Robert Haas Sells 488,851 Shares of Levi Strauss & Co. (NYSE:LEVI) Stock

Key Points

• Robert Haas, a major shareholder of Levi Strauss, sold 488,851 shares on June 11 in a pre-arranged Rule 10b5-1 transaction, generating about $11.8 million at an average price of $24.11.
• Levi Strauss stock traded up to $24.24, near its 52-week high of $24.82, and has risen above its 50-day and 200-day moving averages. The company now has a market cap of about $9.32 billion.
• The company’s latest earnings beat expectations, with EPS of $0.42 versus $0.37 expected and revenue of $1.74 billion topping estimates. Analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $26.79.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) major shareholder Robert Haas sold 488,851 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $24.11, for a total value of $11,786,197.61. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Levi Strauss & Co. Stock Performance

Shares of NYSE LEVI traded up $1.29 during midday trading on Thursday, reaching $24.24. 4,002,146 shares of the company were exchanged, compared to its average volume of 2,210,206. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Levi Strauss & Co. has a 1 year low of $16.50 and a 1 year high of $24.82. The stock has a fifty day simple moving average of $22.13 and a 200 day simple moving average of $21.31. The stock has a market cap of $9.32 billion, a P/E ratio of 15.44, a PEG ratio of 1.72 and a beta of 1.34.

Levi Strauss & Co. (NYSE:LEVI - Get Free Report) last released 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 firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company posted $0.38 earnings per share. The business's revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that Levi Strauss & Co. will post 1.51 earnings per share for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

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

Institutional Investors Weigh In On Levi Strauss & Co.

Several institutional investors have recently modified their holdings of LEVI. Measured Wealth Private Client Group LLC acquired a new position in shares of Levi Strauss & Co. during the 4th quarter worth approximately $26,000. US Bancorp DE raised its position in shares of Levi Strauss & Co. by 260.5% during the 3rd quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker's stock worth $26,000 after purchasing an additional 810 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Levi Strauss & Co. by 140.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker's stock worth $26,000 after purchasing an additional 833 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Levi Strauss & Co. during the 4th quarter worth approximately $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Levi Strauss & Co. by 133.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker's stock worth $51,000 after purchasing an additional 1,879 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Levi Strauss & Co. in a report on Monday, May 4th. BTIG Research reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Weiss Ratings raised Levi Strauss & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Wall Street Zen raised Levi Strauss & Co. from a "hold" rating to a "strong-buy" rating in a report on Saturday, April 11th. Finally, UBS Group lifted their price objective on Levi Strauss & Co. from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 8th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.79.

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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