Levi Strauss & Co. (NYSE:LEVI) Posts Earnings Results, Beats Estimates By $0.04 EPS

Levi Strauss & Co. (NYSE:LEVI) released its earnings results on Wednesday. The blue-jean maker reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04, FiscalAI reports. Levi Strauss & Co. had a net margin of 9.52% and a return on equity of 25.35%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion.

Levi Strauss & Co. Price Performance

LEVI traded down $0.28 during trading hours on Wednesday, hitting $24.38. The company’s stock had a trading volume of 5,765,930 shares, compared to its average volume of 2,677,877. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.85 and a beta of 1.33. The business’s 50-day moving average price is $23.02 and its 200-day moving average price is $21.60. 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 12 month low of $17.72 and a 12 month high of $25.58.

Insider Buying and Selling at Levi Strauss & Co.

In other Levi Strauss & Co. news, major shareholder Robert D. Haas sold 488,851 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.11, for a total transaction of $11,786,197.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of Levi Strauss & Co. stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.01, for a total value of $3,497,344.62. Following the completion of the transaction, the insider owned 145,662 shares of the company’s stock, valued at approximately $3,497,344.62. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,468,570 shares of company stock valued at $34,136,152 over the last ninety days. Corporate insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Levi Strauss & Co. during the fourth quarter valued at approximately $203,000. Amundi purchased a new stake in shares of Levi Strauss & Co. in the fourth quarter valued at approximately $225,000. Captrust Financial Advisors bought a new position in Levi Strauss & Co. in the fourth quarter worth approximately $208,000. MML Investors Services LLC bought a new position in Levi Strauss & Co. in the fourth quarter worth approximately $209,000. Finally, Bank of Montreal Can purchased a new position in Levi Strauss & Co. during the 4th quarter worth $220,000. Institutional investors own 69.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LEVI shares. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Citigroup upped their target price on shares of Levi Strauss & Co. from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. JPMorgan Chase & Co. raised their price target on Levi Strauss & Co. from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Telsey Advisory Group increased their target price on Levi Strauss & Co. from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen raised Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a research note on Saturday, April 11th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.21.

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.