Levi Strauss & Co. (NYSE:LEVI) Price Target Raised to $22.00

Levi Strauss & Co. (NYSE:LEVI) had its price target raised by Bank of America from $20.00 to $22.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the blue-jean maker’s stock.

LEVI has been the topic of several other research reports. Goldman Sachs Group downgraded shares of Levi Strauss & Co. from a neutral rating to a sell rating and reduced their price target for the company from $21.00 to $19.00 in a report on Wednesday, July 17th. ValuEngine raised shares of Levi Strauss & Co. from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Guggenheim reaffirmed a buy rating on shares of Levi Strauss & Co. in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $24.43.

Shares of NYSE LEVI traded down $0.14 on Wednesday, hitting $17.41. The company’s stock had a trading volume of 1,787,960 shares, compared to its average volume of 1,180,055. Levi Strauss & Co. has a 12-month low of $16.00 and a 12-month high of $24.50. The company has a quick ratio of 1.55, a current ratio of 2.37 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $18.02 and a 200-day moving average of $20.26.

Levi Strauss & Co. (NYSE:LEVI) last announced its quarterly earnings results on Tuesday, October 8th. The blue-jean maker reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Levi Strauss & Co. had a net margin of 6.85% and a return on equity of 37.44%. The company had revenue of $1.45 million for the quarter, compared to the consensus estimate of $1.44 billion. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Levi Strauss & Co. will post 1.07 EPS for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Thursday, October 17th. Investors of record on Saturday, October 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, October 3rd.

Several institutional investors and hedge funds have recently made changes to their positions in LEVI. Hall Kathryn A. purchased a new position in shares of Levi Strauss & Co. during the first quarter valued at approximately $137,211,000. Wells Fargo & Company MN lifted its stake in shares of Levi Strauss & Co. by 4,149.5% during the second quarter. Wells Fargo & Company MN now owns 3,269,980 shares of the blue-jean maker’s stock valued at $68,277,000 after buying an additional 3,193,030 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Levi Strauss & Co. by 43.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,592,606 shares of the blue-jean maker’s stock valued at $95,894,000 after buying an additional 1,392,606 shares during the period. Putnam Investments LLC lifted its stake in shares of Levi Strauss & Co. by 317.6% during the second quarter. Putnam Investments LLC now owns 1,318,981 shares of the blue-jean maker’s stock valued at $27,540,000 after buying an additional 1,003,152 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Levi Strauss & Co. by 33.2% during the second quarter. Vanguard Group Inc. now owns 3,405,875 shares of the blue-jean maker’s stock valued at $71,115,000 after buying an additional 848,954 shares during the period. 8.86% of the stock is currently owned by institutional investors and hedge funds.

About Levi Strauss & Co.

Levi Strauss & Co designs, markets, and sells jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories for men, women, and children. The company sells its products under the Levi's, Dockers, Signature by Levi Strauss & Co, and Denizen brands; and also licenses its Levi's and Dockers trademarks for various product categories, including footwear, belts, wallets and bags, outerwear, sweaters, dress shirts, kids wear, sleepwear, and hosiery.

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Analyst Recommendations for Levi Strauss & Co. (NYSE:LEVI)

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