JPMorgan Chase & Co. Issues Positive Forecast for Levi Strauss & Co. (NYSE:LEVI) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on Levi Strauss to $32 from $30 and kept an overweight rating, implying about 30.55% upside from the previous close.
• Wall Street sentiment remains broadly positive, with 13 Buy ratings and 3 Hold ratings; the stock carries a Moderate Buy consensus and an average price target of $26.86.
• Levi Strauss recently beat expectations in its latest quarter, reporting $0.42 EPS on $1.74 billion in revenue, both above estimates, while revenue rose 14.1% year over year.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $30.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the blue-jean maker's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 30.55% from the company's previous close.

A number of other equities analysts also recently weighed in on the company. Wall Street Zen raised Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 11th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a research report on Wednesday, April 1st. UBS Group lifted their target price on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. Weiss Ratings raised Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Finally, TD Cowen restated a "buy" rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.86.

Levi Strauss & Co. Stock Performance

Shares of LEVI stock opened at $24.51 on Thursday. The stock has a market cap of $9.43 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.87 and a beta of 1.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.58 and a quick ratio of 0.97. The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $21.52. Levi Strauss & Co. has a one year low of $17.72 and a one year high of $25.58.

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

Insiders Place Their Bets

In other news, EVP Karyn Hillman sold 38,938 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.91, for a total transaction of $892,069.58. Following the completion of the sale, the executive vice president 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 SEC, which is available at this hyperlink. Also, major shareholder Robert D. Haas sold 488,851 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $24.11, for a total value of $11,786,197.61. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,468,570 shares of company stock worth $34,136,152 in the last 90 days. Corporate insiders own 1.08% of the company's stock.

Institutional Trading of Levi Strauss & Co.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Levi Strauss & Co. by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 132,304 shares of the blue-jean maker's stock valued at $2,744,000 after buying an additional 465 shares in the last quarter. Figure 8 Investment Strategies LLC lifted its holdings in shares of Levi Strauss & Co. by 1.2% during the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Levi Strauss & Co. by 2.4% in 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 acquiring an additional 638 shares during the period. US Bancorp DE boosted its position in shares of Levi Strauss & Co. by 260.5% in the third quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker's stock valued at $26,000 after acquiring an additional 810 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Levi Strauss & Co. by 140.7% in 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 acquiring an additional 833 shares during the period. 69.14% of the stock is owned by institutional investors and hedge funds.

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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