Levi Strauss & Co. (NYSE:LEVI) Sets New 12-Month High - Still a Buy?

Key Points

• Levi Strauss & Co. shares reached a new 52-week high at $23.33, closing at $22.89 with a trading volume of over 4.5 million shares.
• Analysts have mixed opinions on the stock, with nine rating it a 'Buy' and three a 'Hold'; price targets vary from $19.00 to $24.00, reflecting strong optimism about its future performance.
• The company raised its quarterly dividend to $0.14 per share, representing a 2.4% yield, which indicates confidence in its financial stability and growth prospects.

Shares of Levi Strauss & Co. (NYSE:LEVI - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.33 and last traded at $22.89, with a volume of 4510441 shares trading hands. The stock had previously closed at $22.66.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research downgraded shares of Levi Strauss & Co. from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Morgan Stanley increased 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 research report on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Levi Strauss & Co. from $18.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Stifel Nicolaus increased their price objective on shares of Levi Strauss & Co. from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Citigroup raised their price target on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.45.

Levi Strauss & Co. Stock Performance

The stock has a market cap of $9.06 billion, a P/E ratio of 22.44, a PEG ratio of 1.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.48 and a quick ratio of 0.85. The firm's 50-day moving average price is $21.30 and its 200-day moving average price is $18.38.

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

Levi Strauss & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 24th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, July 24th. This is an increase from Levi Strauss & Co.'s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 2.4%. Levi Strauss & Co.'s dividend payout ratio (DPR) is 54.90%.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in Levi Strauss & Co. by 71.9% during the second quarter. Osaic Holdings Inc. now owns 12,292 shares of the blue-jean maker's stock valued at $227,000 after purchasing an additional 5,141 shares in the last quarter. Squarepoint Ops LLC raised its stake in Levi Strauss & Co. by 49.2% during the second quarter. Squarepoint Ops LLC now owns 74,599 shares of the blue-jean maker's stock valued at $1,379,000 after purchasing an additional 24,612 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Levi Strauss & Co. during the second quarter valued at $307,000. Headlands Technologies LLC raised its stake in Levi Strauss & Co. by 17,721.6% during the second quarter. Headlands Technologies LLC now owns 6,594 shares of the blue-jean maker's stock valued at $122,000 after purchasing an additional 6,557 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in Levi Strauss & Co. during the second quarter valued at $347,000. Hedge funds and other institutional investors own 69.14% of the company's stock.

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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