Evercore ISI Cuts Williams-Sonoma (NYSE:WSM) Price Target to $170.00

Williams-Sonoma (NYSE:WSM) had its target price lowered by Evercore ISI from $175.00 to $170.00 in a report released on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

WSM has been the topic of a number of other reports. Robert W. Baird upgraded shares of Williams-Sonoma from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Monday, April 7th. Wells Fargo & Company reduced their target price on shares of Williams-Sonoma from $195.00 to $170.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Zelman & Associates began coverage on shares of Williams-Sonoma in a report on Thursday, May 15th. They set an “underperform” rating on the stock. Royal Bank Of Canada set a $182.00 price objective on shares of Williams-Sonoma and gave the company an “outperform” rating in a report on Friday, May 23rd. Finally, Wedbush reduced their price objective on shares of Williams-Sonoma from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $176.75.

Williams-Sonoma Stock Up 2.1%

Williams-Sonoma stock opened at $160.30 on Tuesday. The firm has a market cap of $19.72 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.47. Williams-Sonoma has a 52-week low of $125.33 and a 52-week high of $219.98. The company’s 50 day moving average is $157.46 and its two-hundred day moving average is $177.24.

Williams-Sonoma (NYSE:WSM) last released its earnings results on Thursday, May 22nd. The specialty retailer reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. Williams-Sonoma had a net margin of 14.35% and a return on equity of 52.79%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.48 EPS. On average, equities research analysts anticipate that Williams-Sonoma will post 8.36 earnings per share for the current fiscal year.

Williams-Sonoma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 18th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, July 18th. Williams-Sonoma’s dividend payout ratio (DPR) is 29.90%.

Insider Activity at Williams-Sonoma

In related news, CFO Jeffrey Howie sold 36,312 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $165.79, for a total value of $6,020,166.48. Following the transaction, the chief financial officer now directly owns 46,388 shares of the company’s stock, valued at $7,690,666.52. This trade represents a 43.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laura Alber sold 30,000 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $164.33, for a total transaction of $4,929,900.00. Following the completion of the transaction, the chief executive officer now directly owns 996,927 shares in the company, valued at $163,825,013.91. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,227 shares of company stock valued at $18,520,913 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its position in Williams-Sonoma by 11.4% during the 1st quarter. Voya Investment Management LLC now owns 282,788 shares of the specialty retailer’s stock worth $44,709,000 after purchasing an additional 28,964 shares during the last quarter. Modern Wealth Management LLC grew its position in Williams-Sonoma by 63.1% during the 1st quarter. Modern Wealth Management LLC now owns 8,283 shares of the specialty retailer’s stock worth $1,310,000 after purchasing an additional 3,206 shares during the last quarter. Strs Ohio purchased a new position in Williams-Sonoma during the 1st quarter worth $903,000. Acadian Asset Management LLC grew its position in Williams-Sonoma by 105.9% during the 1st quarter. Acadian Asset Management LLC now owns 15,366 shares of the specialty retailer’s stock worth $2,425,000 after purchasing an additional 7,904 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co purchased a new position in Williams-Sonoma during the 1st quarter worth $3,162,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

About Williams-Sonoma

Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.