Williams-Sonoma (NYSE:WSM) Stock Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Williams-Sonoma, Inc. (NYSE:WSM)’s stock price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $213.67 and traded as high as $246.43. Williams-Sonoma shares last traded at $242.31, with a volume of 1,171,690 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WSM. Jefferies Financial Group set a $275.00 target price on shares of Williams-Sonoma in a research note on Wednesday, August 26th. Guggenheim restated a “neutral” rating on shares of Williams-Sonoma in a research note on Thursday, August 27th. Credit Suisse Group set a $261.00 target price on shares of Williams-Sonoma in a report on Monday, August 24th. KeyCorp reiterated an “overweight” rating and issued a $270.00 target price (up from $250.00) on shares of Williams-Sonoma in a research note on Thursday, August 27th. Finally, Piper Sandler started coverage on Williams-Sonoma in a report on Monday, July 27th. They set an “overweight” rating and a $253.00 price target for the company. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.56.

Williams-Sonoma Trading Down 0.5%

The stock has a market cap of $28.17 billion, a P/E ratio of 24.48, a PEG ratio of 2.62 and a beta of 1.48. The firm has a 50-day simple moving average of $233.97 and a two-hundred day simple moving average of $214.08.

Williams-Sonoma (NYSE:WSM) last announced its earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 EPS 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 analysts’ expectations of $1.93 billion. Williams-Sonoma had a net margin of 14.73% and a return on equity of 53.48%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. Sell-side analysts predict that Williams-Sonoma, Inc. will post 9.51 earnings per share for the current year.

Williams-Sonoma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 16th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, October 16th. Williams-Sonoma’s dividend payout ratio (DPR) is 31.12%.

Insider Activity

In other news, CFO Jeffrey Howie sold 3,045 shares of Williams-Sonoma stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $220.61, for a total value of $671,757.45. Following the completion of the transaction, the chief financial officer directly owned 34,138 shares of the company’s stock, valued at approximately $7,531,184.18. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 522 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $246.39, for a total value of $128,615.58. Following the completion of the transaction, the executive vice president directly owned 20,195 shares in the company, valued at approximately $4,975,846.05. This trade represents a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 39,567 shares of company stock valued at $8,792,373. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Williams-Sonoma

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MidFirst Bank bought a new position in shares of Williams-Sonoma in the fourth quarter valued at approximately $30,000. Ballast Advisors LLC purchased a new position in Williams-Sonoma during the first quarter worth about $30,000. Millstone Evans Group LLC boosted its holdings in 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 during the last quarter. IMG Wealth Management Inc. bought a new stake in Williams-Sonoma in the 2nd quarter worth about $31,000. Finally, Meeder Asset Management Inc. bought a new stake in Williams-Sonoma in the 2nd quarter worth about $35,000. Institutional investors own 99.29% of the company’s stock.

About Williams-Sonoma

Williams-Sonoma, Inc is an omnichannel specialty retailer focused on home furnishings, décor, kitchenware and related lifestyle products. The company operates a portfolio of brands that includes Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Williams Sonoma Home and Mark & Graham.

Its products include cookware, cutlery, appliances, tabletop goods, furniture, bedding, bath products, lighting, rugs, textiles, decorative accessories, gifts and personalized items.