Levi Strauss & Co. (NYSE:LEVI) Sets New 52-Week High - What's Next?

Key Points

• Levi Strauss shares hit a new 52-week high, trading as high as $24.91 after closing at $23.99 the prior day, signaling strong recent momentum in the stock.
• Recent earnings and revenue beat expectations, with quarterly EPS of $0.42 versus $0.37 expected and revenue of $1.74 billion, up 14.1% year over year.
• Analyst sentiment remains positive, with multiple upgrades and price targets in place; the stock has a Moderate Buy consensus and a target price of $26.79, while the company also pays a quarterly dividend yielding about 2.3%.

Shares of Levi Strauss & Co. (NYSE:LEVI - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $24.91 and last traded at $24.89, with a volume of 692744 shares trading hands. The stock had previously closed at $23.99.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LEVI. Weiss Ratings upgraded shares of Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Raymond James Financial restated an "outperform" rating and set a $25.00 target price on shares of Levi Strauss & Co. in a research report on Monday, May 4th. Wall Street Zen raised Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research note on Saturday, April 11th. UBS Group increased their price target on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.79.

Levi Strauss & Co. Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $21.44. The company has a market capitalization of $9.52 billion, a PE ratio of 15.76, a P/E/G ratio of 1.77 and a beta of 1.34.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.05. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The business's revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 2.3%. Levi Strauss & Co.'s payout ratio is 35.67%.

Insiders Place Their Bets

In related news, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the company's stock in a transaction on 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 directly owned 145,662 shares in the company, valued at $3,497,344.62. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Margaret E. Haas sold 47,721 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.01, for a total value of $1,145,781.21. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,468,570 shares of company stock worth $34,136,152 over the last 90 days. Company insiders own 1.08% of the company's stock.

Institutional Trading of Levi Strauss & Co.

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Levi Strauss & Co. by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,243,680 shares of the blue-jean maker's stock worth $88,014,000 after acquiring an additional 1,296,474 shares during the period. Vanguard Group Inc. lifted its holdings in Levi Strauss & Co. by 3.2% in the third quarter. Vanguard Group Inc. now owns 8,978,738 shares of the blue-jean maker's stock valued at $209,205,000 after acquiring an additional 277,835 shares during the period. Portolan Capital Management LLC purchased a new stake in Levi Strauss & Co. in the 3rd quarter worth approximately $4,991,000. GW&K Investment Management LLC purchased a new stake in Levi Strauss & Co. in the 3rd quarter worth approximately $39,322,000. Finally, Broad Peak Investment Advisers Pte Ltd grew its stake in shares of Levi Strauss & Co. by 66.5% during the 4th quarter. Broad Peak Investment Advisers Pte Ltd now owns 445,300 shares of the blue-jean maker's stock worth $9,236,000 after purchasing an additional 177,800 shares during the period. 69.14% of the stock is currently owned by institutional investors.

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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