Citigroup Cuts Levi Strauss & Co. (NYSE:LEVI) Price Target to $19.00

Levi Strauss & Co. (NYSE:LEVI) had its price target lowered by equities research analysts at Citigroup from $21.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the blue-jean maker’s stock. Citigroup’s price target would suggest a potential upside of 9.42% from the company’s current price.

LEVI has been the subject of several other research reports. Barclays started 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 objective for the company. TD Cowen dropped their price target 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. Telsey Advisory Group reissued an “outperform” rating and set a $26.00 price objective on shares of Levi Strauss & Co. in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus cut their target price on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Levi Strauss & Co. Stock Down 1.2 %

NYSE LEVI opened at $17.37 on Friday. The stock has a 50 day moving average price of $17.25 and a 200-day moving average price of $18.23. Levi Strauss & Co. has a one year low of $15.10 and a one year high of $24.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 1.41. The company has a market capitalization of $6.89 billion, a P/E ratio of 45.70, a P/E/G ratio of 0.97 and a beta of 1.16.

Insiders Place Their Bets

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.00, for a total value of $74,988.00. Following the completion of the sale, the director now directly owns 104,178 shares of the company’s stock, valued at $1,875,204. The trade was a 3.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.14% of the company’s stock.

Institutional Trading of Levi Strauss & Co.

A number of large investors have recently modified their holdings of LEVI. FMR LLC increased its holdings in Levi Strauss & Co. by 44.6% during 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 period. Marshall Wace LLP raised its holdings in shares of Levi Strauss & Co. by 21.5% in the second 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 in the last quarter. Millennium Management LLC lifted its stake 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 acquiring an additional 1,835,107 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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. Finally, The Manufacturers Life Insurance Company increased its position in Levi Strauss & Co. by 6,794.9% during the 2nd 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 purchasing an additional 1,226,818 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.

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.