Levi Strauss & Co. (NYSE:LEVI) Issues Earnings Results

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) released its quarterly earnings data on Thursday. The blue-jean maker reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.09, Zacks reports. Levi Strauss & Co. had a net margin of 5.63% and a return on equity of 28.11%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the company earned $0.16 earnings per share. The firm's revenue for the quarter was up 6.4% on a year-over-year basis.

Levi Strauss & Co. Stock Up 10.1%

LEVI stock traded up $1.98 during midday trading on Friday, hitting $21.71. 9,289,455 shares of the company's stock were exchanged, compared to its average volume of 2,176,681. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.49. Levi Strauss & Co. has a 12-month low of $12.17 and a 12-month high of $22.08. The firm has a 50 day moving average price of $17.79 and a 200-day moving average price of $17.12. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 1.83 and a beta of 1.15.

Analyst Ratings Changes

A number of research firms have weighed in on LEVI. Wells Fargo & Company raised their price objective on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday. Citigroup reaffirmed a "neutral" rating and issued a $19.00 target price (up from $14.00) on shares of Levi Strauss & Co. in a report on Wednesday, May 21st. Telsey Advisory Group raised their price objective on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday. Bank of America increased their target price on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a report on Friday. Finally, Barclays lifted their price objective on Levi Strauss & Co. from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Levi Strauss & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Levi Strauss & Co. by 3.4% in 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 acquiring an additional 52,332 shares in the last quarter. Caxton Associates LLP acquired a new position in Levi Strauss & Co. during the 1st quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $51,000 after purchasing an additional 1,879 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Levi Strauss & Co. during the 1st quarter valued at approximately $224,000. Finally, AQR Capital Management LLC boosted its position in Levi Strauss & Co. by 181.6% during the 1st quarter. AQR Capital Management LLC now owns 151,645 shares of the blue-jean maker's stock valued at $2,364,000 after purchasing an additional 97,800 shares during the period. Institutional investors and hedge funds own 69.14% of the company's stock.

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.