Wellington Management Co. LLP has recently announced that it has increased stake in Levi Strauss & Co. (NYSE:LEVI) by 21.55%. After grabbing 7.74 million shares, the institutional investor is now in possession of 1.37 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 7.99% having worth around $115.74 million. Moreover, Macquarie Investment Management B increased its share by 84806.0 to have a control over 5.17 million shares. And Putnam Investment Management LLC raised its holdings to 0.19 million shares by acquiring 3.23 million shares or 3.33% of the stake.
Levi Strauss & Co. (LEVI) concluded trading on 11/17/22 at a closing price of $15.57, with 3.02 million shares of worth about $47.02 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.00% during that period and on Thursday the price saw a loss of about -0.76%. Currently the company’s common shares owned by public are about 397.12M shares, out of which, 93.89M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the LEVI stock and their offered price forecasts bring an average price target of $20.17. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $27.00 and could fall to a lowest price of $16.00. The stock’s current price level is 22.81% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.69% for the stock. However, touching the estimated high of $27.00 would mean a gain of 42.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 112 times over the past 12 months. They bought 5,397,369 shares in 69 of the transactions. In 43 selling transactions, insiders dumped 3,862,362 shares.
Parnassus Mid Cap Fund, Vanguard Explorer Fund, and Ivy Mid Cap Growth Fund are the top 3 mutual funds which are holding stakes in Levi Strauss & Co. Parnassus Mid Cap Fund is currently holding 6.54 million shares of worth totaling $97.79 million. The company recently came buying 0.69 million shares which brought its stake up to 6.75% of the company’s outstanding shares. Vanguard Explorer Fund bought 0.54 million shares, after which its hold over company’s outstanding shares expand to 4.01%, leaving 3.88 million shares with the mutual fund that have a worth of about $58.03 million. Ivy Mid Cap Growth Fund, after buying 3.85 million shares, have now control over 3.98% of the stake in the company. It holds 1.2 million shares of worth $57.64 million.
Levi Strauss & Co. (NYSE: LEVI) started trading at $15.46, below -$0.23 from concluding price of the previous day. However, the stock later moved at a day high price of 15.57, or with a loss of -0.76%. Stock saw a price change of 0.84% in past 5 days and over the past one month there was a price change of 9.49%. Year-to-date (YTD), LEVI shares are showing a performance of -37.79% which decreased to -44.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.57 but also hit the highest price of $28.62 during that period. The average intraday trading volume for Levi Strauss & Co. shares is 2.31 million. The stock is currently trading 2.85% above its 20-day simple moving average (SMA20), while that difference is down -0.50% for SMA50 and it goes to -14.02% lower than SMA200.
Wellington Management Co. LLP acquired 7.74 million shares of Levi Strauss & Co. having value of about $115.74 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 1.37 million shares in the company valued at close to $21360358.44, or have control over 21.55% stake in the company. Levi Strauss & Co. (NYSE: LEVI) currently have 397.12M outstanding shares and institutions hold larger chunk of about 78.80% of that. Holding of mutual funds in the company is about 53.68% while other institutional holders and individual stake holders have control over 6.58% and 23.19% of the stake respectively.
The stock has a current market capitalization of $5.81B and its 3Y-monthly beta is at 1.13. PE ratio of stock for trailing 12 months is 11.03, while it has posted earnings per share of $1.41 in the same period. Its PEG reads 2.08 and has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.53. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LEVI, volatility over the week remained 3.93% while standing at 3.84% over the month.
Analysts are in expectations that Levi Strauss & Co. (LEVI) stock would likely to be making an EPS of $0.3 in the current quarter, while forecast for next quarter EPS is $0.39 and it is $1.42 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.2 which is $0.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 522.10% while it is estimated to decrease by -2.34% in next year. EPS is likely to shrink at an annualized rate of 5.30% for next 5-years, compared to annual growth of 12.70% made by the stock over the past 5-years.
Analysts at 13 brokerage firms have issued recommendations for the Levi Strauss & Co. (LEVI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 13 Wall Street analysts, 11 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on August 04, 2022 offering an Equal-weight rating for the stock and assigned a target price of $19 to it. Coverage by JP Morgan stated Levi Strauss & Co. (LEVI) stock as an Overweight in their note to investors on January 27, 2022, suggesting a price target of $32 for the stock. On January 27, 2022, Citigroup Reiterated their recommendations, while on January 27, 2022, BofA Securities Reiterated their ratings for the stock with a price target of $32. Stock get a Buy rating from BofA Securities on January 14, 2022.