Levi Strauss & Co. (NYSE:LEVI) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) announced its quarterly earnings data on Thursday. The blue-jean maker reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09, Zacks reports. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. Levi Strauss & Co. had a return on equity of 29.22% and a net margin of 6.40%. The company's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS.

Levi Strauss & Co. Stock Performance

Shares of LEVI traded up $2.18 during trading hours on Friday, hitting $21.91. The stock had a trading volume of 16,510,859 shares, compared to its average volume of 2,206,662. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.50 and a quick ratio of 0.89. Levi Strauss & Co. has a 12 month low of $12.17 and a 12 month high of $22.19. The firm has a market capitalization of $8.67 billion, a PE ratio of 21.48, a PEG ratio of 2.07 and a beta of 1.15. The stock has a fifty day moving average price of $17.90 and a 200 day moving average price of $17.15.

Levi Strauss & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 24th will be issued a $0.14 dividend. The ex-dividend date is Thursday, July 24th. This represents a $0.56 annualized dividend and a dividend yield of 2.56%. This is a positive change from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s payout ratio is presently 54.90%.

Institutional Trading of Levi Strauss & Co.

Several large investors have recently modified their holdings of LEVI. AQR Capital Management LLC grew its holdings in shares of 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Levi Strauss & Co. by 3.4% during the first 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 valued at $24,908,000 after purchasing an additional 52,332 shares in the last quarter. Caxton Associates LLP purchased a new position in Levi Strauss & Co. during the first quarter valued at $241,000. Jacobs Levy Equity Management Inc. purchased a new position in Levi Strauss & Co. during the first quarter valued at $224,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Levi Strauss & Co. by 133.5% during the first 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 in the last quarter. Institutional investors own 69.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LEVI shares. Barclays increased their price objective on Levi Strauss & Co. from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Morgan Stanley raised their price target on Levi Strauss & Co. from $16.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday. Citigroup raised their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday. Wells Fargo & Company raised their price target on Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Levi Strauss & Co. from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.82.

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.