Levi Strauss & Co. (NYSE:LEVI) Issues Earnings Results

Levi Strauss & Co. (NYSE:LEVI) issued its quarterly earnings results on Wednesday. The blue-jean maker reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05, Briefing.com reports. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Levi Strauss & Co. updated its FY24 guidance to $1.17-1.27 EPS and its FY 2024 guidance to 1.170-1.270 EPS.

Levi Strauss & Co. Stock Performance

Levi Strauss & Co. stock opened at $19.28 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 1.42. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34. The stock’s 50 day moving average price is $22.50 and its 200 day moving average price is $19.31. The firm has a market capitalization of $7.67 billion, a PE ratio of 55.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19.

Levi Strauss & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 2nd. This is a positive change from Levi Strauss & Co.’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.70%. Levi Strauss & Co.’s payout ratio is 137.15%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEVI. Telsey Advisory Group reissued an “outperform” rating and issued a $26.00 price target on shares of Levi Strauss & Co. in a research note on Thursday. Bank of America raised their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group lifted their price objective on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price objective on Levi Strauss & Co. from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Morgan Stanley lifted their price objective on Levi Strauss & Co. from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Insiders Place Their Bets

In other Levi Strauss & Co. news, EVP Harmit J. Singh sold 346,555 shares of Levi Strauss & Co. stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total transaction of $7,696,986.55. Following the sale, the executive vice president now directly owns 525,337 shares in the company, valued at approximately $11,667,734.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Levi Strauss & Co. news, EVP Harmit J. Singh sold 346,555 shares of Levi Strauss & Co. stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total transaction of $7,696,986.55. Following the sale, the executive vice president now directly owns 525,337 shares in the company, valued at approximately $11,667,734.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bradley J. Haas sold 26,959 shares of Levi Strauss & Co. stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.14, for a total value of $542,954.26. The disclosure for this sale can be found here. Insiders have sold 772,263 shares of company stock worth $17,256,670 in the last three months. 3.14% of the stock is owned by insiders.

About Levi Strauss & Co.

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.