Spinnaker Trust Invests $285,000 in Williams-Sonoma, Inc. (NYSE:WSM)

Spinnaker Trust acquired a new position in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,800 shares of the specialty retailer's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Williams-Sonoma in the fourth quarter worth $290,121,000. Marshall Wace LLP bought a new stake in shares of Williams-Sonoma during the 4th quarter valued at $87,148,000. Renaissance Technologies LLC boosted its holdings in shares of Williams-Sonoma by 64.1% during the 4th quarter. Renaissance Technologies LLC now owns 989,700 shares of the specialty retailer's stock valued at $183,273,000 after buying an additional 386,500 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Williams-Sonoma by 16,087.6% in the 1st quarter. GAMMA Investing LLC now owns 264,343 shares of the specialty retailer's stock worth $41,793,000 after buying an additional 262,710 shares during the period. Finally, Northern Trust Corp grew its position in shares of Williams-Sonoma by 15.1% in the 4th quarter. Northern Trust Corp now owns 1,902,382 shares of the specialty retailer's stock worth $352,283,000 after buying an additional 249,389 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Trading Up 3.6%

NYSE:WSM traded up $5.83 during mid-day trading on Tuesday, reaching $169.20. The company's stock had a trading volume of 1,425,855 shares, compared to its average volume of 1,979,319. The stock has a market cap of $20.81 billion, a P/E ratio of 19.16, a PEG ratio of 2.65 and a beta of 1.48. The firm's fifty day moving average price is $160.13 and its two-hundred day moving average price is $175.72. Williams-Sonoma, Inc. has a 12-month low of $125.33 and a 12-month high of $219.98.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The specialty retailer reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.09. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.67 billion. Williams-Sonoma had a net margin of 14.35% and a return on equity of 52.79%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.48 earnings per share. Analysts predict that Williams-Sonoma, Inc. will post 8.36 earnings per share for the current fiscal year.

Williams-Sonoma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 18th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, July 18th. Williams-Sonoma's dividend payout ratio is 29.90%.

Insiders Place Their Bets

In other Williams-Sonoma news, EVP Karalyn Yearout sold 8,000 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $151.53, for a total transaction of $1,212,240.00. Following the completion of the sale, the executive vice president directly owned 16,505 shares in the company, valued at $2,501,002.65. The trade was a 32.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Howie sold 4,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $157.11, for a total transaction of $628,440.00. Following the sale, the chief financial officer directly owned 38,388 shares of the company's stock, valued at $6,031,138.68. The trade was a 9.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,915 shares of company stock valued at $7,527,346. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

WSM has been the subject of a number of recent research reports. Zelman & Associates assumed coverage on shares of Williams-Sonoma in a research report on Thursday, May 15th. They set an "underperform" rating for the company. Wedbush lowered their target price on shares of Williams-Sonoma from $190.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Morgan Stanley dropped their price target on Williams-Sonoma from $195.00 to $185.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. upped their price target on Williams-Sonoma from $153.00 to $168.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price objective on Williams-Sonoma from $195.00 to $170.00 and set an "equal weight" rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Williams-Sonoma has a consensus rating of "Hold" and a consensus price target of $176.75.

Williams-Sonoma 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.