Savoir Faire Capital Management L.P. Takes Position in Levi Strauss & Co. (NYSE:LEVI)

Savoir Faire Capital Management L.P. purchased a new stake in shares of Levi Strauss & Co. (NYSE:LEVI) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 208,048 shares of the blue-jean maker’s stock, valued at approximately $4,011,000. Levi Strauss & Co. makes up 1.6% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 28th largest position. Savoir Faire Capital Management L.P. owned approximately 0.05% of Levi Strauss & Co. at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEVI. Headlands Technologies LLC acquired a new position in shares of Levi Strauss & Co. in the 2nd quarter valued at approximately $135,000. nVerses Capital LLC bought a new position in Levi Strauss & Co. during the 2nd quarter valued at $195,000. Isthmus Partners LLC bought a new position in Levi Strauss & Co. during the 4th quarter valued at $270,000. BTC Capital Management Inc. acquired a new position in Levi Strauss & Co. during the 1st quarter worth $294,000. Finally, SG Americas Securities LLC increased its position in shares of Levi Strauss & Co. by 104.5% in the 2nd quarter. SG Americas Securities LLC now owns 16,547 shares of the blue-jean maker’s stock worth $319,000 after purchasing an additional 8,457 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Levi Strauss & Co. Price Performance

Shares of NYSE:LEVI opened at $19.48 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.77 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $18.56 and its two-hundred day moving average is $20.14. The firm has a market capitalization of $7.74 billion, a P/E ratio of 55.66, a PEG ratio of 1.13 and a beta of 1.14. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last released its quarterly earnings results on Wednesday, June 26th. The blue-jean maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.04 earnings per share. Analysts anticipate that Levi Strauss & Co. will post 1.25 earnings per share for the current year.

Levi Strauss & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.13 per share. This is a boost from Levi Strauss & Co.’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 2nd. This represents a $0.52 annualized dividend and a yield of 2.67%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 148.57%.

Analysts Set New Price Targets

Several brokerages have recently commented on LEVI. JPMorgan Chase & Co. reduced their price target on shares of Levi Strauss & Co. from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $26.00 target price on shares of Levi Strauss & Co. in a report on Thursday, June 27th. OTR Global initiated coverage on Levi Strauss & Co. in a research report on Friday, June 14th. They issued a “positive” rating for the company. Bank of America upped their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Finally, TD Cowen raised their price objective on Levi Strauss & Co. from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.38.

Insiders Place Their Bets

In other news, Director David A. Friedman sold 4,166 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $18.23, for a total value of $75,946.18. Following the completion of the transaction, the director now directly owns 158,344 shares in the company, valued at $2,886,611.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 12,498 shares of company stock worth $236,421. 3.14% of the stock is owned by corporate insiders.

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.