Virtu Financial LLC Makes New $238,000 Investment in Levi Strauss & Co. (NYSE:LEVI)

Posted by Defense World Staff on Jul 27th, 2023

Virtu Financial LLC purchased a new position in shares of Levi Strauss & Co. (NYSE:LEVI – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,033 shares of the blue-jean maker’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in shares of Levi Strauss & Co. in the fourth quarter valued at about $43,000. Ameritas Advisory Services LLC acquired a new stake in shares of Levi Strauss & Co. in the first quarter valued at about $57,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Levi Strauss & Co. by 20.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,771 shares of the blue-jean maker’s stock valued at $74,000 after purchasing an additional 818 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Levi Strauss & Co. in the first quarter valued at about $93,000. Finally, Manchester Capital Management LLC purchased a new position in Levi Strauss & Co. in the fourth quarter valued at about $122,000. 19.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Levi Strauss & Co.

In other news, EVP Seth Jaffe sold 2,938 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $13.45, for a total transaction of $39,516.10. Following the completion of the sale, the executive vice president now owns 173,732 shares in the company, valued at approximately $2,336,695.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.77% of the stock is currently owned by corporate insiders.

Levi Strauss & Co. Stock Up 2.9 %

NYSE:LEVI opened at $14.75 on Thursday. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.58 and a beta of 1.19. Levi Strauss & Co. has a 1-year low of $12.80 and a 1-year high of $20.49. The company has a current ratio of 1.41, a quick ratio of 0.68 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $14.00 and its 200 day moving average price is $15.58.

Levi Strauss & Co. (NYSE:LEVI – Get Free Report) last issued its earnings results on Thursday, July 6th. The blue-jean maker reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Levi Strauss & Co. had a return on equity of 23.46% and a net margin of 7.12%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Levi Strauss & Co. will post 1.12 earnings per share for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Friday, August 4th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.48 annualized dividend and a dividend yield of 3.25%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 43.64%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TheStreet downgraded Levi Strauss & Co. from a “b-” rating to a “c” rating in a report on Wednesday, April 26th. Wells Fargo & Company reduced their target price on Levi Strauss & Co. from $18.00 to $15.00 in a report on Friday, July 7th. Stifel Nicolaus cut their price target on Levi Strauss & Co. from $19.00 to $17.00 in a report on Friday, July 7th. Citigroup cut their price target on Levi Strauss & Co. from $15.00 to $14.00 in a report on Friday, July 7th. Finally, Bank of America cut their price target on Levi Strauss & Co. from $16.00 to $14.00 in a report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.50.

Levi Strauss & Co. Profile

(Free Report)

Levi Strauss & Co engages in the design, marketing, and sale of apparels and related accessories for men, women, and children in the Americas, Europe, and Asia. It offers jeans, casual and dress pants, activewear, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related products under the Levi's, Dockers, Beyond Yoga, Signature by Levi Strauss & Co, and Denizen brands.