Levi Strauss & Co. (NYSE:LEVI) Updates FY 2024 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.170-1.270 for the period, compared to the consensus EPS estimate of 1.250. The company issued revenue guidance of $6.2 billion-$6.2 billion, compared to the consensus revenue estimate of $6.3 billion. Levi Strauss & Co. also updated its FY24 guidance to $1.17-1.27 EPS.

Levi Strauss & Co. Stock Down 2.9 %

NYSE LEVI traded down $0.63 on Wednesday, hitting $21.05. 6,115,029 shares of the company were exchanged, compared to its average volume of 2,216,208. The company has a current ratio of 1.42, a quick ratio of 0.77 and a debt-to-equity ratio of 0.51. The company has a market cap of $8.37 billion, a PE ratio of 60.63, a PEG ratio of 1.19 and a beta of 1.14. The stock has a fifty day moving average of $19.04 and a 200-day moving average of $20.33. Levi Strauss & Co. has a 12 month low of $12.41 and a 12 month high of $24.34.

Analysts Set New Price Targets

A number of brokerages recently commented on LEVI. JPMorgan Chase & Co. decreased their target price on Levi Strauss & Co. from $21.00 to $20.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Bank of America boosted their price objective on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a neutral rating in a report on Thursday, June 27th. Stifel Nicolaus increased their target price on Levi Strauss & Co. from $24.00 to $28.00 and gave the stock a buy rating in a report on Monday, June 24th. OTR Global began coverage on shares of Levi Strauss & Co. in a research note on Friday, June 14th. They set a positive rating for the company. Finally, TD Cowen dropped their price objective on shares of Levi Strauss & Co. from $26.00 to $25.00 and set a buy rating on the stock in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $23.25.

Insider Buying and Selling

In other Levi Strauss & Co. news, Director David A. Friedman sold 25,002 shares of Levi Strauss & Co. stock in a transaction that occurred 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 transaction, the director now owns 229,176 shares of the company’s stock, valued at approximately $4,583,520. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director David A. Friedman sold 25,002 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.00, for a total transaction of $500,040.00. Following the completion of the sale, the director now directly owns 229,176 shares of the company’s stock, valued at approximately $4,583,520. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.15, for a total transaction of $79,778.90. Following the completion of the transaction, the director now directly owns 154,178 shares in the company, valued at $2,952,508.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,334 shares of company stock worth $655,765. 3.14% of the stock is owned by insiders.

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.