Levi Strauss & Co. (NYSE:LEVI) EVP Harmit Singh Sells 110,000 Shares

Key Points

• EVP Harmit Singh sold 110,000 shares on April 20 at an average price of $23 for about $2.53M, reducing his stake by 28.91% to 270,514 shares (≈$6.22M), per an SEC filing.
• Levi reported quarterly EPS of $0.42 (beating estimates by $0.05) and revenue of $1.74B, up 14.1% year-over-year, while the stock trades near $22.79 with a market cap of ~$8.76B.
• The company declared a quarterly dividend of $0.14 per share (annualized $0.56, ~2.5% yield) with the ex-dividend/record date on April 22 and payment on May 6.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) EVP Harmit Singh sold 110,000 shares of Levi Strauss & Co. stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $23.00, for a total transaction of $2,530,000.00. Following the sale, the executive vice president owned 270,514 shares in the company, valued at approximately $6,221,822. This represents a 28.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Levi Strauss & Co. Stock Performance

Shares of NYSE LEVI traded down $0.57 during midday trading on Wednesday, reaching $22.79. 2,241,655 shares of the company traded hands, compared to its average volume of 2,677,836. Levi Strauss & Co. has a 52 week low of $15.32 and a 52 week high of $24.82. The stock has a 50-day moving average price of $20.51 and a 200 day moving average price of $21.02. 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 market cap of $8.76 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.75 and a beta of 1.34.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that Levi Strauss & Co. will post 1.5 earnings per share for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, April 22nd. Levi Strauss & Co.'s payout ratio is currently 35.67%.

Wall Street Analysts Forecast Growth

LEVI has been the topic of several research reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, April 1st. Jefferies Financial Group initiated coverage on shares of Levi Strauss & Co. in a research report on Wednesday, February 4th. They issued a "buy" rating and a $25.00 price target on the stock. UBS Group boosted their price target 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. Weiss Ratings cut shares of Levi Strauss & Co. from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 8th. Finally, BTIG Research reiterated a "buy" rating and issued a $27.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Levi Strauss & Co. has an average rating of "Moderate Buy" and an average target price of $26.77.

Institutional Investors Weigh In On Levi Strauss & Co.

Several hedge funds and other institutional investors have recently bought and sold shares of LEVI. AQR Capital Management LLC raised its position in Levi Strauss & Co. by 181.6% in the first quarter. AQR Capital Management LLC now owns 151,645 shares of the blue-jean maker's stock worth $2,364,000 after acquiring an additional 97,800 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Levi Strauss & Co. during the 1st quarter worth about $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Levi Strauss & Co. by 133.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker's stock worth $51,000 after buying an additional 1,879 shares during the period. Caxton Associates LLP acquired a new stake in Levi Strauss & Co. during the 1st quarter worth about $241,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Levi Strauss & Co. by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,597,687 shares of the blue-jean maker's stock worth $24,908,000 after buying an additional 52,332 shares during the period. 69.14% of the stock is currently owned by institutional investors.

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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