Levi Strauss & Co. (NYSE:LEVI) Major Shareholder Sells $3,885,843.49 in Stock

Key Points

• Major shareholder Robert Haas sold 176,549 shares of Levi Strauss stock for about $3.89 million at an average price of $22.01. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Levi Strauss shares were up 3.4%, trading at $22.77, with the company carrying a market cap of $8.76 billion and a trailing P/E ratio of 14.50. The stock has traded between $16.50 and $24.82 over the past year.
• The company recently beat quarterly earnings and revenue estimates, posting EPS of $0.42 on revenue of $1.74 billion, and it also pays a 2.5% dividend yield. Analysts remain constructive, with a consensus Moderate Buy rating and an average price target of $26.69.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Robert Haas sold 176,549 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $22.01, for a total transaction of $3,885,843.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Levi Strauss & Co. Trading Up 3.4%

Shares of Levi Strauss & Co. stock traded up $0.75 during trading hours on Tuesday, hitting $22.77. The company's stock had a trading volume of 958,981 shares, compared to its average volume of 2,706,583. Levi Strauss & Co. has a 1-year low of $16.50 and a 1-year high of $24.82. The business has a fifty day moving average of $20.89 and a 200 day moving average of $21.09. The company has a market capitalization of $8.76 billion, a PE ratio of 14.50, a P/E/G ratio of 1.66 and a beta of 1.35. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last released its quarterly earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share 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 analyst estimates of $1.65 billion. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The business's revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. As a group, equities analysts forecast that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.'s dividend payout ratio (DPR) is currently 35.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $28.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Wall Street Zen raised shares of Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 11th. Telsey Advisory Group reissued an "outperform" rating and set a $27.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 1st. Weiss Ratings raised shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Finally, Raymond James Financial reissued an "outperform" rating and set a $25.00 price objective on shares of Levi Strauss & Co. in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.69.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LEVI. AQR Capital Management LLC lifted its position in Levi Strauss & Co. by 181.6% in 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 last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Levi Strauss & Co. in the 1st quarter valued at about $224,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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. Caxton Associates LLP bought a new stake in Levi Strauss & Co. in the 1st quarter valued at about $241,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 valued at $24,908,000 after purchasing an additional 52,332 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors.

Levi Strauss & Co. Company Profile

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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