Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells $3,497,344.62 in Stock

Key Points

• Major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of Levi Strauss & Co. at an average price of $24.01, totaling about $3.5 million. The transaction, disclosed in an SEC filing, was made under a pre-arranged Rule 10b5-1 plan.
• Levi Strauss recently reported stronger-than-expected earnings, with quarterly EPS of $0.42 versus the $0.37 consensus and revenue of $1.74 billion versus expectations of $1.65 billion. Revenue rose 14.1% from a year earlier.
• Wall Street remains generally positive on LEVI, with 13 Buy ratings and 3 Hold ratings for an average “Moderate Buy” consensus and a $26.79 price target. The stock was trading near $24.02, close to its 52-week high of $24.82.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of Levi Strauss & Co. stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.01, for a total value of $3,497,344.62. Following the completion of the transaction, the insider owned 145,662 shares of the company's stock, valued at approximately $3,497,344.62. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

E. Haas Jr. Family Fund Peter also recently made the following trade(s):

• On Wednesday, May 27th, E. Haas Jr. Family Fund Peter sold 4,338 shares of Levi Strauss & Co. stock. The shares were sold at an average price of $24.00, for a total value of $104,112.00.

Levi Strauss & Co. Price Performance

LEVI traded down $0.22 during midday trading on Friday, hitting $24.02. 2,017,893 shares of the company traded hands, compared to its average volume of 2,666,474. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Levi Strauss & Co. has a 52-week low of $16.50 and a 52-week high of $24.82. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.72 and a beta of 1.34. The business has a 50 day simple moving average of $22.13 and a two-hundred day simple moving average of $21.31.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last announced its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.65 billion. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that Levi Strauss & Co. will post 1.51 earnings per share for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a $0.14 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 2.3%. Levi Strauss & Co.'s dividend payout ratio (DPR) is presently 35.67%.

Institutional Trading of Levi Strauss & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of LEVI. US Bancorp DE grew its holdings in shares of Levi Strauss & Co. by 260.5% in the third quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker's stock valued at $26,000 after purchasing an additional 810 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Levi Strauss & Co. during the fourth quarter worth about $26,000. Northwestern Mutual Wealth Management Co. raised its stake in Levi Strauss & Co. by 140.7% during the second 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 period. Kestra Advisory Services LLC acquired a new position in Levi Strauss & Co. in the 4th quarter valued at about $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Levi Strauss & Co. by 133.5% in 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 last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LEVI shares. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Raymond James Financial restated an "outperform" rating and set a $25.00 price target on shares of Levi Strauss & Co. in a research report on Monday, May 4th. Wall Street Zen raised shares of Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research note on Saturday, April 11th. BTIG Research reiterated a "buy" rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Finally, Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Levi Strauss & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

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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