Levi Strauss & Co. (NYSE:LEVI) Given New $16.00 Price Target at Morgan Stanley

Levi Strauss & Co. (NYSE:LEVI) had its target price reduced by Morgan Stanley from $17.00 to $16.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the blue-jean maker’s stock.

LEVI has been the topic of several other reports. JPMorgan Chase & Co. upgraded shares of Levi Strauss & Co. from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $19.00 to $17.00 in a research report on Tuesday. UBS Group decreased their price objective 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. Barclays cut their price objective on shares of Levi Strauss & Co. from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday. Telsey Advisory Group lowered their target price on shares of Levi Strauss & Co. from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Guggenheim increased their price objective on shares of Levi Strauss & Co. from $20.00 to $22.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.18.

Levi Strauss & Co. Stock Performance

Shares of NYSE LEVI traded down $0.60 during midday trading on Wednesday, hitting $14.33. The company’s stock had a trading volume of 2,524,342 shares, compared to its average volume of 2,151,912. The firm has a market cap of $5.67 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.92 and a beta of 1.07. Levi Strauss & Co. has a 1-year low of $12.17 and a 1-year high of $24.34. The firm’s fifty day moving average price is $16.72 and its 200-day moving average price is $17.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.42.

Levi Strauss & Co. (NYSE:LEVI) last announced its quarterly earnings results on Monday, April 7th. The blue-jean maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm earned $0.26 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Thursday, April 24th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.63%. The ex-dividend date is Thursday, April 24th. Levi Strauss & Co.’s dividend payout ratio (DPR) is currently 58.43%.

Insider Activity

In related news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 100,012 shares in the company, valued at approximately $1,844,221.28. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.25% of the company’s stock.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new position in shares of Levi Strauss & Co. in the fourth quarter worth $991,000. Two Sigma Investments LP increased 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 purchasing an additional 106,281 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Levi Strauss & Co. by 402.2% during the 4th quarter. Two Sigma Advisers LP now owns 349,500 shares of the blue-jean maker’s stock worth $6,046,000 after purchasing an additional 279,900 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Levi Strauss & Co. by 3.6% during the 4th quarter. Tidal Investments LLC now owns 172,801 shares of the blue-jean maker’s stock valued at $2,989,000 after buying an additional 6,065 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Levi Strauss & Co. in the 4th quarter valued at approximately $1,034,000. 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.