Levi Strauss & Co. (NYSE:LEVI) Shares Gap Up on Better-Than-Expected Earnings

Shares of Levi Strauss & Co. (NYSE:LEVI) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $13.50, but opened at $15.71. Levi Strauss & Co. shares last traded at $13.72, with a volume of 1,974,722 shares.

The blue-jean maker reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. Levi Strauss & Co. had a return on equity of 25.88% and a net margin of 3.32%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis.

Levi Strauss & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Thursday, April 24th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Thursday, April 24th. Levi Strauss & Co.’s dividend payout ratio is presently 58.43%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays cut their price target on shares of Levi Strauss & Co. from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their target price on Levi Strauss & Co. from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Telsey Advisory Group dropped their price target on Levi Strauss & Co. from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citigroup cut their price target on Levi Strauss & Co. from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Morgan Stanley dropped their target price on shares of Levi Strauss & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.36.

Insider Activity at Levi Strauss & Co.

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

Hedge Funds Weigh In On Levi Strauss & Co.

Several large investors have recently bought and sold shares of LEVI. Vanguard Group Inc. lifted its position in shares of Levi Strauss & Co. by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 8,824,983 shares of the blue-jean maker’s stock valued at $152,672,000 after purchasing an additional 133,978 shares in the last quarter. Wellington Management Group LLP increased its stake in Levi Strauss & Co. by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 6,673,056 shares of the blue-jean maker’s stock valued at $115,444,000 after buying an additional 81,435 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Levi Strauss & Co. by 53.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,916,568 shares of the blue-jean maker’s stock worth $33,157,000 after buying an additional 669,624 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Levi Strauss & Co. by 560.0% in the 4th quarter. Millennium Management LLC now owns 1,883,995 shares of the blue-jean maker’s stock worth $32,593,000 after buying an additional 1,598,523 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Levi Strauss & Co. by 15.8% in the fourth quarter. American Century Companies Inc. now owns 1,608,253 shares of the blue-jean maker’s stock valued at $27,823,000 after acquiring an additional 219,546 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors.

Levi Strauss & Co. Stock Up 20.7 %

The stock has a 50-day moving average of $16.72 and a 200 day moving average of $17.49. The company 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 quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.50.

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.