LEVI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,550 shares of the blue-jean maker's stock, valued at approximately $1,111,000.

Several other large investors also recently made changes to their positions in the business. Versor Investments LP increased its position in shares of Levi Strauss & Co. by 77.6% in the fourth quarter. Versor Investments LP now owns 86,992 shares of the blue-jean maker's stock worth $1,804,000 after acquiring an additional 38,000 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Levi Strauss & Co. in the fourth quarter worth $255,000. CORDA Investment Management LLC. increased its position in shares of Levi Strauss & Co. by 1.0% in the fourth quarter. CORDA Investment Management LLC. now owns 673,592 shares of the blue-jean maker's stock worth $13,970,000 after acquiring an additional 6,737 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Levi Strauss & Co. by 30.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 46,999 shares of the blue-jean maker's stock worth $975,000 after acquiring an additional 11,051 shares in the last quarter. Finally, Keybank National Association OH increased its position in shares of Levi Strauss & Co. by 13.6% in the fourth quarter. Keybank National Association OH now owns 114,577 shares of the blue-jean maker's stock worth $2,376,000 after acquiring an additional 13,737 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company's stock.

Insiders Place Their Bets

In other Levi Strauss & Co. news, EVP Karyn Hillman sold 38,938 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.91, for a total transaction 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. This represents a 29.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Harmit J. Singh sold 121,767 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $23.52, for a total transaction of $2,863,959.84. Following the transaction, the executive vice president owned 148,757 shares in the company, valued at $3,498,764.64. This trade represents 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 a total of 270,705 shares of company stock worth $6,286,029 over the last quarter. 1.08% of the stock is currently owned by insiders.

Levi Strauss & Co. Price Performance

Shares of LEVI stock opened at $20.99 on Friday. The company has a market capitalization of $8.07 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.35. The firm has a fifty day simple moving average of $20.59 and a 200-day simple moving average of $21.04. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Levi Strauss & Co. has a twelve month low of $16.50 and a twelve month high of $24.82.

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

Levi Strauss & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, April 22nd. Levi Strauss & Co.'s dividend payout ratio is 35.67%.

Wall Street Analyst Weigh In

LEVI has been the subject of several recent research reports. Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. BTIG Research restated a "buy" rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Telsey Advisory Group restated an "outperform" rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 1st. Raymond James Financial restated an "outperform" rating and issued a $25.00 target price on shares of Levi Strauss & Co. in a research note on Monday, May 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.69.

Levi Strauss & Co. Company Profile

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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