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

Levi Strauss & Co. (NYSE:LEVI) shares hit a new 52-week high on Tuesday . The company traded as high as $22.61 and last traded at $22.67, with a volume of 947180 shares trading hands. The stock had previously closed at $22.37.

Analyst Ratings Changes

Several research firms have recently weighed in on LEVI. Citigroup raised their target price on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Morgan Stanley boosted their price target on 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. Barclays reissued an “overweight” rating and set a $24.00 price target (up previously from $20.00) on shares of Levi Strauss & Co. in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on Levi Strauss & Co. from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Stifel Nicolaus increased their price target on Levi Strauss & Co. from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.45.

Levi Strauss & Co. Trading Up 1.3%

The business has a 50-day moving average of $20.38 and a 200-day moving average of $17.88. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.80 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.49.

Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly earnings data on Thursday, July 10th. The blue-jean maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Levi Strauss & Co. had a return on equity of 28.75% and a net margin of 6.40%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, research analysts forecast that Levi Strauss & Co. will post 1.27 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 24th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 24th. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. This is a positive change from Levi Strauss & Co.’s previous quarterly dividend of $0.13. Levi Strauss & Co.’s dividend payout ratio (DPR) is 54.90%.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of institutional investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. raised its position in Levi Strauss & Co. by 123,970.4% during the second quarter. Balyasny Asset Management L.P. now owns 3,163,649 shares of the blue-jean maker’s stock valued at $58,496,000 after purchasing an additional 3,166,203 shares in the last quarter. Millennium Management LLC grew its stake in shares of Levi Strauss & Co. by 65.1% in the first quarter. Millennium Management LLC now owns 3,110,200 shares of the blue-jean maker’s stock worth $48,488,000 after purchasing an additional 1,226,205 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Levi Strauss & Co. by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 2,189,815 shares of the blue-jean maker’s stock worth $34,139,000 after purchasing an additional 273,247 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Levi Strauss & Co. by 83.4% during the second quarter. Ameriprise Financial Inc. now owns 1,958,271 shares of the blue-jean maker’s stock valued at $36,208,000 after acquiring an additional 890,752 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Levi Strauss & Co. by 5.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,725,358 shares of the blue-jean maker’s stock valued at $32,558,000 after acquiring an additional 85,793 shares during the last quarter. 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.