Bank of America Corp DE Buys Shares of 1,134,453 Williams-Sonoma, Inc. $WSM

Key Points

• Bank of America purchased 1,134,453 Williams-Sonoma shares in the second quarter, worth approximately $264.4 million and representing about 0.96% of the company.
• Institutional ownership remains substantial at 99.29%, with BlackRock, Aristotle Capital Management and Norges Bank among other major investors adding or holding significant positions.
• Analysts maintain a Moderate Buy consensus with an average price target of $245.56; Williams-Sonoma recently exceeded quarterly earnings and revenue expectations, though its shares opened down 1.6% at $217.89.

Bank of America Corp DE purchased a new position in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,134,453 shares of the specialty retailer's stock, valued at approximately $264,441,000. Bank of America Corp DE owned approximately 0.96% of Williams-Sonoma as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WSM. BlackRock Inc. acquired a new stake in Williams-Sonoma in the 2nd quarter valued at about $2,656,062,000. Aristotle Capital Management LLC grew its position in shares of Williams-Sonoma by 22.0% in the first quarter. Aristotle Capital Management LLC now owns 11,140,471 shares of the specialty retailer's stock valued at $2,031,242,000 after purchasing an additional 2,009,032 shares in the last quarter. Norges Bank purchased a new stake in shares of Williams-Sonoma in the fourth quarter valued at approximately $316,920,000. Bank of New York Mellon Corp purchased a new stake in shares of Williams-Sonoma in the second quarter valued at approximately $188,603,000. Finally, Deutsche Bank AG acquired a new stake in shares of Williams-Sonoma in the second quarter valued at approximately $166,622,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Williams-Sonoma

In other Williams-Sonoma news, EVP Karalyn Yearout sold 1,000 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president owned 20,717 shares in the company, valued at $5,179,250. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen reissued a "buy" rating on shares of Williams-Sonoma in a research note on Monday, August 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $261.00 target price (up from $230.00) on shares of Williams-Sonoma in a research note on Tuesday, August 11th. Morgan Stanley lifted their price target on Williams-Sonoma from $210.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, August 27th. Bank of America reissued a "buy" rating and set a $261.00 price target (up from $250.00) on shares of Williams-Sonoma in a research report on Monday, August 24th. Finally, Wells Fargo & Company upped their price objective on shares of Williams-Sonoma from $190.00 to $240.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $245.56.

Williams-Sonoma Trading Down 1.6%

Shares of NYSE WSM opened at $217.89 on Thursday. The stock has a market capitalization of $25.66 billion, a PE ratio of 22.30, a PEG ratio of 2.38 and a beta of 1.47. The stock has a fifty day simple moving average of $232.16 and a 200-day simple moving average of $209.64. Williams-Sonoma, Inc. has a twelve month low of $165.51 and a twelve month high of $254.89.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $1.96 billion during 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 earnings per share. On average, equities analysts predict that Williams-Sonoma, Inc. will post 9.51 earnings per share for the current year.

Williams-Sonoma Company Profile

Williams-Sonoma, Inc is a specialty retailer focused on high-quality home furnishings, housewares and lifestyle products. The company sells furniture, bedding, bath goods, lighting, rugs, window treatments, home décor, kitchen equipment, cookware, tabletop products, outdoor furnishings and related accessories through e-commerce platforms, catalogs and retail stores.

The company operates a portfolio of brands that includes Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Mark & Graham and Rejuvenation.

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