Cornercap Investment Counsel Inc. Acquires Shares of 14,373 Levi Strauss & Co. (NYSE:LEVI)

Cornercap Investment Counsel Inc. acquired a new stake in Levi Strauss & Co. (NYSE:LEVI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,373 shares of the blue-jean maker’s stock, valued at approximately $313,000.

Several other large investors also recently bought and sold shares of LEVI. Asset Management One Co. Ltd. acquired a new stake in shares of Levi Strauss & Co. during the third quarter worth approximately $27,000. 272 Capital LP acquired a new position in Levi Strauss & Co. in the second quarter worth $35,000. Quarry LP acquired a new position in Levi Strauss & Co. in the second quarter worth $56,000. Headlands Technologies LLC acquired a new position in Levi Strauss & Co. in the second quarter worth $135,000. Finally, nVerses Capital LLC bought a new stake in shares of Levi Strauss & Co. during the second quarter valued at about $195,000. Institutional investors and hedge funds own 69.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. TD Cowen dropped their target price on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Stifel Nicolaus dropped their target price on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Levi Strauss & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Insider Activity

In related news, Director David A. Friedman sold 25,002 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.00, for a total value of $500,040.00. Following the sale, the director now owns 229,176 shares in the company, valued at approximately $4,583,520. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.14% of the stock is currently owned by company insiders.

Levi Strauss & Co. Stock Performance

Levi Strauss & Co. stock opened at $16.57 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.41 and a quick ratio of 0.76. The stock has a fifty day moving average price of $18.80 and a two-hundred day moving average price of $19.86. Levi Strauss & Co. has a 52-week low of $14.70 and a 52-week high of $24.34. The firm has a market capitalization of $6.57 billion, a P/E ratio of 43.61, a P/E/G ratio of 1.03 and a beta of 1.18.

Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Levi Strauss & Co. had a return on equity of 24.43% and a net margin of 2.52%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. As a group, analysts anticipate that Levi Strauss & Co. will post 1.23 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Tuesday, October 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Tuesday, October 29th. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 136.85%.

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.