Levi Strauss & Co. (NYSE:LEVI) Position Cut by State Street Corp

State Street Corp lowered its position in shares of Levi Strauss & Co. (NYSE:LEVI) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 600,692 shares of the blue-jean maker’s stock after selling 7,388 shares during the period. State Street Corp’s holdings in Levi Strauss & Co. were worth $13,095,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Levi Strauss & Co. by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,838 shares of the blue-jean maker’s stock worth $460,000 after purchasing an additional 2,541 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Levi Strauss & Co. during the second quarter worth approximately $195,000. Acadian Asset Management LLC bought a new position in Levi Strauss & Co. in the 2nd quarter worth approximately $380,000. Quest Partners LLC acquired a new stake in Levi Strauss & Co. in the 2nd quarter valued at approximately $389,000. Finally, Headlands Technologies LLC bought a new stake in Levi Strauss & Co. during the 2nd quarter valued at $135,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Levi Strauss & Co. Stock Performance

NYSE:LEVI opened at $17.44 on Thursday. The company has a 50-day moving average of $17.29 and a 200-day moving average of $18.81. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 45.90, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54. Levi Strauss & Co. has a twelve month low of $14.87 and a twelve month high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last issued its earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Levi Strauss & Co. had a net margin of 2.52% and a return on equity of 24.43%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. Analysts forecast that Levi Strauss & Co. will post 1.23 earnings per share for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Tuesday, October 29th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, October 29th. Levi Strauss & Co.’s payout ratio is 136.85%.

Wall Street Analyst Weigh In

LEVI has been the subject of several recent analyst reports. TD Cowen decreased their price target on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Telsey Advisory Group restated an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Levi Strauss & Co. has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Insider Transactions at Levi Strauss & Co.

In other Levi Strauss & Co. news, Director David A. Friedman sold 8,332 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.00, for a total value of $149,976.00. Following the completion of the transaction, the director now directly owns 108,344 shares in the company, valued at $1,950,192. This trade represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.14% of the stock is owned by insiders.

Levi Strauss & Co. Company Profile

Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.