Wellington Management Co. LLP has recently announced that it has increased stake in Levi Strauss & Co. (NYSE:LEVI) by 7.62%. After grabbing 8.63 million shares, the institutional investor is now in possession of 0.61 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 8.62% having worth around $142.68 million. Moreover, The Vanguard Group, Inc. increased its share by 84479.0 to have a control over 8.19 million shares. And Macquarie Investment Management B raised its holdings to 0.13 million shares by acquiring 6.27 million shares or 6.26% of the stake.
Levi Strauss & Co. (LEVI) concluded trading on Thursday at a closing price of $15.75, with 3.59 million shares of worth about $56.57 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.78% during that period and on Thursday, January 25 the price saw a gain of about 0.19%. Currently the company’s common shares owned by public are about 96.03M shares, out of which, 86.66M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 2,023,311 shares in 44 of the transactions. In 18 selling transactions, insiders dumped 283,751 shares.
American Funds Small Cap World Fu, Vanguard Explorer Fund, and Fidelity Low Priced Stock Fund are the top 3 mutual funds which are holding stakes in Levi Strauss & Co. American Funds Small Cap World Fu is currently holding 6.63 million shares of worth totaling $109.58 million. The company recently came buying 1.0 million shares which brought its stake up to 6.62% of the company’s outstanding shares. Vanguard Explorer Fund bought 0.63 million shares, after which its hold over company’s outstanding shares expand to 5.75%, leaving 5.75 million shares with the mutual fund that have a worth of about $95.11 million. Fidelity Low Priced Stock Fund, after buying 3.91 million shares, have now control over 3.91% of the stake in the company. It holds 0.72 million shares of worth $64.62 million.
However, the stock later moved at a day high price of 15.97, or with a gain of 0.19%. Stock saw a price change of 1.55% in past 5 days and over the past one month there was a price change of -4.14%. Year-to-date (YTD), LEVI shares are showing a performance of -4.78% which decreased to -5.80% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.41 but also hit the highest price of $19.35 during that period. The average intraday trading volume for Levi Strauss & Co. shares is 1.75 million. The stock is currently trading -1.81% below its 20-day simple moving average (SMA20), while that difference is up 0.72% for SMA50 and it goes to 8.83% higher than SMA200.
Wellington Management Co. LLP acquired 8.63 million shares of Levi Strauss & Co. having value of about $142.68 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 0.61 million shares in the company valued at close to $9620698.5, or have control over 7.62% stake in the company. Levi Strauss & Co. (NYSE: LEVI) currently have 96.03M outstanding shares and institutions hold larger chunk of about 20.07% of that. Holding of mutual funds in the company is about 52.34% while other institutional holders and individual stake holders have control over 9.25% and 28.87% of the stake respectively.
The stock has a current market capitalization of $6.25B and its 3Y-monthly beta is at 1.18. PE ratio of stock for trailing 12 months is 23.07, while it has posted earnings per share of $0.68 in the same period. Its PEG reads 4.35 and has Quick Ratio of 0.66 while making debt-to-equity ratio of 1.09. 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 2.21% while standing at 2.64% over the month.
Analysts are in expectations that Levi Strauss & Co. (LEVI) stock would likely to be making an EPS of $0.43 in the current quarter, while forecast for next quarter EPS is $0.39 and it is $1.33 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.38 which is $0.47 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 $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 20.52% while it is estimated to increase by 16.37% in next year. EPS is likely to shrink at an annualized rate of 5.30% for next 5-years, compared to annual growth of 14.38% made by the stock over the past 5-years.
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 Wells Fargo on January 16, 2024 offering an Equal weight rating for the stock and assigned a target price of $18 to it.
