11,260 Williams-Sonoma, Inc. $WSM Shares Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Williams-Sonoma position by 59.2% in the third quarter, adding 11,260 shares and bringing its holdings to 30,266 shares valued at about $6.9 million.
• Institutional ownership remains high at 99.29%, with several other funds also increasing their stakes; company insiders, meanwhile, sold nearly 39,900 shares over the past 90 days.
• Williams-Sonoma beat quarterly earnings and revenue estimates, with revenue up 6.7% year over year. Analysts’ consensus rating is “Moderate Buy,” and the company announced a quarterly dividend of $0.76 per share.

ProShare Advisors LLC raised its holdings in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 59.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,266 shares of the specialty retailer's stock after purchasing an additional 11,260 shares during the quarter. ProShare Advisors LLC's holdings in Williams-Sonoma were worth $6,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in Williams-Sonoma by 313.2% in the 2nd quarter. Wellington Management Group LLP now owns 49,821 shares of the specialty retailer's stock worth $11,613,000 after acquiring an additional 37,764 shares during the last quarter. Little House Capital LLC purchased a new stake in shares of Williams-Sonoma in the 1st quarter valued at $801,000. Raiffeisen Bank International AG grew its stake in shares of Williams-Sonoma by 319.2% during the second quarter. Raiffeisen Bank International AG now owns 6,673 shares of the specialty retailer's stock valued at $1,603,000 after buying an additional 5,081 shares during the last quarter. Hsbc Holdings PLC grew its position in Williams-Sonoma by 12.1% during the 2nd quarter. Hsbc Holdings PLC now owns 302,105 shares of the specialty retailer's stock worth $70,540,000 after acquiring an additional 32,644 shares during the last quarter. Finally, Maven Securities LTD purchased a new position in shares of Williams-Sonoma in the second quarter worth $6,003,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jeffrey Howie sold 3,045 shares of the 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 directly owned 34,138 shares in the company, valued at approximately $7,531,184.18. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 522 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $239.36, for a total value of $124,945.92. Following the completion of the sale, the executive vice president owned 19,673 shares in the company, valued at approximately $4,708,929.28. The trade was a 2.58% 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 sold 39,883 shares of company stock valued at $8,867,518 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a "buy" rating and issued a $261.00 price objective (up from $230.00) on shares of Williams-Sonoma in a report on Tuesday, August 11th. Jefferies Financial Group set a $275.00 price target on Williams-Sonoma in a research note on Wednesday, August 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $259.00 target price (down from $260.00) on shares of Williams-Sonoma in a report on Thursday, October 29th. Seaport Research Partners reaffirmed a "buy" rating on shares of Williams-Sonoma in a report on Friday, August 14th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $286.00 target price (up from $259.00) on shares of Williams-Sonoma in a research report on Tuesday, October 20th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $247.89.

Williams-Sonoma Trading Up 6.4%

Shares of WSM stock opened at $269.82 on Thursday. The stock has a market capitalization of $31.78 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. Williams-Sonoma, Inc. has a 12-month low of $165.51 and a 12-month high of $271.89. The stock's 50-day moving average price is $237.85 and its 200-day moving average price is $215.54.

Williams-Sonoma (NYSE:WSM - Get Free Report) last posted its earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 EPS for the quarter, beating 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 firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company earned $2.00 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts predict that Williams-Sonoma, Inc. will post 9.50 EPS for the current fiscal year.

Williams-Sonoma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 16th will be issued a $0.76 dividend. The ex-dividend date is Friday, October 16th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.1%. Williams-Sonoma's payout ratio is 31.12%.

Williams-Sonoma 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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