Levi Strauss & Co. (NYSE:LEVI) Releases Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Levi Strauss beat quarterly expectations, reporting adjusted EPS of $0.28 versus the $0.24 consensus estimate. Revenue also came in above forecasts at $1.56 billion versus $1.52 billion expected.
• The stock slipped after the report, trading down 1.1% to $24.38 on heavier-than-normal volume. The shares remain near their 52-week high of $25.58.
• Analysts remain generally positive, with 13 Buy ratings and three Hold ratings, leading to a consensus “Moderate Buy” rating. The average price target stands at $27.21.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) released its quarterly earnings data on Wednesday. The blue-jean maker reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04, FiscalAI reports. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion.

Levi Strauss & Co. Trading Down 1.1%

Shares of Levi Strauss & Co. stock traded down $0.28 during trading on Wednesday, reaching $24.38. 5,765,930 shares of the stock were exchanged, compared to its average volume of 2,677,877. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.48. The stock's fifty day moving average is $23.02 and its 200 day moving average is $21.60. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. Levi Strauss & Co. has a 1 year low of $17.72 and a 1 year high of $25.58.

Insiders Place Their Bets

In other news, major shareholder Robert D. Haas sold 488,851 shares of Levi Strauss & Co. stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.11, for a total transaction of $11,786,197.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the completion of the sale, the insider owned 145,662 shares of the company's stock, valued at $3,497,344.62. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,468,570 shares of company stock worth $34,136,152. 1.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of institutional investors have recently modified their holdings of LEVI. Balyasny Asset Management L.P. lifted its holdings in Levi Strauss & Co. by 9.3% in the third quarter. Balyasny Asset Management L.P. now owns 3,457,702 shares of the blue-jean maker's stock valued at $80,564,000 after acquiring an additional 294,053 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Levi Strauss & Co. by 83.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker's stock valued at $36,208,000 after purchasing an additional 890,752 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Levi Strauss & Co. by 27.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,909,810 shares of the blue-jean maker's stock valued at $44,499,000 after purchasing an additional 416,555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Levi Strauss & Co. by 9.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,908,682 shares of the blue-jean maker's stock valued at $44,472,000 after purchasing an additional 160,855 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Levi Strauss & Co. by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,700,840 shares of the blue-jean maker's stock worth $35,279,000 after purchasing an additional 74,049 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEVI has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. Citigroup upped their price objective on Levi Strauss & Co. from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, June 29th. Wall Street Zen raised Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 11th. TD Cowen reaffirmed a "buy" rating and issued a $28.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, May 27th. Finally, Telsey Advisory Group lifted their price target on shares of Levi Strauss & Co. from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Levi Strauss & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $27.21.

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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