Levi Strauss & Co. (NYSE:LEVI) Short Interest Update

Key Points

• Short interest rose 15.7% in April to 9,246,769 shares (about 2.4% of the float), with a days-to-cover of 2.1 based on average daily volume.
• Corporate insiders have been net sellers, disposing of 274,015 shares worth $6.31M over the past 90 days, including a 40,000-share sale by EVP Jason Gowans that cut his stake by 30.26%.
• Levi beat the quarter with $0.42 EPS vs. $0.37 expected and $1.74B revenue (+14.1% YoY); analysts show a consensus Moderate Buy with a $26.77 price target and the company pays a $0.14 quarterly dividend (2.5% yield).

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 9,246,769 shares, a growth of 15.7% from the March 31st total of 7,991,792 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 4,408,365 shares, the days-to-cover ratio is currently 2.1 days.

Insiders Place Their Bets

In other Levi Strauss & Co. news, SVP David Jedrzejek sold 2,248 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $19.60, for a total transaction of $44,060.80. Following the transaction, the senior vice president owned 106,818 shares in the company, valued at approximately $2,093,632.80. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason Gowans sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $21.83, for a total value of $873,200.00. Following the transaction, the executive vice president owned 92,199 shares in the company, valued at $2,012,704.17. This represents a 30.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 274,015 shares of company stock worth $6,311,221. 1.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. acquired a new position in shares of Levi Strauss & Co. during the 3rd quarter worth about $2,540,000. Envestnet Asset Management Inc. boosted its position in shares of Levi Strauss & Co. by 2,268.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 238,883 shares of the blue-jean maker's stock worth $5,566,000 after acquiring an additional 228,796 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Levi Strauss & Co. during the 3rd quarter worth about $2,478,000. Vanguard Group Inc. boosted its position in shares of Levi Strauss & Co. by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,978,738 shares of the blue-jean maker's stock worth $209,205,000 after acquiring an additional 277,835 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Levi Strauss & Co. by 46.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 238,828 shares of the blue-jean maker's stock worth $5,565,000 after acquiring an additional 75,623 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LEVI. BTIG Research restated a "buy" rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, April 8th. Wall Street Zen upgraded Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 11th. UBS Group raised their target price on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Jefferies Financial Group began coverage on Levi Strauss & Co. in a research report on Wednesday, February 4th. They issued a "buy" rating and a $25.00 target price on the stock. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $27.00 target price on shares of Levi Strauss & Co. in a research report on Wednesday, April 1st. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Levi Strauss & Co. currently has an average rating of "Moderate Buy" and a consensus price target of $26.77.

Levi Strauss & Co. Price Performance

NYSE:LEVI opened at $22.34 on Friday. Levi Strauss & Co. has a 52 week low of $15.79 and a 52 week high of $24.82. 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 company has a market capitalization of $8.59 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.65 and a beta of 1.34. The stock's fifty day moving average is $20.57 and its two-hundred day moving average is $20.99.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. Equities analysts expect that Levi Strauss & Co. will post 1.5 EPS for the current year.

Levi Strauss & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.5%. Levi Strauss & Co.'s payout ratio is presently 35.67%.

About Levi Strauss & Co.

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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