Levi Strauss & Co. (NYSE:LEVI) director David A. Friedman has sold a total of 16,666 shares of the company's Class A Common Stock for a total value of nearly $399,000, according to a recent SEC filing. The shares were sold at a price of $23.94 each.
The transaction was executed on June 3, 2024, and was reported in a Form 4 filing with the Securities and Exchange Commission. The filing noted that the sale was made pursuant to a previously established Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for buying or selling stocks they own.
Following the sale, Friedman still holds a significant number of shares in the company. The SEC filing indicates that he owns 166,676 shares indirectly through the David A. Friedman 1993 Revocable Trust, where he serves as trustee. Additionally, he holds 42,897 shares directly.
Investors often monitor insider transactions as they can provide insights into how company executives view the stock's value and prospects. Sales under Rule 10b5-1 plans are typically viewed as less indicative of an insider’s belief about the company's future performance since the transactions are planned in advance to avoid any accusations of trading on inside information.
Levi Strauss & Co., based in San Francisco, is a global leader in jeanswear and has been expanding its apparel offerings in recent years. The company's stock is traded on the New York Stock Exchange under the ticker symbol LEVI.
InvestingPro Insights
Levi Strauss & Co. (NYSE:LEVI) has demonstrated a robust financial performance with a couple of notable highlights that investors may find pertinent. According to InvestingPro data, Levi's market capitalization stands at $9.45 billion, reflecting the scale of its operations within the apparel industry. The company's Price to Earnings (P/E) ratio has adjusted to 25.86 over the last twelve months as of Q1 2024, which may suggest a premium valuation compared to historical averages. Furthermore, Levi's solid gross profit margin of 57.54% over the same period underscores its ability to maintain profitability amidst market fluctuations.
An InvestingPro Tip worth mentioning is that Levi has raised its dividend for 5 consecutive years, indicating a commitment to returning value to shareholders consistently. Additionally, the company has been trading near its 52-week high, with a price that is 97.98% of this peak, showcasing investor confidence in the brand and its market position.
For readers interested in a deeper analysis, there are 11 additional InvestingPro Tips available for Levi Strauss & Co., which can be found at https://www.investing.com/pro/LEVI. These insights provide a comprehensive view of the company's financial health and future prospects. To access these valuable tips, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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