Williams-Sonoma (NYSE:WSM) Given New $170.00 Price Target at Wedbush

Williams-Sonoma (NYSE:WSM) had its price target lowered by Wedbush from $190.00 to $170.00 in a report issued on Thursday morning, Marketbeat reports. The firm currently has a neutral rating on the specialty retailer’s stock.

WSM has been the subject of a number of other reports. Morgan Stanley decreased their price objective on Williams-Sonoma from $195.00 to $185.00 and set an “equal weight” rating for the company in a report on Thursday. Telsey Advisory Group reiterated an “outperform” rating and set a $230.00 price objective on shares of Williams-Sonoma in a report on Monday. The Goldman Sachs Group increased their price objective on Williams-Sonoma from $170.00 to $224.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Evercore ISI increased their price objective on Williams-Sonoma from $140.00 to $180.00 and gave the stock an “in-line” rating in a report on Thursday, November 21st. Finally, Gordon Haskett upgraded Williams-Sonoma to a “hold” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $176.13.

Williams-Sonoma Price Performance

Shares of Williams-Sonoma stock opened at $165.29 on Thursday. Williams-Sonoma has a 1 year low of $125.33 and a 1 year high of $219.98. The business has a 50-day moving average of $197.81 and a two-hundred day moving average of $171.83. The company has a market capitalization of $20.35 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.89 and a beta of 1.82.

Williams-Sonoma (NYSE:WSM) last announced its quarterly earnings results on Wednesday, March 19th. The specialty retailer reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.40. Williams-Sonoma had a return on equity of 51.56% and a net margin of 14.54%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the company earned $5.44 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Williams-Sonoma will post 8.36 EPS for the current fiscal year.

Williams-Sonoma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, May 24th. Stockholders of record on Thursday, April 17th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Williams-Sonoma’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, April 17th. Williams-Sonoma’s dividend payout ratio (DPR) is presently 26.98%.

Insider Activity

In related news, CEO Laura Alber sold 45,000 shares of Williams-Sonoma stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $207.76, for a total transaction of $9,349,200.00. Following the completion of the sale, the chief executive officer now directly owns 944,666 shares of the company’s stock, valued at approximately $196,263,808.16. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Howie sold 1,408 shares of Williams-Sonoma stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $194.32, for a total value of $273,602.56. Following the sale, the chief financial officer now directly owns 46,388 shares of the company’s stock, valued at approximately $9,014,116.16. The trade was a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Trading of Williams-Sonoma

Hedge funds have recently added to or reduced their stakes in the company. Smithfield Trust Co lifted its holdings in Williams-Sonoma by 100.0% during the 3rd quarter. Smithfield Trust Co now owns 160 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Williams-Sonoma during the 3rd quarter worth approximately $28,000. Heck Capital Advisors LLC bought a new position in Williams-Sonoma during the 4th quarter worth $37,000. Kozak & Associates Inc. bought a new position in Williams-Sonoma during the 4th quarter worth $39,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Williams-Sonoma during the 4th quarter worth $38,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Williams-Sonoma Company Profile

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.