Williams-Sonoma (NYSE:WSM) Reaches New 1-Year High – Here’s What Happened

Williams-Sonoma, Inc. (NYSE:WSM)’s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $274.45 and last traded at $267.4490, with a volume of 40,020 shares traded. The stock had previously closed at $270.08.

Analyst Upgrades and Downgrades

WSM has been the topic of several research reports. Evercore set a $255.00 price objective on shares of Williams-Sonoma in a research report on Tuesday, October 20th. Bank of America reiterated a “buy” rating and set a $261.00 target price (up from $250.00) on shares of Williams-Sonoma in a research report on Monday, August 24th. Wells Fargo & Company upped their price target on shares of Williams-Sonoma from $190.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Citigroup increased their target price on Williams-Sonoma from $252.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Guggenheim reissued a “neutral” rating on shares of Williams-Sonoma in a research note on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.17.

Williams-Sonoma Trading Down 1.8%

The business’s 50-day simple moving average is $238.58 and its 200 day simple moving average is $216.02. The company has a market capitalization of $29.90 billion, a P/E ratio of 25.99, a P/E/G ratio of 2.81 and a beta of 1.49.

Williams-Sonoma (NYSE:WSM) last issued its earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.93 billion. Williams-Sonoma had a return on equity of 53.48% and a net margin of 14.73%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 EPS. As a group, sell-side analysts predict that Williams-Sonoma, Inc. will post 9.50 EPS for the current fiscal year.

Williams-Sonoma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 16th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 16th. Williams-Sonoma’s dividend payout ratio (DPR) is currently 31.12%.

Insider Buying and Selling

In related news, CEO Laura Alber sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $221.20, for a total value of $7,742,000.00. Following the sale, the chief executive officer directly owned 853,524 shares in the company, valued at approximately $188,799,508.80. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 3,045 shares of Williams-Sonoma stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $220.61, for a total transaction of $671,757.45. Following the sale, the chief financial officer owned 34,138 shares of the company’s stock, valued at approximately $7,531,184.18. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,361 shares of company stock valued at $8,738,903 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Williams-Sonoma

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Williams-Sonoma during the second quarter valued at approximately $2,656,062,000. Aristotle Capital Management LLC raised its position in shares of Williams-Sonoma by 22.0% during the 1st quarter. Aristotle Capital Management LLC now owns 11,140,471 shares of the specialty retailer’s stock worth $2,031,242,000 after purchasing an additional 2,009,032 shares during the last quarter. State Street Corp grew its holdings in shares of Williams-Sonoma by 1.9% in the second quarter. State Street Corp now owns 5,906,785 shares of the specialty retailer’s stock valued at $1,376,872,000 after purchasing an additional 112,683 shares during the period. First Trust Advisors LP lifted its stake in Williams-Sonoma by 9.2% during the 1st quarter. First Trust Advisors LP now owns 2,664,580 shares of the specialty retailer’s stock worth $485,833,000 after acquiring an additional 224,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Williams-Sonoma by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,479,064 shares of the specialty retailer’s stock worth $269,640,000 after acquiring an additional 20,886 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company’s stock.

About Williams-Sonoma

Williams-Sonoma, Inc is a specialty retailer focused on home furnishings, kitchenware and related products. Its portfolio includes Williams Sonoma, Pottery Barn, Pottery Barn Kids and Teen, West Elm, Rejuvenation, and Mark and Graham, with offerings ranging from cookware and furniture to lighting, textiles, décor and gifts.

Founded in 1956 by Chuck Williams as a cookware shop in Sonoma, California, the company has grown into a multichannel retailer. It sells through its websites and retail stores, serving customers in North America and select international markets.

Laura Alber is the company’s chief executive officer.