Levi Strauss & Co. (NYSE:LEVI) Sees Large Decline in Short Interest

Levi Strauss & Co. (NYSE:LEVI) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 7,570,000 shares, a decline of 14.6% from the May 31st total of 8,860,000 shares. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on LEVI. Stifel Nicolaus boosted their target price on Levi Strauss & Co. from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. decreased their price target on Levi Strauss & Co. from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday. Telsey Advisory Group restated 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 boosted 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. Finally, OTR Global started coverage on Levi Strauss & Co. in a research note on Friday, June 14th. They issued a “positive” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Levi Strauss & Co. Price Performance

Shares of NYSE LEVI traded down $0.06 during mid-day trading on Monday, reaching $19.22. The company’s stock had a trading volume of 3,035,477 shares, compared to its average volume of 2,478,614. The firm has a market capitalization of $7.65 billion, a PE ratio of 54.91, a P/E/G ratio of 1.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.42 and a quick ratio of 0.77. The stock has a fifty day moving average of $22.46 and a two-hundred day moving average of $19.39. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings data on Wednesday, June 26th. The blue-jean maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. 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 during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Levi Strauss & Co. will post 1.25 EPS for the current fiscal year.

Levi Strauss & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be paid 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 dividend on an annualized basis and a yield of 2.71%. Levi Strauss & Co.’s dividend payout ratio is presently 148.57%.

Insider Activity at Levi Strauss & Co.

In related 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 $11,667,734.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Levi Strauss & Co. news, Director David A. Friedman sold 12,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $21.23, for a total value of $265,375.00. Following the sale, the director now directly owns 187,508 shares of the company’s stock, valued at $3,980,794.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harmit J. Singh sold 346,555 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total value of $7,696,986.55. Following the completion of the sale, the executive vice president now directly owns 525,337 shares in the company, valued at $11,667,734.77. The disclosure for this sale can be found here. Insiders have sold 734,882 shares of company stock worth $16,505,276 over the last ninety days. 3.14% of the stock is owned by corporate insiders.

Hedge Funds 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 company. California State Teachers Retirement System boosted its stake in Levi Strauss & Co. by 1.0% during the first quarter. California State Teachers Retirement System now owns 85,129 shares of the blue-jean maker’s stock valued at $1,702,000 after buying an additional 851 shares during the last quarter. Strategic Advisors LLC raised its position in Levi Strauss & Co. by 7.0% during the fourth quarter. Strategic Advisors LLC now owns 19,900 shares of the blue-jean maker’s stock valued at $329,000 after purchasing an additional 1,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Levi Strauss & Co. by 6.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,297 shares of the blue-jean maker’s stock valued at $352,000 after purchasing an additional 1,319 shares during the period. KBC Group NV raised its position in Levi Strauss & Co. by 1.8% during the fourth quarter. KBC Group NV now owns 110,756 shares of the blue-jean maker’s stock valued at $1,832,000 after purchasing an additional 1,917 shares during the period. Finally, Evergreen Capital Management LLC raised its position in Levi Strauss & Co. by 1.4% during the third quarter. Evergreen Capital Management LLC now owns 152,262 shares of the blue-jean maker’s stock valued at $2,068,000 after purchasing an additional 2,096 shares during the period. 69.14% of the stock is owned by institutional investors.

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.