Levi Strauss & Co. (NYSE:LEVI) Sets New 52-Week Low Following Analyst Downgrade

Levi Strauss & Co. (NYSE:LEVI)’s stock price hit a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $17.00 to $16.00. Morgan Stanley currently has an equal weight rating on the stock. Levi Strauss & Co. traded as low as $12.33 and last traded at $12.52, with a volume of 14781837 shares traded. The stock had previously closed at $13.50.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Levi Strauss & Co. from $20.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Telsey Advisory Group cut their price target on Levi Strauss & Co. from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday. Barclays reduced their price target on Levi Strauss & Co. from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday. Guggenheim increased their price objective on Levi Strauss & Co. from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, UBS Group reduced their target price on Levi Strauss & Co. from $26.00 to $25.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Levi Strauss & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $19.36.

Insider Activity

In other news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $18.44, for a total transaction of $76,821.04. Following the sale, the director now owns 100,012 shares in the company, valued at approximately $1,844,221.28. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new position in shares of Levi Strauss & Co. in the 4th quarter worth about $991,000. Two Sigma Investments LP lifted its position in Levi Strauss & Co. by 511.8% in the 4th quarter. Two Sigma Investments LP now owns 127,046 shares of the blue-jean maker’s stock worth $2,198,000 after buying an additional 106,281 shares during the last quarter. Two Sigma Advisers LP lifted its position in Levi Strauss & Co. by 402.2% in the 4th quarter. Two Sigma Advisers LP now owns 349,500 shares of the blue-jean maker’s stock worth $6,046,000 after buying an additional 279,900 shares during the last quarter. Tidal Investments LLC boosted its stake in Levi Strauss & Co. by 3.6% in the fourth quarter. Tidal Investments LLC now owns 172,801 shares of the blue-jean maker’s stock worth $2,989,000 after buying an additional 6,065 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in Levi Strauss & Co. during the fourth quarter valued at approximately $1,034,000. Institutional investors own 69.14% of the company’s stock.

Levi Strauss & Co. Price Performance

The stock has a market capitalization of $5.93 billion, a PE ratio of 28.83, a P/E/G ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.42 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $16.72 and its 200 day simple moving average is $17.49.

Levi Strauss & Co. (NYSE:LEVI) last released its earnings results on Monday, April 7th. The blue-jean maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Levi Strauss & Co. had a net margin of 3.32% and a return on equity of 25.88%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. As a group, equities analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Thursday, April 24th will be issued a $0.13 dividend. The ex-dividend date is Thursday, April 24th. This represents a $0.52 annualized dividend and a dividend yield of 3.47%. Levi Strauss & Co.’s dividend payout ratio is currently 58.43%.

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.