Williams-Sonoma (NYSE:WSM) Upgraded by Piper Sandler to Strong-Buy Rating

Piper Sandler upgraded shares of Williams-Sonoma (NYSE:WSM) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group upgraded Williams-Sonoma from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $218.00 in a report on Monday, April 13th. Citigroup decreased their price target on Williams-Sonoma from $208.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings downgraded Williams-Sonoma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Barclays set a $190.00 price objective on Williams-Sonoma and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, Bank of America initiated coverage on Williams-Sonoma in a research note on Friday, June 12th. They issued a “buy” rating and a $250.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.47.

Williams-Sonoma Stock Up 3.4%

Shares of NYSE:WSM opened at $234.45 on Monday. The stock has a market cap of $27.61 billion, a PE ratio of 26.25, a PEG ratio of 2.48 and a beta of 1.49. The company’s fifty day moving average is $217.09 and its 200 day moving average is $202.97. Williams-Sonoma has a 52 week low of $165.51 and a 52 week high of $244.65.

Williams-Sonoma (NYSE:WSM) last posted its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.13. Williams-Sonoma had a net margin of 13.81% and a return on equity of 53.29%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business posted $1.85 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Williams-Sonoma will post 9.39 EPS for the current year.

Williams-Sonoma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, July 17th. Williams-Sonoma’s dividend payout ratio (DPR) is currently 34.04%.

Insider Activity

In related news, CEO Laura Alber sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $172.61, for a total transaction of $3,452,200.00. Following the completion of the transaction, the chief executive officer directly owned 938,524 shares in the company, valued at approximately $161,998,627.64. The trade was a 2.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 1,112 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $228.49, for a total transaction of $254,080.88. Following the sale, the executive vice president owned 21,717 shares in the company, valued at approximately $4,962,117.33. The trade was a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,634 shares of company stock valued at $6,812,283 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Williams-Sonoma

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Williams-Sonoma in the 4th quarter worth $25,000. Atlantic Union Bankshares Corp boosted its stake in shares of Williams-Sonoma by 51.5% in the fourth quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 50 shares during the period. Ballast Advisors LLC purchased a new stake in shares of Williams-Sonoma during the first quarter worth about $30,000. MidFirst Bank purchased a new stake in shares of Williams-Sonoma during the fourth quarter worth about $30,000. Finally, Millstone Evans Group LLC grew its position in shares of Williams-Sonoma by 229.4% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

About Williams-Sonoma

Williams?Sonoma, Inc is a specialty retailer focused on the home and culinary markets, best known for premium cookware, kitchen tools and home furnishings. The company traces its roots to a single cookware store founded by Chuck Williams in 1956 in Sonoma, California, and has evolved into a multi?brand home furnishings and housewares business. Its merchandise mix spans cookware and kitchen electrics, tabletop and food prep items, furniture, bedding, lighting and decorative accessories designed for both everyday use and higher?end interiors.

The company operates a portfolio of consumer brands that target distinct segments of the home market.