Citigroup Inc. Raises Position in Levi Strauss & Co. (NYSE:LEVI)

Posted by AM Reporter Staff on May 26th, 2023

Citigroup Inc. increased its holdings in Levi Strauss & Co. (NYSE:LEVI – Get Rating) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,856 shares of the blue-jean maker’s stock after purchasing an additional 33,570 shares during the quarter. Citigroup Inc.’s holdings in Levi Strauss & Co. were worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Guyasuta Investment Advisors Inc. bought a new stake in Levi Strauss & Co. in the 4th quarter worth $210,000. Macquarie Group Ltd. grew its holdings in Levi Strauss & Co. by 0.6% in the 3rd quarter. Macquarie Group Ltd. now owns 5,201,875 shares of the blue-jean maker’s stock worth $75,283,000 after acquiring an additional 32,502 shares during the last quarter. Jump Financial LLC grew its holdings in Levi Strauss & Co. by 234.0% in the 3rd quarter. Jump Financial LLC now owns 43,644 shares of the blue-jean maker’s stock worth $631,000 after acquiring an additional 30,575 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in Levi Strauss & Co. by 19.3% in the 4th quarter. Capital Investment Counsel Inc now owns 13,300 shares of the blue-jean maker’s stock worth $206,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Twinbeech Capital LP bought a new stake in Levi Strauss & Co. in the 3rd quarter worth $959,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Levi Strauss & Co. Stock Up 0.5 %

Shares of Levi Strauss & Co. stock opened at $13.19 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.74 and a current ratio of 1.49. The stock has a market capitalization of $5.23 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. Levi Strauss & Co. has a 52-week low of $12.80 and a 52-week high of $20.49. The company has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $16.11.

Levi Strauss & Co. (NYSE:LEVI – Get Rating) last issued its earnings results on Thursday, April 6th. The blue-jean maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Levi Strauss & Co. had a net margin of 7.79% and a return on equity of 29.59%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. On average, analysts anticipate that Levi Strauss & Co. will post 1.29 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Thursday, May 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.48 annualized dividend and a yield of 3.64%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 39.34%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TheStreet lowered shares of Levi Strauss & Co. from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Bank of America cut their target price on shares of Levi Strauss & Co. from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, April 7th. Stifel Nicolaus cut their target price on shares of Levi Strauss & Co. from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Guggenheim cut their target price on shares of Levi Strauss & Co. from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, April 10th. Finally, Wells Fargo & Company cut their target price on shares of Levi Strauss & Co. from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 10th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Levi Strauss & Co. has an average rating of “Moderate Buy” and an average price target of $19.00.

Levi Strauss & Co. Company Profile

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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.