Levi Strauss & Co. (NYSE:LEVI) Hits New 52-Week High on Better-Than-Expected Earnings

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) shares hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $22.00 and last traded at $21.75, with a volume of 2701748 shares. The stock had previously closed at $19.73.

The blue-jean maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.09. Levi Strauss & Co. had a return on equity of 28.75% and a net margin of 6.40%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year.

Levi Strauss & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 24th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $0.56 annualized dividend and a dividend yield of 2.62%. This is a positive change from Levi Strauss & Co.'s previous quarterly dividend of $0.13. Levi Strauss & Co.'s dividend payout ratio is currently 50.98%.

Analysts Set New Price Targets

LEVI has been the topic of a number of research analyst reports. Bank of America raised their price target on Levi Strauss & Co. from $21.00 to $24.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus increased their target price 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. Wells Fargo & Company raised their target price on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday. Telsey Advisory Group upped their price target on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Barclays reiterated an "overweight" rating and issued a $24.00 price objective (up from $20.00) on shares of Levi Strauss & Co. in a report on Monday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Levi Strauss & Co. has an average rating of "Moderate Buy" and a consensus price target of $23.18.

Institutional Trading of Levi Strauss & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its holdings 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. IFP Advisors Inc acquired a new position in shares of Levi Strauss & Co. in the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Levi Strauss & Co. by 35.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker's stock worth $49,000 after acquiring an additional 812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Levi Strauss & Co. by 133.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker's stock valued at $51,000 after acquiring an additional 1,879 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Levi Strauss & Co. during the fourth quarter valued at approximately $57,000. 69.14% of the stock is owned by institutional investors and hedge funds.

Levi Strauss & Co. Trading Down 2.7%

The company's 50-day moving average is $17.90 and its 200 day moving average is $17.15. 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 firm has a market cap of $8.46 billion, a PE ratio of 20.94, a P/E/G ratio of 1.94 and a beta of 1.15.

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.