Levi Strauss & Co. (NYSE:LEVI) Given New $23.00 Price Target at JPMorgan Chase & Co.

Levi Strauss & Co. (NYSE:LEVI - Free Report) had its price objective upped by JPMorgan Chase & Co. from $18.00 to $23.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the blue-jean maker's stock.

A number of other research analysts have also recently issued reports on the stock. Citigroup restated a "neutral" rating and set a $19.00 price objective (up previously from $14.00) on shares of Levi Strauss & Co. in a report on Wednesday, May 21st. Bank of America boosted their price objective on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a report on Friday. Barclays boosted their price objective on shares of Levi Strauss & Co. from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Telsey Advisory Group boosted their price objective on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company an "outperform" rating in a 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.18.

Levi Strauss & Co. Trading Down 2.7%

Shares of LEVI traded down $0.59 on Friday, reaching $21.36. 4,807,429 shares of the company's stock were exchanged, compared to its average volume of 2,217,069. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.46 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The business has a 50 day moving average price of $17.90 and a two-hundred day moving average price of $17.15. Levi Strauss & Co. has a 12 month low of $12.17 and a 12 month high of $22.35.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.37 billion. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. Levi Strauss & Co.'s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. Research analysts anticipate that Levi Strauss & Co. will post 1.27 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 24th will be paid a $0.14 dividend. This is a boost from Levi Strauss & Co.'s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, July 24th. This represents a $0.56 annualized dividend and a yield of 2.62%. Levi Strauss & Co.'s payout ratio is 50.98%.

Hedge Funds Weigh In On Levi Strauss & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Levi Strauss & Co. by 1,180,700.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,808 shares of the blue-jean maker's stock valued at $218,000 after buying an additional 11,807 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Levi Strauss & Co. during the 2nd quarter worth approximately $483,000. Baader Bank Aktiengesellschaft increased its position in Levi Strauss & Co. by 80.1% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 21,330 shares of the blue-jean maker's stock worth $394,000 after purchasing an additional 9,485 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in Levi Strauss & Co. during the 2nd quarter worth approximately $432,000. Finally, Harbor Capital Advisors Inc. increased its position in Levi Strauss & Co. by 24.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 25,966 shares of the blue-jean maker's stock worth $480,000 after purchasing an additional 5,098 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.