L2 Asset Management LLC Has $503,000 Stake in Williams-Sonoma, Inc. $WSM

Key Points

• L2 Asset Management cut its Williams-Sonoma stake by 73.8% in the fourth quarter, leaving it with 2,819 shares valued at about $503,000.
• Williams-Sonoma reported stronger-than-expected quarterly results, with EPS of $1.93 topping estimates and revenue of $1.81 billion slightly above forecasts.
• The company also announced a $0.76 quarterly dividend payable on August 21, while analysts currently view the stock as a Moderate Buy with a consensus price target of $211.47.

L2 Asset Management LLC decreased its position in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 73.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,819 shares of the specialty retailer's stock after selling 7,944 shares during the quarter. L2 Asset Management LLC's holdings in Williams-Sonoma were worth $503,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Williams-Sonoma by 2.5% during the 3rd quarter. State Street Corp now owns 6,139,477 shares of the specialty retailer's stock valued at $1,199,961,000 after acquiring an additional 147,780 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Williams-Sonoma by 7.5% during the 4th quarter. First Trust Advisors LP now owns 2,440,452 shares of the specialty retailer's stock valued at $435,840,000 after acquiring an additional 170,991 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Williams-Sonoma by 7.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,919,466 shares of the specialty retailer's stock valued at $342,797,000 after acquiring an additional 130,940 shares in the last quarter. Norges Bank acquired a new stake in shares of Williams-Sonoma during the 4th quarter valued at $316,920,000. Finally, Boston Partners acquired a new stake in shares of Williams-Sonoma during the 3rd quarter valued at $254,778,000. Institutional investors and hedge funds own 99.29% of the company's stock.

Insider Activity

In other news, CFO Jeffrey Howie sold 1,419 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $188.45, for a total value of $267,410.55. Following the completion of the sale, the chief financial officer owned 34,138 shares of the company's stock, valued at approximately $6,433,306.10. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 15,000 shares of Williams-Sonoma stock in a transaction dated 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 completion of the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 88,004 shares of company stock valued at $16,420,107. Company insiders own 1.10% of the company's stock.

Williams-Sonoma Trading Up 1.9%

Shares of WSM stock opened at $227.61 on Wednesday. The stock has a market cap of $26.80 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.42 and a beta of 1.51. The stock has a 50-day moving average of $193.58 and a 200-day moving average of $194.48. Williams-Sonoma, Inc. has a 1-year low of $154.11 and a 1-year high of $230.95.

Williams-Sonoma (NYSE:WSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.13. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.80 billion. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Sell-side analysts forecast that Williams-Sonoma, Inc. will post 9.49 earnings per share for the current year.

Williams-Sonoma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 17th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $3.04 annualized dividend and a dividend yield of 1.3%. Williams-Sonoma's dividend payout ratio is presently 29.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company set a $190.00 price objective on Williams-Sonoma and gave the company an "equal weight" rating in a report on Friday, May 22nd. Robert W. Baird cut their price objective on Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, March 19th. UBS Group raised their price objective on Williams-Sonoma from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Wednesday, March 11th. TD Cowen cut their price objective on Williams-Sonoma from $250.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, March 19th. Finally, The Goldman Sachs Group raised Williams-Sonoma from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $185.00 to $218.00 in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Williams-Sonoma has a consensus rating of "Moderate Buy" and a consensus price target of $211.47.

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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