Quarry LP Makes New $56,000 Investment in Levi Strauss & Co. (NYSE:LEVI)

Quarry LP bought a new stake in Levi Strauss & Co. (NYSE:LEVI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,917 shares of the blue-jean maker’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LEVI. Vanguard Group Inc. raised its holdings in shares of Levi Strauss & Co. by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 8,555,997 shares of the blue-jean maker’s stock worth $171,034,000 after buying an additional 164,612 shares in the last quarter. Capital Research Global Investors grew its position in Levi Strauss & Co. by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,625,378 shares of the blue-jean maker’s stock valued at $109,584,000 after acquiring an additional 1,000,000 shares during the last quarter. Marshall Wace LLP raised its stake in Levi Strauss & Co. by 21.5% during the second quarter. Marshall Wace LLP now owns 4,274,326 shares of the blue-jean maker’s stock worth $82,409,000 after acquiring an additional 756,926 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Levi Strauss & Co. by 2,083.0% in the second quarter. Millennium Management LLC now owns 1,923,206 shares of the blue-jean maker’s stock worth $37,079,000 after acquiring an additional 1,835,107 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Levi Strauss & Co. by 2,070.8% in the 2nd quarter. American Century Companies Inc. now owns 1,431,518 shares of the blue-jean maker’s stock valued at $27,600,000 after purchasing an additional 1,365,574 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEVI has been the subject of a number of research analyst reports. OTR Global initiated coverage on shares of Levi Strauss & Co. in a research report on Friday, June 14th. They set a “positive” rating for the company. Bank of America increased their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their price objective on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus lowered their target price on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Levi Strauss & Co. has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Levi Strauss & Co. Price Performance

Levi Strauss & Co. stock opened at $19.82 on Friday. The stock’s 50 day moving average is $19.19 and its 200 day moving average is $20.34. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34. The firm has a market cap of $7.88 billion, a P/E ratio of 56.63, a P/E/G ratio of 1.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.42 and a quick ratio of 0.77.

Levi Strauss & Co. (NYSE:LEVI) last issued its quarterly earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.21%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts expect that Levi Strauss & Co. will post 1.25 EPS for the current year.

Levi Strauss & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. Levi Strauss & Co.’s dividend payout ratio (DPR) is currently 148.57%.

Insiders Place Their Bets

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $19.15, for a total value of $79,778.90. Following the completion of the sale, the director now directly owns 154,178 shares in the company, valued at approximately $2,952,508.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.15, for a total value of $79,778.90. Following the completion of the sale, the director now directly owns 154,178 shares in the company, valued at approximately $2,952,508.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Friedman sold 25,002 shares of Levi Strauss & Co. stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.00, for a total transaction of $500,040.00. Following the completion of the sale, the director now directly owns 229,176 shares of the company’s stock, valued at approximately $4,583,520. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,334 shares of company stock worth $655,765. Company insiders own 3.14% of the company’s stock.

Levi Strauss & Co. 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.