Bank of Stockton Trims Position in Williams-Sonoma, Inc. $WSM

Key Points

• Bank of Stockton reduced its stake in Williams-Sonoma by 36.8% in the first quarter, selling 4,776 shares and leaving it with 8,215 shares valued at about $1.5 million.
• Williams-Sonoma reported better-than-expected quarterly results, with EPS of $1.93 versus estimates of $1.80 and revenue of $1.81 billion, up 4.4% year over year.
• The company also announced a quarterly dividend of $0.76 per share, while analysts currently hold a consensus rating of Moderate Buy with an average target price of $212.65.

Bank of Stockton cut its stake in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,215 shares of the specialty retailer's stock after selling 4,776 shares during the period. Bank of Stockton's holdings in Williams-Sonoma were worth $1,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WSM. Brighton Jones LLC raised its position in shares of Williams-Sonoma by 22.4% in the fourth quarter. Brighton Jones LLC now owns 6,742 shares of the specialty retailer's stock worth $1,248,000 after buying an additional 1,236 shares in the last quarter. Bison Wealth LLC bought a new position in Williams-Sonoma in the 4th quarter worth about $227,000. Woodline Partners LP purchased a new stake in shares of Williams-Sonoma in the 1st quarter valued at about $1,644,000. Guggenheim Capital LLC boosted its position in shares of Williams-Sonoma by 9.0% during 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 last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Williams-Sonoma by 5.9% during 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 last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Williams-Sonoma news, CEO Laura Alber sold 20,000 shares of Williams-Sonoma stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 938,524 shares of the company's stock, valued at $161,998,627.64. The trade was a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 1,112 shares of the business's 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. The trade was a 4.87% decrease in their position. 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 quarter, insiders sold 51,634 shares of company stock worth $9,812,283. Company insiders own 1.10% of the company's stock.

Williams-Sonoma Price Performance

Shares of WSM opened at $222.57 on Wednesday. Williams-Sonoma, Inc. has a 1 year low of $161.76 and a 1 year high of $244.65. The stock has a 50 day simple moving average of $204.78 and a two-hundred day simple moving average of $199.48. The firm has a market cap of $26.21 billion, a P/E ratio of 24.92, a P/E/G ratio of 2.45 and a beta of 1.49.

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 for the quarter, topping analysts' consensus estimates of $1.80 by $0.13. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Williams-Sonoma had a net margin of 13.81% and a return on equity of 53.29%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 17th. Williams-Sonoma's dividend payout ratio (DPR) is 34.04%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WSM shares. UBS Group upped their price objective on shares of Williams-Sonoma from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. 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. TD Cowen cut their price target on shares of Williams-Sonoma from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, March 19th. Royal Bank Of Canada set a $192.00 price target on shares of Williams-Sonoma and gave the stock an "outperform" rating in a report on Friday, May 22nd. Finally, Evercore set a $200.00 price objective on shares of Williams-Sonoma in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $212.65.

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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