Williams-Sonoma, Inc. $WSM Stake Lessened by Investment House LLC

Investment House LLC decreased its stake in Williams-Sonoma, Inc. (NYSE:WSM) by 17.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 108,633 shares of the specialty retailer’s stock after selling 23,413 shares during the period. Williams-Sonoma accounts for 1.1% of Investment House LLC’s portfolio, making the stock its 17th biggest position. Investment House LLC’s holdings in Williams-Sonoma were worth $24,762,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd increased its position in shares of Williams-Sonoma by 1,844.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 47,733 shares of the specialty retailer’s stock worth $8,703,000 after purchasing an additional 45,278 shares in the last quarter. Little House Capital LLC purchased a new stake in shares of Williams-Sonoma in the 1st quarter valued at about $801,000. Wellington Management Group LLP boosted its position in shares of Williams-Sonoma by 313.2% in the 2nd quarter. Wellington Management Group LLP now owns 49,821 shares of the specialty retailer’s stock valued at $11,613,000 after purchasing an additional 37,764 shares during the period. Hsbc Holdings PLC boosted its position in shares of Williams-Sonoma by 12.1% in the 2nd quarter. Hsbc Holdings PLC now owns 302,105 shares of the specialty retailer’s stock valued at $70,540,000 after purchasing an additional 32,644 shares during the period. Finally, Raiffeisen Bank International AG grew its stake in Williams-Sonoma by 319.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 6,673 shares of the specialty retailer’s stock worth $1,603,000 after buying an additional 5,081 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Trading Up 3.0%

NYSE:WSM opened at $260.97 on Friday. Williams-Sonoma, Inc. has a 12-month low of $165.51 and a 12-month high of $261.11. The stock’s 50 day simple moving average is $234.65 and its 200-day simple moving average is $219.29. The firm has a market cap of $30.74 billion, a P/E ratio of 28.05, a PEG ratio of 2.74 and a beta of 1.48.

Williams-Sonoma (NYSE:WSM) last issued its quarterly 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. 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 last year, the company earned $2.00 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts forecast that Williams-Sonoma, Inc. will post 9.51 EPS for the current fiscal year.

Williams-Sonoma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 16th will be given a dividend of $0.76 per share. The ex-dividend date is Friday, October 16th. This represents a $3.04 dividend on an annualized basis and a yield of 1.2%. Williams-Sonoma’s dividend payout ratio is presently 31.12%.

Insider Activity

In other news, CFO Jeffrey Howie sold 3,045 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $220.61, for a total value of $671,757.45. Following the completion of the sale, the chief financial officer owned 34,138 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $221.20, for a total transaction of $7,742,000.00. Following the completion of the sale, the chief executive officer owned 853,524 shares of the company’s stock, valued at $188,799,508.80. This trade represents a 3.94% 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 have sold a total of 40,883 shares of company stock worth $9,117,518 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on WSM shares. Evercore set a $255.00 price target on Williams-Sonoma in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $286.00 price objective (up from $259.00) on shares of Williams-Sonoma in a research note on Tuesday. 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 report on Monday, August 24th. Credit Suisse Group set a $261.00 target price on shares of Williams-Sonoma in a research report on Monday, August 24th. Finally, Telsey Advisory Group set a $260.00 target price on shares of Williams-Sonoma and gave the company an “outperform” rating in a report on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Williams-Sonoma currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.94.

Williams-Sonoma Company Profile

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

Its products include cookware, tableware, appliances, furniture, bedding, lighting, rugs, home accessories, gifts and personalized merchandise. Williams-Sonoma reaches customers through e-commerce websites, retail stores, catalogs and trade and contract sales, serving both individual consumers and professional customers such as interior designers and hospitality businesses.

Founded in 1956 by Chuck Williams, the company began as a retailer specializing in high-quality French cookware before expanding into a broader home-focused portfolio.