Assetmark Inc. Increases Stake in Williams-Sonoma, Inc. $WSM

Key Points

• Assetmark Inc. boosted its Williams-Sonoma stake by 4.6% in Q1, adding 20,899 shares and bringing its total holding to 477,064 shares worth about $86.98 million.
• Williams-Sonoma reported strong quarterly results, with EPS of $1.93 beating estimates and revenue of $1.81 billion slightly topping expectations; revenue also rose 4.4% year over year.
• The company announced a quarterly dividend of $0.76 per share, while analysts currently rate the stock Moderate Buy with a consensus price target of $212.65.

Assetmark Inc. increased its stake in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,064 shares of the specialty retailer's stock after acquiring an additional 20,899 shares during the period. Assetmark Inc. owned about 0.40% of Williams-Sonoma worth $86,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Williams-Sonoma in the 4th quarter worth about $25,000. Atlantic Union Bankshares Corp grew its stake in shares of Williams-Sonoma by 51.5% in the fourth quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. MidFirst Bank bought a new position in Williams-Sonoma in the 4th quarter valued at approximately $30,000. Millstone Evans Group LLC increased its holdings in shares of Williams-Sonoma by 229.4% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Finally, DV Equities LLC purchased a new position in shares of Williams-Sonoma in the fourth quarter worth $31,000. Institutional investors own 99.29% of the company's stock.

Williams-Sonoma Stock Up 2.6%

Shares of NYSE:WSM opened at $228.61 on Friday. Williams-Sonoma, Inc. has a 52-week low of $165.51 and a 52-week high of $244.65. The stock has a market cap of $26.92 billion, a P/E ratio of 25.60, a PEG ratio of 2.44 and a beta of 1.49. The business has a fifty day moving average of $209.92 and a two-hundred day moving average of $201.05.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its earnings results on Thursday, May 21st. The specialty retailer reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.13. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.Williams-Sonoma's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. On average, equities analysts anticipate that Williams-Sonoma, Inc. will post 9.39 earnings per share for the current year.

Williams-Sonoma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 17th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $3.04 dividend on an annualized basis and a yield of 1.3%. Williams-Sonoma's dividend payout ratio is presently 34.04%.

Insider Buying and Selling

In related news, EVP Karalyn Yearout sold 1,112 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $228.49, for a total transaction of $254,080.88. Following the transaction, the executive vice president directly owned 21,717 shares in the company, valued at approximately $4,962,117.33. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 20,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $172.61, for a total value of $3,452,200.00. Following the completion of the transaction, the chief executive officer directly owned 938,524 shares in the company, valued at $161,998,627.64. This trade represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 36,634 shares of company stock valued at $6,812,283. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

WSM has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Williams-Sonoma from a "neutral" rating to a "buy" rating and raised their price target for the company from $185.00 to $218.00 in a report on Monday, April 13th. Bank of America began coverage on shares of Williams-Sonoma in a research report on Friday, June 12th. They set a "buy" rating and a $250.00 price objective on the stock. Robert W. Baird dropped their target price on shares of Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, March 19th. Evercore set a $200.00 target price on shares of Williams-Sonoma in a research note on Tuesday, April 14th. Finally, Weiss Ratings downgraded Williams-Sonoma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, Williams-Sonoma currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.65.

Williams-Sonoma Company Profile

Williams‑Sonoma, Inc is a specialty retailer focused on the home and culinary markets, best known for premium cookware, kitchen tools and home furnishings. The company traces its roots to a single cookware store founded by Chuck Williams in 1956 in Sonoma, California, and has evolved into a multi‑brand home furnishings and housewares business. Its merchandise mix spans cookware and kitchen electrics, tabletop and food prep items, furniture, bedding, lighting and decorative accessories designed for both everyday use and higher‑end interiors.

The company operates a portfolio of consumer brands that target distinct segments of the home market.

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