Bank of New York Mellon Corp Trims Holdings in Williams-Sonoma, Inc. $WSM

Key Points

• Bank of New York Mellon trimmed its Williams-Sonoma stake by 3.8% in the first quarter, though it still held 819,855 shares worth about $149.5 million. Institutional investors overall continue to dominate ownership, holding 99.29% of the company.
• Analyst sentiment remains mixed but constructive: Goldman Sachs upgraded the stock to buy and raised its target to $218, while the consensus rating is still Moderate Buy with an average price target of $212.65.
• Williams-Sonoma reported solid quarterly results, with EPS of $1.93 beating expectations and revenue rising 4.4% year over year to $1.81 billion. The company also announced a quarterly dividend of $0.76 per share, payable August 21.

Bank of New York Mellon Corp decreased its stake in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 3.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 819,855 shares of the specialty retailer's stock after selling 32,379 shares during the period. Bank of New York Mellon Corp owned 0.69% of Williams-Sonoma worth $149,484,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WSM. Caitong International Asset Management Co. Ltd bought a new position in Williams-Sonoma in the 4th quarter valued at $25,000. Atlantic Union Bankshares Corp increased its holdings 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 purchasing an additional 50 shares during the period. MidFirst Bank bought a new position in shares of Williams-Sonoma in the fourth quarter worth $30,000. Millstone Evans Group LLC raised its position in shares of Williams-Sonoma by 229.4% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock worth $31,000 after buying an additional 117 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in shares of Williams-Sonoma in the fourth quarter worth $31,000. Institutional investors own 99.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WSM. The Goldman Sachs Group raised Williams-Sonoma from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $185.00 to $218.00 in a report on Monday, April 13th. Weiss Ratings downgraded shares of Williams-Sonoma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 2nd. Citigroup dropped their target price on shares of Williams-Sonoma from $208.00 to $200.00 and set a "neutral" rating for the company in a research report on Tuesday, May 12th. Morgan Stanley set a $210.00 price target on shares of Williams-Sonoma and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Finally, Barclays set a $190.00 price target on shares of Williams-Sonoma and gave the stock an "equal weight" rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.65.

Insider Buying and Selling

In other news, EVP Karalyn Yearout sold 1,112 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 21,717 shares of the company's stock, 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 document filed 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 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the chief executive officer owned 923,524 shares in the company, valued at $184,704,800. This represents a 1.60% 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. In the last three months, insiders have sold 36,634 shares of company stock valued at $6,812,283. Insiders own 1.10% of the company's stock.

Williams-Sonoma Stock Up 0.0%

Williams-Sonoma stock opened at $228.50 on Monday. The company has a market capitalization of $26.90 billion, a PE ratio of 25.59, a P/E/G ratio of 2.50 and a beta of 1.49. The firm has a fifty day simple moving average of $210.86 and a two-hundred day simple moving average of $201.34. Williams-Sonoma, Inc. has a twelve month low of $165.51 and a twelve month high of $244.65.

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

Williams-Sonoma Dividend Announcement

The business 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 $0.76 dividend. The ex-dividend date is Friday, July 17th. This represents a $3.04 annualized dividend and a yield of 1.3%. Williams-Sonoma's payout ratio is presently 34.04%.

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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