Victory Capital Management Inc. Sells 64,817 Shares of Levi Strauss & Co. (NYSE:LEVI)

Victory Capital Management Inc. reduced its position in Levi Strauss & Co. (NYSE:LEVI - Free Report) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 512,312 shares of the blue-jean maker's stock after selling 64,817 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Levi Strauss & Co. worth $11,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEVI. Point72 Asset Management L.P. bought a new position in Levi Strauss & Co. during the 2nd quarter worth $8,552,000. Vanguard Group Inc. lifted its position in Levi Strauss & Co. by 2.0% in the first quarter. Vanguard Group Inc. now owns 8,555,997 shares of the blue-jean maker's stock worth $171,034,000 after purchasing an additional 164,612 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of Levi Strauss & Co. during the 2nd quarter valued at $3,219,000. Shellback Capital LP bought a new stake in shares of Levi Strauss & Co. in the 2nd quarter worth approximately $482,000. Finally, Armistice Capital LLC acquired a new position in shares of Levi Strauss & Co. in the second quarter worth about $6,690,000. 69.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LEVI shares. JPMorgan Chase & Co. boosted their price target on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Stifel Nicolaus cut their price objective on 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 reaffirmed an "outperform" rating and issued a $26.00 price target on shares of Levi Strauss & Co. in a research report on Wednesday, October 16th. Finally, TD Cowen reduced their price objective on Levi Strauss & Co. from $25.00 to $23.00 and set a "buy" rating for the company in a research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.75.

Insider Buying and Selling at Levi Strauss & Co.

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

Levi Strauss & Co. Stock Down 1.3 %

LEVI stock opened at $15.78 on Thursday. The business's 50 day simple moving average is $18.61 and its 200 day simple moving average is $19.75. Levi Strauss & Co. has a 1-year low of $14.70 and a 1-year high of $24.34. The firm has a market capitalization of $6.26 billion, a PE ratio of 41.53, a PEG ratio of 1.00 and a beta of 1.18. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54.

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

Levi Strauss & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.52 dividend on an annualized basis and a yield of 3.30%. Levi Strauss & Co.'s payout ratio is 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.