LPL Financial LLC boosted its holdings in shares of Levi Strauss & Co. (NYSE:LEVI – Free Report) by 63.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,659 shares of the blue-jean maker’s stock after purchasing an additional 30,973 shares during the quarter. LPL Financial LLC’s holdings in Levi Strauss & Co. were worth $1,149,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEVI. FMR LLC raised its stake in Levi Strauss & Co. by 67,921.3% during the 1st quarter. FMR LLC now owns 5,420,619 shares of the blue-jean maker’s stock valued at $98,818,000 after purchasing an additional 5,412,650 shares during the period. Marshall Wace LLP raised its stake in Levi Strauss & Co. by 724.6% during the 4th quarter. Marshall Wace LLP now owns 1,574,260 shares of the blue-jean maker’s stock valued at $24,433,000 after purchasing an additional 1,383,339 shares during the period. Wellington Management Group LLP raised its stake in Levi Strauss & Co. by 20.5% during the 1st quarter. Wellington Management Group LLP now owns 6,365,036 shares of the blue-jean maker’s stock valued at $125,773,000 after purchasing an additional 1,084,969 shares during the period. Macquarie Group Ltd. raised its stake in Levi Strauss & Co. by 11.7% during the 1st quarter. Macquarie Group Ltd. now owns 5,989,518 shares of the blue-jean maker’s stock valued at $109,189,000 after purchasing an additional 626,601 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Levi Strauss & Co. by 141.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,059,996 shares of the blue-jean maker’s stock valued at $15,296,000 after purchasing an additional 621,653 shares during the period. Institutional investors own 19.01% of the company’s stock.
Insider Activity at Levi Strauss & Co.
In related news, EVP Elizabeth T. O’neill sold 17,106 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $15.00, for a total transaction of $256,590.00. Following the completion of the transaction, the executive vice president now owns 97,199 shares in the company, valued at approximately $1,457,985. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.77% of the stock is owned by company insiders.
Levi Strauss & Co. Stock Performance
Levi Strauss & Co. (NYSE:LEVI – Get Free Report) last released its earnings results on Thursday, October 5th. The blue-jean maker reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.54 billion. Levi Strauss & Co. had a return on equity of 20.58% and a net margin of 4.46%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Sell-side analysts predict that Levi Strauss & Co. will post 1.09 earnings per share for the current year.
Levi Strauss & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 26th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, October 25th. Levi Strauss & Co.’s payout ratio is currently 69.57%.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Telsey Advisory Group reduced their price objective on Levi Strauss & Co. from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, October 6th. TD Cowen assumed coverage on Levi Strauss & Co. in a research note on Wednesday, September 27th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Levi Strauss & Co. from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 25th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.90.
About Levi Strauss & Co.
Levi Strauss & Co engages in the design, marketing, and sale of apparels and related accessories for men, women, and children in the Americas, Europe, and Asia. It offers jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related products under the Levi's, Dockers, Beyond Yoga, Signature by Levi Strauss & Co, and Denizen brands.
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