Insider Selling: Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells 47,721 Shares of Stock

Key Points

• Major shareholder Margaret Haas sold 47,721 shares of Levi Strauss on June 11 at an average price of $24.01, totaling about $1.15 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• LEVI shares were down 0.9% to $24.02 in Friday trading, near the stock’s 52-week high of $24.82. The company also has a market value of about $9.24 billion.
• Despite the insider sale, Levi Strauss has recently posted better-than-expected earnings and a quarterly dividend of $0.14 per share. Wall Street sentiment remains positive, with an average rating of Moderate Buy and a mean price target of $26.79.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Margaret Haas sold 47,721 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.01, for a total value of $1,145,781.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Levi Strauss & Co. Stock Down 0.9%

NYSE:LEVI traded down $0.22 on Friday, reaching $24.02. 2,017,893 shares of the stock traded hands, compared to its average volume of 2,666,474. The company's fifty day simple moving average is $22.13 and its 200 day simple moving average is $21.31. 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 12 month low of $16.50 and a 12 month high of $24.82. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.72 and a beta of 1.34.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.65 billion. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Equities analysts predict that Levi Strauss & Co. will post 1.51 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.'s dividend payout ratio (DPR) is presently 35.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LEVI. Raymond James Financial reissued an "outperform" rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a research note on Monday, May 4th. BTIG Research reiterated a "buy" rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. UBS Group increased their price objective on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Finally, Weiss Ratings upgraded Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $26.79.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of large investors have recently modified their holdings of the business. Amundi grew its position in Levi Strauss & Co. by 73.3% during the 1st quarter. Amundi now owns 18,828 shares of the blue-jean maker's stock worth $348,000 after purchasing an additional 7,963 shares during the last quarter. California State Teachers Retirement System grew its position in Levi Strauss & Co. by 25.6% during the first quarter. California State Teachers Retirement System now owns 107,325 shares of the blue-jean maker's stock valued at $1,984,000 after buying an additional 21,853 shares during the period. Royal Bank of Canada grew its holdings in Levi Strauss & Co. by 117.2% in the first quarter. Royal Bank of Canada now owns 358,797 shares of the blue-jean maker's stock valued at $6,635,000 after purchasing an additional 193,607 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Levi Strauss & Co. by 7.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,636,734 shares of the blue-jean maker's stock valued at $30,263,000 after purchasing an additional 114,749 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Levi Strauss & Co. by 66.0% in the first quarter. Lazard Asset Management LLC now owns 16,271 shares of the blue-jean maker's stock valued at $301,000 after acquiring an additional 6,472 shares in the last quarter. Hedge funds and other institutional investors own 69.14% of the company's stock.

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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