Levi Strauss & Co. (NYSE:LEVI) Given New $19.00 Price Target at Citigroup

Levi Strauss & Co. (NYSE:LEVI) had its price objective cut by Citigroup from $21.00 to $19.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the blue-jean maker’s stock.

A number of other brokerages also recently weighed in on LEVI. Stifel Nicolaus lowered their price objective on shares of Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. TD Cowen cut their target price on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Barclays initiated coverage on shares of Levi Strauss & Co. in a research report on Wednesday, January 8th. They set an “overweight” rating and a $24.00 price target for the company. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Levi Strauss & Co. Stock Performance

Shares of LEVI opened at $17.37 on Friday. The stock has a market capitalization of $6.89 billion, a PE ratio of 45.70, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The business’s fifty day moving average price is $17.25 and its 200 day moving average price is $18.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.41 and a quick ratio of 0.76. Levi Strauss & Co. has a 12-month low of $15.10 and a 12-month high of $24.34.

Insider Activity

In related news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.00, for a total transaction of $74,988.00. Following the completion of the transaction, the director now owns 104,178 shares of the company’s stock, valued at $1,875,204. This trade represents a 3.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Levi Strauss & Co. by 44.6% in the 3rd quarter. FMR LLC now owns 9,420,007 shares of the blue-jean maker’s stock worth $205,356,000 after purchasing an additional 2,907,099 shares during the last quarter. Millennium Management LLC grew its position in Levi Strauss & Co. by 2,083.0% in the second quarter. Millennium Management LLC now owns 1,923,206 shares of the blue-jean maker’s stock worth $37,079,000 after buying an additional 1,835,107 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Levi Strauss & Co. by 6,794.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,244,873 shares of the blue-jean maker’s stock valued at $24,001,000 after buying an additional 1,226,818 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Levi Strauss & Co. by 21.5% during the 2nd quarter. Marshall Wace LLP now owns 4,274,326 shares of the blue-jean maker’s stock valued at $82,409,000 after acquiring an additional 756,926 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Levi Strauss & Co. by 59.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,555,382 shares of the blue-jean maker’s stock worth $33,907,000 after acquiring an additional 579,460 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.

About Levi Strauss & Co.

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.