Centric Wealth Management Makes New $10.17 Million Investment in Williams-Sonoma, Inc. $WSM

Key Points

• Centric Wealth Management initiated a $10.17 million Williams-Sonoma position by purchasing 47,725 shares, making the retailer 1.6% of its portfolio. Institutional investors collectively own 99.29% of the company.
• Williams-Sonoma exceeded quarterly expectations, reporting $1.93 EPS versus the $1.80 consensus and $1.81 billion in revenue, up 4.4% year over year. The company also declared a quarterly dividend of $0.76 per share, equal to a 1.3% yield.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $231.88. Shares recently traded near $241.33, while insiders have sold 18,156 shares worth approximately $3.74 million over the past 90 days.

Centric Wealth Management bought a new position in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,725 shares of the specialty retailer's stock, valued at approximately $10,167,000. Williams-Sonoma comprises about 1.6% of Centric Wealth Management's portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of WSM. Brighton Jones LLC grew its position in Williams-Sonoma by 22.4% during the 4th quarter. Brighton Jones LLC now owns 6,742 shares of the specialty retailer's stock valued at $1,248,000 after purchasing an additional 1,236 shares during the last quarter. Bison Wealth LLC purchased a new position in Williams-Sonoma in the fourth quarter worth about $227,000. Woodline Partners LP bought a new position in shares of Williams-Sonoma in the first quarter worth approximately $1,644,000. Guggenheim Capital LLC lifted its stake in shares of Williams-Sonoma by 9.0% in the second quarter. Guggenheim Capital LLC now owns 4,153 shares of the specialty retailer's stock worth $678,000 after buying an additional 342 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Williams-Sonoma by 5.9% during the second quarter. Brown Advisory Inc. now owns 4,631 shares of the specialty retailer's stock valued at $757,000 after buying an additional 260 shares during the last quarter. 99.29% of the stock is currently owned by institutional investors.

Insider Transactions at Williams-Sonoma

In related news, CEO Laura Alber sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $200.00, for a total value of $3,000,000.00. Following the transaction, the chief executive officer owned 923,524 shares of the company's stock, valued at approximately $184,704,800. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 522 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $246.39, for a total transaction of $128,615.58. Following the sale, the executive vice president owned 20,195 shares of the company's stock, valued at $4,975,846.05. This trade represents a 2.52% 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. Over the last 90 days, insiders have sold 18,156 shares of company stock valued at $3,738,699. Corporate insiders own 1.10% of the company's stock.

Williams-Sonoma Trading Down 0.5%

Shares of WSM opened at $241.33 on Friday. The firm has a fifty day simple moving average of $229.71 and a two-hundred day simple moving average of $206.58. The firm has a market cap of $28.42 billion, a PE ratio of 27.02, a P/E/G ratio of 2.65 and a beta of 1.50. Williams-Sonoma, Inc. has a 1-year low of $165.51 and a 1-year high of $254.89.

Williams-Sonoma (NYSE:WSM - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. As a group, research analysts forecast that Williams-Sonoma, Inc. will post 9.38 EPS for the current fiscal year.

Williams-Sonoma Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Seaport Research Partners reissued a "buy" rating on shares of Williams-Sonoma in a research report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $261.00 price objective (up from $230.00) on shares of Williams-Sonoma in a research report on Tuesday. Argus set a $230.00 target price on Williams-Sonoma in a research note on Friday, May 29th. Piper Sandler assumed coverage on Williams-Sonoma in a report on Monday, July 27th. They issued an "overweight" rating and a $253.00 target price for the company. Finally, KeyCorp boosted their price target on Williams-Sonoma from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.88.

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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