Levi Strauss & Co. (NYSE:LEVI) Reaches New 12-Month High Following Strong Earnings

Levi Strauss & Co. (NYSE:LEVI)’s stock price hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $22.00 and last traded at $21.75, with a volume of 2701748 shares traded. The stock had previously closed at $19.73.

The blue-jean maker reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. Levi Strauss & Co. had a return on equity of 29.22% and a net margin of 6.40%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

Levi Strauss & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 24th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Thursday, July 24th. This is a positive change from Levi Strauss & Co.’s previous quarterly dividend of $0.13. Levi Strauss & Co.’s payout ratio is currently 58.43%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LEVI. Stifel Nicolaus lifted their price target on Levi Strauss & Co. from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Levi Strauss & Co. from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Levi Strauss & Co. from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America boosted their target price on shares of Levi Strauss & Co. from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays upped their price objective on shares of Levi Strauss & Co. from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.82.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC lifted its position in shares of Levi Strauss & Co. by 101.5% during the first quarter. Golden State Wealth Management LLC now owns 2,210 shares of the blue-jean maker’s stock valued at $34,000 after purchasing an additional 1,113 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Levi Strauss & Co. in the first quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Levi Strauss & Co. by 35.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,109 shares of the blue-jean maker’s stock worth $49,000 after purchasing an additional 812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Levi Strauss & Co. by 133.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock worth $51,000 after acquiring an additional 1,879 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Levi Strauss & Co. in the 4th quarter valued at about $57,000. 69.14% of the stock is owned by institutional investors.

Levi Strauss & Co. Stock Up 11.0%

The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.86 and a beta of 1.15. The business’s 50 day moving average price is $17.90 and its 200 day moving average price is $17.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.89 and a current ratio of 1.50.

About Levi Strauss & Co.

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.