Levi Strauss & Co. (NYSE:LEVI) Reaches New 1-Year High - What's Next?

Key Points

• Levi Strauss & Co. shares reached a new 52-week high at $22.89 and currently trades around $22.79, with a total trading volume of 89,007 shares.
• Several analysts have issued upgrades, with Barclays raising its price target from $20 to $24, while Wells Fargo increased its target from $22 to $25, indicating strong market optimism.
• The company recently declared a quarterly dividend of $0.14, representing a 2.5% yield, up from the previous dividend of $0.13, signaling positive financial performance.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.89 and last traded at $22.79, with a volume of 89007 shares traded. The stock had previously closed at $22.50.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LEVI shares. UBS Group increased their target price on shares of Levi Strauss & Co. from $20.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Bank of America increased their target price on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Citigroup increased their target price on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company increased their target price on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Zacks Research cut shares of Levi Strauss & Co. from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Levi Strauss & Co. has an average rating of "Moderate Buy" and an average target price of $23.45.

Levi Strauss & Co. Trading Down 1.6%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.48. The stock has a market capitalization of $8.97 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The firm's fifty day simple moving average is $21.27 and its 200 day simple moving average is $18.32.

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, beating analysts' consensus estimates of $0.13 by $0.09. Levi Strauss & Co. had a net margin of 6.40% and a return on equity of 28.75%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company posted $0.16 EPS. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 24th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, July 24th. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s dividend payout ratio is 54.90%.

Institutional Investors Weigh In On Levi Strauss & Co.

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its position in Levi Strauss & Co. by 2.1% during the 1st quarter. XTX Topco Ltd now owns 32,839 shares of the blue-jean maker's stock worth $512,000 after buying an additional 670 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Levi Strauss & Co. by 35.4% during the 1st 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 during the period. Northwestern Mutual Wealth Management Co. boosted its position in Levi Strauss & Co. by 140.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock worth $26,000 after buying an additional 833 shares during the period. Golden State Wealth Management LLC boosted its position in Levi Strauss & Co. by 101.5% during the 1st quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker's stock worth $34,000 after buying an additional 1,113 shares during the period. Finally, Cetera Investment Advisers boosted its position in Levi Strauss & Co. by 7.5% during the 1st quarter. Cetera Investment Advisers now owns 16,297 shares of the blue-jean maker's stock worth $254,000 after buying an additional 1,133 shares during the period. 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.