David A. Friedman, a director at Levi Strauss & Co . (NYSE:LEVI), recently sold 4,166 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $18 each, totaling $74,988. This transaction was conducted under a pre-established Rule 10b5-1 trading plan. Following the sale, Friedman holds 104,178 shares indirectly through the David A. Friedman 1993 Revocable Trust, where he acts as trustee. Additionally, he directly owns 43,009 shares of Levi Strauss & Co.
In other recent news, Levi Strauss & Co. has announced a significant amendment to its credit agreement, extending the term to November 2029 and modifying certain financial terms. This move comes alongside other recent developments, including the appointment of Daniel Geballe to the company's board of directors, effective April 2025.
In financial updates, Levi Strauss reported a 2% increase in net revenues and a noteworthy 5% global growth for the Levi's brand in its third-quarter fiscal 2024 earnings call. The company also highlighted record Q3 gross margins of 60% and a significant expansion in adjusted EBIT margin. However, the potential sale of its Dockers brand has been announced following a 15% decline in Dockers' sales in the third quarter.
Analyst firms have revised their outlook on the company. Morgan Stanley (NYSE:MS) reduced its price target for Levi Strauss, citing concerns about short-term sales risks. Similarly, TD Cowen lowered its price target, maintaining a Buy rating on the stock. These are among the recent developments that investors of Levi Strauss & Co. should note.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.