Levi Strauss & Co. (NYSE:LEVI) Hits New 52-Week High – Still a Buy?

Levi Strauss & Co. (NYSE:LEVIGet Free Report)’s share price hit a new 52-week high on Thursday . The stock traded as high as $25.58 and last traded at $24.5120, with a volume of 3247373 shares. The stock had previously closed at $24.83.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen raised Levi Strauss & Co. from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 11th. UBS Group upped their price objective on Levi Strauss & Co. from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Citigroup increased their target price on Levi Strauss & Co. from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Levi Strauss & Co. in a research note on Wednesday, April 8th. Finally, TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.93.

Read Our Latest Stock Analysis on Levi Strauss & Co.

Levi Strauss & Co. Stock Performance

The firm’s 50 day simple moving average is $22.87 and its 200 day simple moving average is $21.52. The firm has a market cap of $9.43 billion, a PE ratio of 15.61, a PEG ratio of 1.87 and a beta of 1.32. 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. (NYSE:LEVIGet Free Report) last issued its earnings results on Tuesday, April 7th. The blue-jean maker reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. On average, research analysts forecast that Levi Strauss & Co. will post 1.5 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Levi Strauss & Co.’s dividend payout ratio is 35.67%.

Insider Activity

In related news, EVP Karyn Hillman sold 38,938 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.91, for a total value of $892,069.58. Following the completion of the transaction, the executive vice president directly owned 91,522 shares of the company’s stock, valued at approximately $2,096,769.02. This trade represents a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder E. Haas Jr. Family Fund Peter sold 145,662 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.01, for a total transaction of $3,497,344.62. Following the completion of the sale, the insider owned 145,662 shares in the company, valued at $3,497,344.62. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,468,570 shares of company stock worth $34,136,152. 1.08% of the stock is owned by corporate insiders.

Institutional Trading of Levi Strauss & Co.

A number of large investors have recently made changes to their positions in LEVI. Measured Wealth Private Client Group LLC bought a new position in shares of Levi Strauss & Co. in the 4th quarter valued at about $26,000. US Bancorp DE lifted its stake 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 valued at $26,000 after purchasing an additional 810 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Levi Strauss & Co. by 140.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,425 shares of the blue-jean maker’s stock worth $26,000 after purchasing an additional 833 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Levi Strauss & Co. in the 4th quarter worth approximately $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Levi Strauss & Co. by 133.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286 shares of the blue-jean maker’s stock valued at $51,000 after purchasing an additional 1,879 shares during the last quarter. 69.14% of the stock is currently owned by institutional investors.

About Levi Strauss & Co.

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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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