Bank of Nova Scotia Raises Stock Position in Williams-Sonoma, Inc. $WSM

Key Points

• Bank of Nova Scotia increased its Williams-Sonoma position by 45% in the first quarter, owning 45,863 shares valued at approximately $8.36 million. Institutional investors collectively hold 99.29% of the company’s stock.
• 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. Analysts have a consensus “Moderate Buy” rating and an average price target of $213.12.
• The company declared a quarterly dividend of $0.76 per share, equivalent to $3.04 annually and a 1.3% yield. Meanwhile, insiders sold 36,634 shares worth $6.81 million during the latest quarter under pre-arranged trading plans.

Bank of Nova Scotia increased its holdings in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 45.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,863 shares of the specialty retailer's stock after buying an additional 14,235 shares during the period. Bank of Nova Scotia's holdings in Williams-Sonoma were worth $8,362,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Williams-Sonoma during the fourth quarter worth about $25,000. Atlantic Union Bankshares Corp boosted its stake in shares of Williams-Sonoma by 51.5% in the 4th quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. MidFirst Bank purchased a new stake in shares of Williams-Sonoma in the 4th quarter valued at $30,000. Millstone Evans Group LLC grew its holdings in shares of Williams-Sonoma by 229.4% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of Williams-Sonoma during the 4th quarter valued at $31,000. Institutional investors own 99.29% of the company's stock.

Insider Activity

In other news, EVP Karalyn Yearout sold 1,112 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $228.49, for a total value 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 $4,962,117.33. This represents a 4.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 company's stock in a transaction that occurred on Thursday, May 14th. The shares were 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 owned 938,524 shares in the company, valued at $161,998,627.64. This represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,634 shares of company stock worth $6,812,283 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WSM has been the topic of several analyst reports. Wells Fargo & Company set a $190.00 target price on shares of Williams-Sonoma and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Morgan Stanley set a $210.00 price objective on shares of Williams-Sonoma and gave the company an "equal weight" rating in a research note on Friday, May 22nd. 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 report on Tuesday, May 12th. Telsey Advisory Group restated an "outperform" rating and set a $225.00 price target (up from $220.00) on shares of Williams-Sonoma in a report on Friday, May 22nd. Finally, Barclays set a $190.00 price objective on shares of Williams-Sonoma and gave the stock an "equal weight" rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.12.

Williams-Sonoma Stock Down 0.1%

Shares of WSM opened at $226.41 on Monday. The business has a 50-day simple moving average of $215.79 and a two-hundred day simple moving average of $202.70. 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 $26.66 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 2.48 and a beta of 1.49.

Williams-Sonoma (NYSE:WSM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Williams-Sonoma, Inc. will post 9.39 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 21st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.76 per share. 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 payout ratio is 34.04%.

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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