Telsey Advisory Group Cuts Levi Strauss & Co. (NYSE:LEVI) Price Target to $23.00

Levi Strauss & Co. (NYSE:LEVI) had its target price reduced by analysts at Telsey Advisory Group from $26.00 to $23.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the blue-jean maker’s stock. Telsey Advisory Group’s price target points to a potential upside of 27.02% from the stock’s current price.

LEVI has been the subject of a number of other reports. Guggenheim reaffirmed a “buy” rating and issued a $23.00 target price on shares of Levi Strauss & Co. in a research note on Friday, January 24th. Wells Fargo & Company decreased their price objective on Levi Strauss & Co. from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Morgan Stanley cut their price objective on Levi Strauss & Co. from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, 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 research report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.36.

Levi Strauss & Co. Price Performance

NYSE LEVI opened at $18.11 on Thursday. Levi Strauss & Co. has a fifty-two week low of $15.62 and a fifty-two week high of $24.34. The stock’s 50-day moving average is $17.46 and its two-hundred day moving average is $18.17. 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 firm has a market cap of $7.18 billion, a P/E ratio of 47.65, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings data on Wednesday, January 29th. The blue-jean maker reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Levi Strauss & Co. had a return on equity of 24.43% and a net margin of 2.52%. On average, analysts anticipate that Levi Strauss & Co. will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.00, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Levi Strauss & Co.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in Levi Strauss & Co. by 44.6% during the 3rd quarter. FMR LLC now owns 9,420,007 shares of the blue-jean maker’s stock valued at $205,356,000 after purchasing an additional 2,907,099 shares in the last quarter. Millennium Management LLC increased its position in shares of Levi Strauss & Co. by 2,083.0% during the second quarter. Millennium Management LLC now owns 1,923,206 shares of the blue-jean maker’s stock worth $37,079,000 after acquiring an additional 1,835,107 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Levi Strauss & Co. by 59.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,555,382 shares of the blue-jean maker’s stock worth $33,907,000 after acquiring an additional 579,460 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Levi Strauss & Co. by 119.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,541,784 shares of the blue-jean maker’s stock valued at $26,858,000 after acquiring an additional 840,251 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake 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 purchasing an additional 20,426 shares during the last quarter. Institutional investors own 69.14% of the company’s stock.

About Levi Strauss & Co.

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.