Williams-Sonoma (NYSE:WSM) Price Target Raised to $265.00

Williams-Sonoma (NYSE:WSM) had its price objective hoisted by UBS Group from $247.00 to $265.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the specialty retailer’s stock.

WSM has been the subject of a number of other reports. Bank of America reissued a “buy” rating and issued a $261.00 price objective (up from $250.00) on shares of Williams-Sonoma in a research note on Monday, August 24th. Piper Sandler restated an “overweight” rating and set a $286.00 target price (up from $259.00) on shares of Williams-Sonoma in a research report on Tuesday, October 20th. Evercore set a $255.00 price objective on Williams-Sonoma in a research note on Tuesday, October 20th. Citigroup boosted their price objective on Williams-Sonoma from $252.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Finally, Jefferies Financial Group set a $275.00 price objective on Williams-Sonoma in a research report on Wednesday, August 26th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.17.

Williams-Sonoma Stock Performance

Shares of WSM traded up $3.68 during mid-day trading on Thursday, hitting $254.06. 1,199,729 shares of the stock were exchanged, compared to its average volume of 954,440. The company has a market cap of $29.92 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.71 and a beta of 1.49. Williams-Sonoma has a 52-week low of $165.51 and a 52-week high of $274.45. The firm has a 50-day moving average of $241.80 and a two-hundred day moving average of $217.25.

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

Williams-Sonoma Announces Dividend

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

Insider Buying and Selling at Williams-Sonoma

In related news, Director Anne A. Finucane sold 794 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $252.14, for a total transaction of $200,199.16. Following the transaction, the director directly owned 9,404 shares in the company, valued at $2,371,124.56. The trade was a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 3,045 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $220.61, for a total value of $671,757.45. Following the transaction, the chief financial officer directly owned 34,138 shares in the company, valued at $7,531,184.18. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 39,361 shares of company stock worth $8,738,903. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Williams-Sonoma

Hedge funds have recently bought and sold shares of the business. Latitude Advisors LLC purchased a new position in Williams-Sonoma during the third quarter valued at $25,000. Provenance Wealth Advisors LLC purchased a new position in Williams-Sonoma in the 3rd quarter valued at about $28,000. IMG Wealth Management Inc. acquired a new stake in Williams-Sonoma in the 2nd quarter worth about $31,000. Meeder Asset Management Inc. acquired a new stake in Williams-Sonoma in the 2nd quarter worth about $35,000. Finally, Ballast Advisors LLC acquired a new stake in Williams-Sonoma in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Williams-Sonoma Company Profile

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.