Levi Strauss & Co. (NYSE:LEVI) Major Shareholder E. Haas Jr. Family Fund Peter Sells 150,000 Shares

Key Points

• Major shareholder E. Haas Jr. Family Fund Peter sold 150,000 shares of Levi Strauss & Co. stock for a total of $3,628,500 on October 1st, at an average price of $24.19 per share.
• Levi Strauss recently reported quarterly earnings of $0.22 EPS, exceeding analysts' estimates, along with revenue of $1.45 billion, up 6.4% year-over-year.
• The company announced a quarterly dividend of $0.14 per share, an increase from the previous dividend, resulting in an annualized dividend yield of 2.3%.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder E. Haas Jr. Family Fund Peter sold 150,000 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $24.19, for a total value of $3,628,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Levi Strauss & Co. Price Performance

NYSE:LEVI traded up $0.03 during trading hours on Friday, reaching $24.41. The company had a trading volume of 2,061,900 shares, compared to its average volume of 2,371,462. 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 firm has a market capitalization of $9.66 billion, a PE ratio of 23.93, a PEG ratio of 1.83 and a beta of 1.30. The stock has a 50-day moving average of $21.78 and a two-hundred day moving average of $18.81. Levi Strauss & Co. has a one year low of $12.17 and a one year high of $24.82.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings data 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 company 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 28.75% and a net margin of 6.40%.The business's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Analysts forecast that Levi Strauss & Co. will post 1.27 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 24th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.3%. This is a boost from Levi Strauss & Co.'s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, July 24th. Levi Strauss & Co.'s payout ratio is currently 54.90%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LEVI. UBS Group upped their price target on Levi Strauss & Co. from $20.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Telsey Advisory Group upped their price target on Levi Strauss & Co. from $24.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday. Barclays increased their target price on Levi Strauss & Co. from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, September 26th. Needham & Company LLC began coverage on Levi Strauss & Co. in a research note on Thursday, September 25th. They issued a "buy" rating and a $28.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Levi Strauss & Co. from $18.00 to $23.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.00.

Institutional Investors Weigh In On Levi Strauss & Co.

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its holdings 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 worth $26,000 after acquiring an additional 833 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Levi Strauss & Co. by 101.5% in the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock worth $34,000 after acquiring an additional 1,113 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Levi Strauss & Co. during the first quarter worth about $38,000. Hara Capital LLC grew 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 buying an additional 2,020 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Levi Strauss & Co. by 35.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after buying an additional 812 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors.

About Levi Strauss & Co.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.