Bank of America Corp DE Purchases 561,977 Shares of Williams-Sonoma, Inc. $WSM

Key Points

• Bank of America more than doubled its Williams-Sonoma position in the first quarter, purchasing 561,977 additional shares to hold 1.11 million shares worth approximately $202.1 million, or 0.94% of the company.
• Williams-Sonoma reported quarterly EPS of $1.93, beating estimates of $1.80, while revenue rose 4.4% year over year to $1.81 billion. The company also declared a quarterly dividend of $0.76 per share, representing a 1.2% yield.
• WSM shares opened at $248.94, near their 52-week high, despite recent insider selling totaling $6.8 million. Analysts maintain a “Moderate Buy” consensus, with an average price target of $217.82.

Bank of America Corp DE lifted its position in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 102.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,108,589 shares of the specialty retailer's stock after purchasing an additional 561,977 shares during the period. Bank of America Corp DE owned 0.94% of Williams-Sonoma worth $202,129,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WSM. Brighton Jones LLC boosted its position in Williams-Sonoma by 22.4% during the fourth quarter. Brighton Jones LLC now owns 6,742 shares of the specialty retailer's stock worth $1,248,000 after purchasing an additional 1,236 shares during the period. Bison Wealth LLC acquired a new position in Williams-Sonoma in the 4th quarter valued at about $227,000. Woodline Partners LP bought a new position in Williams-Sonoma in the 1st quarter valued at about $1,644,000. Guggenheim Capital LLC raised its holdings in Williams-Sonoma by 9.0% in the 2nd quarter. Guggenheim Capital LLC now owns 4,153 shares of the specialty retailer's stock valued at $678,000 after acquiring an additional 342 shares during the period. Finally, Brown Advisory Inc. raised its holdings in Williams-Sonoma by 5.9% in the 2nd quarter. Brown Advisory Inc. now owns 4,631 shares of the specialty retailer's stock valued at $757,000 after acquiring an additional 260 shares during the period. 99.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Williams-Sonoma

In other news, EVP Karalyn Yearout sold 1,112 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $228.49, for a total transaction of $254,080.88. Following the completion of the transaction, the executive vice president owned 21,717 shares of the company's stock, valued at approximately $4,962,117.33. The trade was a 4.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 15,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $200.00, for a total value of $3,000,000.00. Following the sale, the chief executive officer owned 923,524 shares of the company's stock, valued at approximately $184,704,800. This represents a 1.60% 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. Insiders have sold 36,634 shares of company stock valued at $6,812,283 over the last 90 days. Corporate insiders own 1.10% of the company's stock.

Williams-Sonoma Stock Up 3.8%

WSM stock opened at $248.94 on Wednesday. Williams-Sonoma, Inc. has a 52 week low of $165.51 and a 52 week high of $250.83. The business has a 50-day simple moving average of $222.97 and a 200 day simple moving average of $204.46. The company has a market cap of $29.31 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.63 and a beta of 1.50.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.13. Williams-Sonoma had a net margin of 13.81% and a return on equity of 53.29%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that Williams-Sonoma, Inc. will post 9.38 EPS for the current fiscal year.

Williams-Sonoma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 17th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 17th. Williams-Sonoma's payout ratio is currently 34.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company set a $190.00 target price on Williams-Sonoma and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Citigroup reduced their price target on Williams-Sonoma from $208.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. The Goldman Sachs Group upgraded Williams-Sonoma from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $185.00 to $218.00 in a research report on Monday, April 13th. Barclays set a $190.00 target price on shares of Williams-Sonoma and gave the company an "equal weight" rating in a research report on Friday, May 22nd. Finally, Weiss Ratings raised shares of Williams-Sonoma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.82.

About Williams-Sonoma

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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