Levi Strauss & Co. (NYSE:LEVI) Sees Significant Increase in Short Interest

Levi Strauss & Co. (NYSE:LEVI) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,710,000 shares, an increase of 10.2% from the December 15th total of 5,180,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is currently 3.1 days.

Levi Strauss & Co. Stock Down 1.2 %

Shares of LEVI stock traded down $0.21 during trading hours on Monday, reaching $17.37. 1,397,789 shares of the company’s stock were exchanged, compared to its average volume of 1,136,090. The stock’s 50 day moving average is $17.25 and its 200-day moving average is $18.22. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 45.70, a P/E/G ratio of 0.97 and a beta of 1.16. 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. has a fifty-two week low of $15.10 and a fifty-two week high of $24.34.

Analyst Ratings Changes

LEVI has been the subject of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price target on shares of Levi Strauss & Co. in a report on Wednesday, October 16th. TD Cowen lowered their price target on Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus lowered their target price on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Citigroup lowered their target price on Levi Strauss & Co. from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Levi Strauss & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Insider Activity

In other news, Director David A. Friedman sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.00, for a total transaction of $74,988.00. Following the transaction, the director now owns 104,178 shares of the company’s stock, valued at approximately $1,875,204. This represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.14% of the company’s stock.

Hedge Funds Weigh In On Levi Strauss & Co.

A number of large investors have recently made changes to their positions in LEVI. Brandes Investment Partners LP increased its position in shares of Levi Strauss & Co. by 1.8% in the 2nd quarter. Brandes Investment Partners LP now owns 42,745 shares of the blue-jean maker’s stock valued at $824,000 after acquiring an additional 743 shares during the period. Hunter Perkins Capital Management LLC increased its position in shares of Levi Strauss & Co. by 3.7% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 21,690 shares of the blue-jean maker’s stock valued at $473,000 after acquiring an additional 765 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Levi Strauss & Co. in the 3rd quarter valued at $27,000. 272 Capital LP acquired a new position in shares of Levi Strauss & Co. in the 2nd quarter valued at $35,000. Finally, nVerses Capital LLC increased its position in shares of Levi Strauss & Co. by 17.8% in the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the blue-jean maker’s stock valued at $259,000 after acquiring an additional 1,800 shares during the period. 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.