Ninepoint Partners LP Takes Position in Williams-Sonoma, Inc. $WSM

Key Points

• Ninepoint Partners initiated a Williams-Sonoma position by purchasing 27,217 shares valued at approximately $2.02 million. Institutional investors collectively own 99.29% of the company.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $231.88; several firms recently raised their targets to as high as $260.
• Williams-Sonoma exceeded quarterly expectations with $1.93 in EPS and $1.81 billion in revenue, while declaring a $0.76 quarterly dividend. Shares opened at $235.37, down 2.9%, and insiders have sold roughly $3.74 million of stock over the past three months.

Ninepoint Partners LP bought a new stake in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,217 shares of the specialty retailer's stock, valued at approximately $2,023,000.

Other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in shares of Williams-Sonoma in the second quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Williams-Sonoma during the fourth quarter worth about $25,000. Atlantic Union Bankshares Corp grew its position in Williams-Sonoma by 51.5% in the 4th quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Williams-Sonoma in the second quarter worth $35,000. Finally, Ballast Advisors LLC bought a new position in Williams-Sonoma in the 1st quarter valued at $30,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WSM. Telsey Advisory Group upped their price target on Williams-Sonoma from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Evercore set a $240.00 target price on Williams-Sonoma in a research note on Tuesday, August 4th. TD Cowen reissued a "buy" rating on shares of Williams-Sonoma in a report on Monday, August 10th. KeyCorp lifted their price target on Williams-Sonoma from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada upped their target price on shares of Williams-Sonoma from $192.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. One equities 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. According to MarketBeat.com, Williams-Sonoma currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

Williams-Sonoma Stock Down 2.9%

Shares of Williams-Sonoma stock opened at $235.37 on Friday. The business has a 50 day moving average of $232.05 and a 200 day moving average of $207.54. Williams-Sonoma, Inc. has a 52 week low of $165.51 and a 52 week high of $254.89. The company has a market cap of $27.71 billion, a PE ratio of 26.36, a P/E/G ratio of 2.66 and a beta of 1.50.

Williams-Sonoma (NYSE:WSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The specialty retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. The business 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 company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. On average, research analysts anticipate that Williams-Sonoma, Inc. will post 9.38 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 given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 17th. Williams-Sonoma's payout ratio is currently 34.04%.

Insider Buying and Selling

In related news, EVP Karalyn Yearout sold 522 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $246.39, for a total value of $128,615.58. Following the transaction, the executive vice president directly owned 20,195 shares of the company's stock, valued at approximately $4,975,846.05. This represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing 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 company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following 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. Over the last three months, insiders sold 18,156 shares of company stock worth $3,738,699. Insiders own 1.10% of the company's stock.

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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