Levi Strauss & Co. (NYSE:LEVI) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 6,740,000 shares, an increase of 26.5% from the August 30th total of 5,330,000 shares. Based on an average daily trading volume, of 1,480,000 shares, the short-interest ratio is currently 4.6 days. Currently, 16.3% of the shares of the company are sold short.
Large investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Levi Strauss & Co. in the second quarter worth $58,000. Aperio Group LLC acquired a new stake in shares of Levi Strauss & Co. in the second quarter worth $62,000. Parallel Advisors LLC acquired a new stake in shares of Levi Strauss & Co. in the second quarter worth $96,000. Acadian Asset Management LLC acquired a new stake in shares of Levi Strauss & Co. in the second quarter worth $174,000. Finally, Royal Bank of Canada increased its stake in shares of Levi Strauss & Co. by 668.2% in the second quarter. Royal Bank of Canada now owns 13,520 shares of the blue-jean maker’s stock worth $282,000 after acquiring an additional 11,760 shares during the period. Hedge funds and other institutional investors own 8.86% of the company’s stock.
A number of research analysts have issued reports on the stock. ValuEngine raised shares of Levi Strauss & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group cut shares of Levi Strauss & Co. from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $21.00 to $19.00 in a report on Wednesday, July 17th. Bank of America raised their price target on shares of Levi Strauss & Co. from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Guggenheim reaffirmed a “buy” rating on shares of Levi Strauss & Co. in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.43.
Shares of NYSE LEVI traded down $0.14 during midday trading on Friday, reaching $17.41. The company had a trading volume of 1,787,960 shares, compared to its average volume of 1,180,055. The business’s 50-day simple moving average is $18.02 and its 200 day simple moving average is $20.26. Levi Strauss & Co. has a 1 year low of $16.00 and a 1 year high of $24.50. The company has a current ratio of 2.37, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69.
Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly earnings results on Tuesday, October 8th. The blue-jean maker reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The business had revenue of $1.45 million during the quarter, compared to analysts’ expectations of $1.44 billion. Levi Strauss & Co. had a net margin of 6.85% and a return on equity of 37.44%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Levi Strauss & Co. will post 1.07 earnings per share for the current year.
The firm also recently disclosed a — dividend, which will be paid on Thursday, October 17th. Stockholders of record on Saturday, October 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 3rd.
Levi Strauss & Co. Company Profile
Levi Strauss & Co designs, markets, and sells jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories for men, women, and children. The company sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co, and Denizen brands; and also licenses its Levi's and Dockers trademarks for various product categories, including footwear, belts, wallets and bags, outerwear, sweaters, dress shirts, kids wear, sleepwear, and hosiery.
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