Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Williams-Sonoma, Inc. (NYSE:WSM – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 32,337 shares of the specialty retailer’s stock, valued at approximately $7,371,000.
A number of other hedge funds have also modified their holdings of WSM. Latitude Advisors LLC purchased a new position in Williams-Sonoma in the 3rd quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Williams-Sonoma during the 2nd quarter worth about $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Williams-Sonoma during the second quarter valued at about $35,000. Ballast Advisors LLC purchased a new stake in Williams-Sonoma in the first quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC raised its holdings in shares of 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.
Williams-Sonoma Stock Up 6.4%
NYSE:WSM opened at $269.82 on Thursday. The firm’s fifty day simple moving average is $237.85 and its 200-day simple moving average is $215.54. Williams-Sonoma, Inc. has a fifty-two week low of $165.51 and a fifty-two week high of $271.89. The stock has a market cap of $31.78 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49.
Williams-Sonoma (NYSE:WSM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. Williams-Sonoma had a net margin of 14.73% and a return on equity of 53.48%. The company 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 firm earned $2.00 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts anticipate that Williams-Sonoma, Inc. will post 9.50 earnings per share for the current year.
Williams-Sonoma Announces Dividend
The firm also recently announced 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 1.1%. Williams-Sonoma’s payout ratio is presently 31.12%.
Insider Buying and Selling
In related news, CFO Jeffrey Howie sold 3,045 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $220.61, for a total value of $671,757.45. Following the sale, the chief financial officer owned 34,138 shares of the company’s stock, valued at approximately $7,531,184.18. This represents a 8.19% decrease in their position. The transaction was disclosed in a filing 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 35,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $221.20, for a total value of $7,742,000.00. Following the completion of the sale, the chief executive officer owned 853,524 shares in the company, valued at $188,799,508.80. This represents a 3.94% 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 90 days, insiders have sold 39,883 shares of company stock valued at $8,867,518. 1.10% of the stock is currently owned by company insiders.
Analyst Ratings Changes
WSM has been the topic of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Williams-Sonoma in a research note on Monday, August 10th. Wells Fargo & Company boosted their target price on Williams-Sonoma from $190.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Credit Suisse Group set a $261.00 price target on shares of Williams-Sonoma in a research report on Monday, August 24th. Weiss Ratings raised Williams-Sonoma from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Jefferies Financial Group set a $275.00 target price on shares of Williams-Sonoma in a research note on Wednesday, August 26th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $247.89.
Check Out Our Latest Report on WSM
About Williams-Sonoma
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.
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