Morgan Stanley Cuts Levi Strauss & Co. (NYSE:LEVI) Price Target to $18.00

Levi Strauss & Co. (NYSE:LEVI) had its price objective reduced by Morgan Stanley from $19.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the blue-jean maker’s stock. Morgan Stanley’s target price would indicate a potential upside of 2.19% from the stock’s current price.

A number of other brokerages have also weighed in on LEVI. Citigroup decreased their price objective on Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Barclays assumed coverage on shares of Levi Strauss & Co. in a research report on Wednesday, January 8th. They set an “overweight” rating and a $24.00 price target on the stock. TD Cowen cut their price objective on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.30.

Levi Strauss & Co. Stock Performance

NYSE LEVI opened at $17.61 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.41 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $17.29 and its 200-day simple moving average is $18.20. The company has a market cap of $6.99 billion, a PE ratio of 46.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. Levi Strauss & Co. has a 1-year low of $15.16 and a 1-year high of $24.34.

Insider Buying and Selling at Levi Strauss & Co.

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.00, for a total transaction of $74,988.00. Following the completion of the sale, the director now directly owns 104,178 shares in the company, valued at $1,875,204. This trade represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of hedge funds have recently made changes to their positions in the stock. Hunter Perkins Capital Management LLC lifted its stake in Levi Strauss & Co. by 93.8% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 42,025 shares of the blue-jean maker’s stock worth $727,000 after purchasing an additional 20,335 shares in the last quarter. KBC Group NV grew its stake in shares of Levi Strauss & Co. by 0.8% in the fourth quarter. KBC Group NV now owns 114,442 shares of the blue-jean maker’s stock valued at $1,980,000 after buying an additional 892 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Levi Strauss & Co. by 32.9% in the 4th quarter. SG Americas Securities LLC now owns 12,103 shares of the blue-jean maker’s stock valued at $209,000 after buying an additional 2,998 shares during the period. Matrix Trust Co boosted its holdings in Levi Strauss & Co. by 678.9% during the 4th quarter. Matrix Trust Co now owns 5,507 shares of the blue-jean maker’s stock valued at $95,000 after acquiring an additional 4,800 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Levi Strauss & Co. by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,230,069 shares of the blue-jean maker’s stock valued at $26,816,000 after acquiring an additional 20,426 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Levi Strauss & Co. Company Profile

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.