Williams-Sonoma (NYSE:WSM) Reaches New 52-Week High – Here’s Why

Williams-Sonoma, Inc. (NYSE:WSM)’s share price hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $255.33 and last traded at $253.2960, with a volume of 117,113 shares. The stock had previously closed at $252.03.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised Williams-Sonoma from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, August 31st. UBS Group reaffirmed a “neutral” rating on shares of Williams-Sonoma in a report on Monday. Citigroup lifted their price target on shares of Williams-Sonoma from $248.00 to $252.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. KeyCorp restated an “overweight” rating and set a $270.00 price objective (up from $250.00) on shares of Williams-Sonoma in a research report on Thursday, August 27th. Finally, Seaport Research Partners reaffirmed a “buy” rating on shares of Williams-Sonoma in a research report on Friday, August 14th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.56.

Williams-Sonoma Price Performance

The firm has a market capitalization of $29.59 billion, a PE ratio of 25.80, a P/E/G ratio of 2.63 and a beta of 1.48. The company has a 50-day moving average price of $234.11 and a 200 day moving average price of $216.71.

Williams-Sonoma (NYSE:WSM) last posted its quarterly earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 EPS for the quarter, topping 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 company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the firm earned $2.00 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Williams-Sonoma, Inc. will post 9.51 earnings per share for the current year.

Williams-Sonoma Dividend Announcement

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

Insider Buying and Selling

In other Williams-Sonoma news, CFO Jeffrey Howie sold 3,045 shares of the firm’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 completion of the sale, the chief financial officer owned 34,138 shares of the company’s stock, valued at $7,531,184.18. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 522 shares of the business’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $239.36, for a total value of $124,945.92. Following the transaction, the executive vice president owned 19,673 shares of the company’s stock, valued at approximately $4,708,929.28. The trade was a 2.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,089 shares of company stock worth $8,917,319 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC boosted its holdings in shares of Williams-Sonoma by 5.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,372 shares of the specialty retailer’s stock valued at $997,000 after buying an additional 213 shares in the last quarter. Wealth Enhancement Trust Services Inc. raised its holdings in shares of Williams-Sonoma by 72.1% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 451 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 189 shares during the last quarter. Eastern Bank lifted its position in Williams-Sonoma by 10.6% during the third quarter. Eastern Bank now owns 752 shares of the specialty retailer’s stock valued at $171,000 after purchasing an additional 72 shares during the period. QRG Capital Management Inc. lifted its position in Williams-Sonoma by 3.4% during the second quarter. QRG Capital Management Inc. now owns 12,904 shares of the specialty retailer’s stock valued at $3,008,000 after purchasing an additional 419 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Williams-Sonoma by 5.2% during the second quarter. Envestnet Asset Management Inc. now owns 461,832 shares of the specialty retailer’s stock valued at $107,652,000 after purchasing an additional 22,833 shares during the period. 99.29% of the stock is currently owned by institutional investors.

About Williams-Sonoma

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

Its products include cookware, cutlery, appliances, tabletop goods, furniture, bedding, bath products, lighting, rugs, textiles, decorative accessories, gifts and personalized items.