Williams-Sonoma (NYSE:WSM) Price Target Raised to $240.00

Williams-Sonoma (NYSE:WSM) had its price target raised by research analysts at Wells Fargo & Company from $190.00 to $240.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 4.40% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Bank of America started coverage on shares of Williams-Sonoma in a research note on Friday, June 12th. They issued a “buy” rating and a $250.00 target price for the company. Weiss Ratings raised shares of Williams-Sonoma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Argus set a $230.00 target price on Williams-Sonoma in a research report on Friday, May 29th. Morgan Stanley set a $210.00 price target on Williams-Sonoma and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Finally, Citigroup cut their target price on shares of Williams-Sonoma from $208.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.76.

Williams-Sonoma Stock Down 0.3%

Williams-Sonoma stock opened at $251.05 on Tuesday. The company’s 50-day moving average price is $226.60 and its 200-day moving average price is $205.57. Williams-Sonoma has a twelve month low of $165.51 and a twelve month high of $252.99. The company has a market cap of $29.56 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.76 and a beta of 1.50.

Williams-Sonoma (NYSE:WSM) last issued its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.Williams-Sonoma’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. As a group, sell-side analysts expect that Williams-Sonoma will post 9.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Karalyn Yearout sold 522 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $246.39, for a total transaction of $128,615.58. Following the completion of the sale, the executive vice president directly owned 20,195 shares of the company’s stock, valued at approximately $4,975,846.05. This trade represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the chief executive officer owned 923,524 shares in the company, valued at approximately $184,704,800. This trade represents a 1.60% 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. Insiders have sold a total of 38,156 shares of company stock valued at $7,190,899 in the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Williams-Sonoma

Several large investors have recently made changes to their positions in WSM. Caitong International Asset Management Co. Ltd purchased a new position in Williams-Sonoma during the 4th quarter valued at about $25,000. Atlantic Union Bankshares Corp lifted its holdings in Williams-Sonoma by 51.5% during the 4th quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer’s stock worth $26,000 after buying an additional 50 shares in the last quarter. MidFirst Bank acquired a new stake in Williams-Sonoma during the 4th quarter worth approximately $30,000. Ballast Advisors LLC purchased a new position in Williams-Sonoma in the 1st quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC boosted its position in Williams-Sonoma by 229.4% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 117 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

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.