Citigroup Issues Positive Forecast for Williams-Sonoma (NYSE:WSM) Stock Price

Key Points

• Citigroup raised its Williams-Sonoma price target to $275 from $252 but kept a neutral rating; the new target implies 8.31% upside from the prior close.
• Analyst sentiment overall is more positive: the stock has a “Moderate Buy” consensus rating and an average price target of $249.17, based on 10 Buy and 8 Hold ratings.
• In its latest reported quarter, Williams-Sonoma beat earnings and revenue estimates, with EPS of $2.10 versus $2.08 expected and revenue up 6.7% year over year to $1.96 billion.

Williams-Sonoma (NYSE:WSM - Get Free Report) had its price objective raised by stock analysts at Citigroup from $252.00 to $275.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "neutral" rating on the specialty retailer's stock. Citigroup's target price would indicate a potential upside of 8.31% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group set a $275.00 target price on Williams-Sonoma in a report on Wednesday, August 26th. Morgan Stanley boosted their price target on shares of Williams-Sonoma from $210.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price objective (down from $260.00) on shares of Williams-Sonoma in a report on Thursday, October 29th. KeyCorp restated an "overweight" rating and set a $270.00 price objective (up from $250.00) on shares of Williams-Sonoma in a report on Thursday, August 27th. Finally, Wells Fargo & Company raised their price objective on shares of Williams-Sonoma from $190.00 to $240.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Williams-Sonoma currently has a consensus rating of "Moderate Buy" and an average price target of $249.17.

Williams-Sonoma Stock Performance

Shares of NYSE WSM traded down $4.71 during trading on Friday, hitting $253.90. 426,528 shares of the company traded hands, compared to its average volume of 1,139,719. The business's fifty day moving average is $238.26 and its 200 day moving average is $215.78. Williams-Sonoma has a fifty-two week low of $165.51 and a fifty-two week high of $274.45. The firm has a market capitalization of $29.90 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 2.93 and a beta of 1.49.

Williams-Sonoma (NYSE:WSM - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.93 billion. Williams-Sonoma had a net margin of 14.73% and a return on equity of 53.48%. The business's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 EPS. On average, analysts predict that Williams-Sonoma will post 9.50 EPS for the current year.

Insider Buying and Selling

In related news, CEO Laura Alber sold 35,000 shares of Williams-Sonoma stock in a transaction that occurred 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 transaction, the chief executive officer owned 853,524 shares of the company's stock, valued at $188,799,508.80. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 3,045 shares of Williams-Sonoma stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 34,138 shares in the company, valued at approximately $7,531,184.18. The trade was a 8.19% 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 39,361 shares of company stock worth $8,738,903 over the last three months. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Williams-Sonoma

A number of hedge funds have recently bought and sold shares of WSM. Allworth Financial LP grew its holdings in shares of Williams-Sonoma by 7.0% during the third quarter. Allworth Financial LP now owns 1,135 shares of the specialty retailer's stock worth $265,000 after purchasing an additional 74 shares in the last quarter. Eurizon Capital SGR S.p.A. increased its position in shares of Williams-Sonoma by 9.0% in the third quarter. Eurizon Capital SGR S.p.A. now owns 84,884 shares of the specialty retailer's stock worth $19,352,000 after purchasing an additional 7,001 shares during the last quarter. Werba Rubin Papier Wealth Management increased its position in shares of Williams-Sonoma by 6.6% in the third quarter. Werba Rubin Papier Wealth Management now owns 934 shares of the specialty retailer's stock worth $213,000 after purchasing an additional 58 shares during the last quarter. King Luther Capital Management Corp raised its stake in Williams-Sonoma by 12.8% in the third quarter. King Luther Capital Management Corp now owns 3,456 shares of the specialty retailer's stock valued at $788,000 after purchasing an additional 392 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in Williams-Sonoma by 14.5% in the third quarter. Maryland State Retirement & Pension System now owns 7,010 shares of the specialty retailer's stock valued at $1,598,000 after purchasing an additional 886 shares in the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

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.

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