Nomura Asset Management Co. Ltd. grew its holdings in Levi Strauss & Co. (NYSE:LEVI – Free Report) by 59.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,493 shares of the blue-jean maker’s stock after purchasing an additional 103,214 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Levi Strauss & Co. were worth $5,714,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE increased its holdings in shares of Levi Strauss & Co. by 260.5% in the 3rd quarter. US Bancorp DE now owns 1,121 shares of the blue-jean maker’s stock worth $26,000 after purchasing an additional 810 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Levi Strauss & Co. in the 4th quarter worth $26,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Levi Strauss & Co. by 140.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker’s stock worth $26,000 after acquiring an additional 833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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, LSV Asset Management bought a new stake in shares of Levi Strauss & Co. in the third quarter worth $117,000. Institutional investors own 69.14% of the company’s stock.
Insider Buying and Selling at Levi Strauss & Co.
In other Levi Strauss & Co. news, major shareholder E. Haas Jr. Family Fund Peter sold 4,338 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.00, for a total transaction of $104,112.00. Following the completion of the sale, the insider owned 4,338 shares of the company’s stock, valued at approximately $104,112. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Robert D. Haas sold 5,832 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $24.00, for a total value of $139,968.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 783,154 shares of company stock valued at $17,630,460 in the last ninety days. 1.08% of the stock is currently owned by company insiders.
Levi Strauss & Co. Stock Performance
Levi Strauss & Co. (NYSE:LEVI – Get Free Report) last released its quarterly earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. Levi Strauss & Co. had a return on equity of 25.35% and a net margin of 9.52%.The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. Levi Strauss & Co.’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Levi Strauss & Co. will post 1.5 EPS for the current year.
Levi Strauss & Co. Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.’s payout ratio is currently 35.67%.
Wall Street Analyst Weigh In
Several brokerages recently commented on LEVI. UBS Group lifted their price objective on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Wall Street Zen raised Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Levi Strauss & Co. in a report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.79.
Read Our Latest Analysis on LEVI
Levi Strauss & Co. Profile
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.
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