JPMorgan Chase & Co. Lowers Levi Strauss & Co. (NYSE:LEVI) Price Target to $19.00

Levi Strauss & Co. (NYSE:LEVI) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $21.00 to $19.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the blue-jean maker’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.65% from the company’s current price.

Several other research firms have also issued reports on LEVI. Citigroup lowered their target price on shares of Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday. Morgan Stanley cut their price objective on Levi Strauss & Co. from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays assumed coverage on Levi Strauss & Co. in a research report on Wednesday, January 8th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Stifel Nicolaus reduced 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 research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Levi Strauss & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

Levi Strauss & Co. Stock Performance

LEVI opened at $17.82 on Friday. The firm has a fifty day moving average price of $17.29 and a 200 day moving average price of $18.20. Levi Strauss & Co. has a 1 year low of $15.16 and a 1 year high of $24.34. The stock has a market cap of $7.07 billion, a P/E ratio of 46.88, a P/E/G ratio of 0.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.41 and a quick ratio of 0.76.

Insider Buying and Selling

In related news, Director David A. Friedman sold 4,166 shares of the stock in a transaction that occurred on 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 owns 104,178 shares of the company’s stock, valued at approximately $1,875,204. This trade represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.14% of the stock is currently owned by company insiders.

Institutional Trading of Levi Strauss & Co.

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of Levi Strauss & Co. by 8.5% during the 2nd quarter. Sei Investments Co. now owns 228,913 shares of the blue-jean maker’s stock valued at $4,413,000 after acquiring an additional 17,889 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Levi Strauss & Co. in the 2nd quarter valued at about $265,000. Millennium Management LLC grew its stake in shares of Levi Strauss & Co. by 2,083.0% in the 2nd quarter. Millennium Management LLC now owns 1,923,206 shares of the blue-jean maker’s stock valued at $37,079,000 after buying an additional 1,835,107 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Levi Strauss & Co. by 6,794.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,244,873 shares of the blue-jean maker’s stock worth $24,001,000 after buying an additional 1,226,818 shares during the last quarter. Finally, Shellback Capital LP purchased a new stake in shares of Levi Strauss & Co. during the 2nd quarter valued at approximately $482,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

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.