Levi Strauss & Co. (NYSE:LEVI) Sees Large Growth in Short Interest

Key Points

• Levi Strauss & Co. experienced a significant increase in short interest of 90.1% in August, reaching a total of 11,540,000 shares.
• The company reported a quarterly earnings per share of $0.22, surpassing analyst estimates, along with a revenue increase of 6.4% year-over-year.
• Levi Strauss & Co. has increased its quarterly dividend to $0.14, yielding 2.5%, reflecting a positive shift in its financial strategy.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 11,540,000 shares, anincreaseof90.1% from the July 31st total of 6,070,000 shares. Based on an average daily volume of 2,630,000 shares, the short-interest ratio is presently 4.4 days. Based on an average daily volume of 2,630,000 shares, the short-interest ratio is presently 4.4 days.

Levi Strauss & Co. Price Performance

Shares of NYSE LEVI traded down $0.30 during trading on Friday, hitting $22.25. The company had a trading volume of 1,570,953 shares, compared to its average volume of 1,826,059. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.82 and a beta of 1.25. Levi Strauss & Co. has a fifty-two week low of $12.17 and a fifty-two week high of $22.83. The stock has a fifty day simple moving average of $20.70 and a two-hundred day simple moving average of $18.01. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.49.

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 firm had revenue of $1.45 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. On average, research analysts expect that Levi Strauss & Co. will post 1.27 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 24th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date was Thursday, July 24th. This is a positive change from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s dividend payout ratio (DPR) is presently 54.90%.

Analyst Ratings Changes

Several research analysts recently issued reports on LEVI shares. UBS Group raised 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. Telsey Advisory Group lifted 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, July 11th. Morgan Stanley lifted their price objective on shares of Levi Strauss & Co. from $16.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Wells Fargo & Company lifted their price objective on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Levi Strauss & Co. from $18.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.45.

Hedge Funds Weigh In On Levi Strauss & Co.

Several institutional investors and hedge funds have recently bought and sold shares of LEVI. Teacher Retirement System of Texas lifted its holdings in shares of Levi Strauss & Co. by 87.6% in the 1st quarter. Teacher Retirement System of Texas now owns 53,967 shares of the blue-jean maker's stock worth $841,000 after acquiring an additional 25,197 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Levi Strauss & Co. in the 1st quarter worth approximately $402,000. SG Americas Securities LLC lifted its holdings in shares of Levi Strauss & Co. by 143.6% in the 1st quarter. SG Americas Securities LLC now owns 29,479 shares of the blue-jean maker's stock worth $460,000 after acquiring an additional 17,376 shares during the last quarter. Nuveen LLC acquired a new position in shares of Levi Strauss & Co. in the 1st quarter worth approximately $3,259,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Levi Strauss & Co. by 511.8% in the 4th quarter. Two Sigma Investments LP now owns 127,046 shares of the blue-jean maker's stock worth $2,198,000 after acquiring an additional 106,281 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Levi Strauss & Co. Company Profile

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.

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