Citigroup Inc. has recently reported a substantial increase in its holdings of Levi Strauss & Co. (NYSE:LEVI), raising its shares by 34.5% during the fourth quarter. According to the company’s most recent 13F filing with the Securities & Exchange Commission, Citigroup Inc. now holds 130,856 shares of Levi Strauss & Co.’s stock, amounting to $2,031,000 as of its latest filing on February 16th.
This news comes after Levi Strauss & Co. announced its earnings results on Thursday April 6th and reported an earning per share (EPS) of $0.34 for the quarter, outperforming analyst expectations of $0.32 by $0.02. The company’s revenue for that quarter was at $1.69 billion, higher than projections of $1.61 billion and a significant increase compared to the same period last year.
Levi Strauss & Co., founded in 1853 by Levi Strauss himself, is known for designing and marketing apparel products such as jeans, pants, tops, skirts, jackets and accessories under its own self-titled brand name.
The San Francisco-based company operates in multiple global regions including North America (Americas), Europe and Asia which helps them reach a diverse consumer base across the world.
As analysts speculate on the future direction of this iconic brand giant in fashion industry- with current projections being at 1.29 EPS for the current fiscal year-, there is no doubt that investors like Citigroup Inc.’s backing will continue to boost their confidence as they look forward to what we believe will be an exciting era ahead for Levi Strauss & Co., from securing product placements to expanding their manufacturing bases globally while continuing to strengthen their online presence and customer engagement strategies alike.
Analyzing the State of Levi Strauss & Co.: Hedge Funds Invest Amid Analyst Downgrades
Levi Strauss & Co. is a renowned company engaged in the sale of apparel products, including jeans, casual and dress pants, tops, skirts, shorts, jackets, footwear, and related accessories. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco. Levi Strauss & Co. operates through three geographical segments- Americas, Europe, and Asia.
Looking into the latest reports on Levi Strauss & Co., hedge funds and other institutional investors own a sizeable portion of the company’s stock- 18.76%. Other large investors have also recently added to or reduced their stakes in the company. Guyasuta Investment Advisors Inc., Macquarie Group Ltd., Jump Financial LLC, Capital Investment Counsel Inc., and Twinbeech Capital LP are among the investors who have bought new stake or grown their holdings.
As of last Friday, shares of Levi Strauss & Co. were opening at $13.19 as per reports issued on May 4th that indicated shareholders will receive a quarterly dividend of $0.12 with an annualized dividend yield of 3.64%. The company’s market capitalization stands at $5.23 billion with a P/E ratio of 10.81.The stock has been relatively unstable throughout this year ranging between $12.80 – $20.49.
Recently some analysts downgraded their ratings exposing a few challenges for Levi Strauss & Co.’s future growth prospects.
TheStreet lowered its rating from “b-” to “c” while Wells Fargo cut its target price from $20 to $18 while maintaining an “overweight” rating on the stock.
However, not all views are pessimistic as Stifel Nicolaus still maintain a “buy” rating despite cutting down its target price from $20 to $19; Guggenheim also maintained its “buy” recommendation with a target price at $19.Hedge funds’ interest in investing and expanding holdings in Levi Strauss & Co. may be an indication that they believe the company has a strong future.
In conclusion, it has been a mixed bag for Levi Strauss & Co. this year with a few challenges highlighted by analysts, but interest from hedge funds is signaling stability and growth potential for the future.
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