Levi Strauss & Co. (NYSE:LEVI) Hits New 12-Month High - Here's Why

Key Points

• Levi Strauss & Co. shares reached a new 52-week high of $22.36, indicating strong market performance and interest in the stock, which last traded at $22.22.
• Major brokerages have recently raised their price targets for Levi Strauss & Co., with consensus ratings indicating a "Moderate Buy" and an average price target of $23.45.
• The company reported a robust earnings quarter, with an EPS of $0.22 and revenue surpassing analysts' expectations, contributing to a quarterly revenue increase of 6.4% year-over-year.

Shares of Levi Strauss & Co. (NYSE:LEVI - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.36 and last traded at $22.22, with a volume of 207159 shares. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LEVI. Barclays reissued an "overweight" rating and set a $24.00 price target (up previously from $20.00) on shares of Levi Strauss & Co. in a research report on Monday, July 14th. Morgan Stanley boosted their target price on shares of Levi Strauss & Co. from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Stifel Nicolaus lifted their target price on Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price target on Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Citigroup upped their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Levi Strauss & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $23.45.

Levi Strauss & Co. Stock Performance

The business's fifty day moving average is $20.01 and its 200-day moving average is $17.76. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.75 billion, a PE ratio of 21.73, a P/E/G ratio of 1.73 and a beta of 1.21.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. As a group, research analysts predict that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 24th were given a $0.14 dividend. The ex-dividend date was Thursday, July 24th. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. This is a boost from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s payout ratio is presently 54.90%.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Levi Strauss & Co. by 140.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock worth $26,000 after purchasing an additional 833 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Levi Strauss & Co. by 101.5% in the 1st quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock valued at $34,000 after purchasing an additional 1,113 shares during the period. IFP Advisors Inc acquired a new position in Levi Strauss & Co. during the first quarter valued at approximately $38,000. Hara Capital LLC boosted its holdings in shares of Levi Strauss & Co. by 8,080.0% during the second quarter. Hara Capital LLC now owns 2,045 shares of the blue-jean maker's stock worth $38,000 after acquiring an additional 2,020 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Levi Strauss & Co. by 35.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after acquiring an additional 812 shares during the period. 69.14% of the stock is owned by institutional investors.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.

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