Pacific Heights Asset Management LLC Grows Stock Holdings in Williams-Sonoma, Inc. $WSM

Key Points

• Pacific Heights Asset Management increased its Williams-Sonoma stake by 15.4% in the fourth quarter, buying 20,000 additional shares to bring its total to 150,000 shares valued at about $26.8 million.
• Several other institutional investors also boosted holdings, and hedge funds and other institutions now own 99.29% of Williams-Sonoma’s stock.
• Williams-Sonoma posted quarterly EPS of $3.04, beating estimates, and raised its dividend to $0.76 per share from $0.66, while analysts currently view the stock as a Moderate Buy with an average price target of $207.81.

Pacific Heights Asset Management LLC lifted its position in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,000 shares of the specialty retailer's stock after buying an additional 20,000 shares during the quarter. Pacific Heights Asset Management LLC owned approximately 0.13% of Williams-Sonoma worth $26,788,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EFG Asset Management North America Corp. boosted its holdings in Williams-Sonoma by 51.5% during the 3rd quarter. EFG Asset Management North America Corp. now owns 14,593 shares of the specialty retailer's stock valued at $2,852,000 after acquiring an additional 4,961 shares during the period. Principal Financial Group Inc. lifted its position in shares of Williams-Sonoma by 30.2% during the third quarter. Principal Financial Group Inc. now owns 997,414 shares of the specialty retailer's stock worth $194,947,000 after purchasing an additional 231,489 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Williams-Sonoma by 10.2% in the fourth quarter. Nordea Investment Management AB now owns 972,810 shares of the specialty retailer's stock valued at $174,473,000 after purchasing an additional 89,779 shares in the last quarter. Vest Financial LLC increased its stake in Williams-Sonoma by 39.5% during the 3rd quarter. Vest Financial LLC now owns 282,503 shares of the specialty retailer's stock worth $55,215,000 after buying an additional 80,044 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Williams-Sonoma by 30.7% during the 3rd quarter. First Trust Advisors LP now owns 2,269,461 shares of the specialty retailer's stock worth $443,566,000 after buying an additional 532,995 shares in the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Insider Activity

In related news, CEO Laura Alber sold 20,000 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $183.04, for a total transaction of $3,660,800.00. Following the completion of the sale, the chief executive officer owned 786,537 shares in the company, valued at $143,967,732.48. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Howie sold 32,684 shares of the company's stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $180.64, for a total value of $5,904,037.76. Following the completion of the transaction, the chief financial officer directly owned 34,138 shares of the company's stock, valued at $6,166,688.32. This trade represents a 48.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 71,370 shares of company stock worth $13,268,623. 1.10% of the stock is currently owned by insiders.

Williams-Sonoma Trading Down 0.1%

Shares of NYSE:WSM opened at $168.51 on Monday. Williams-Sonoma, Inc. has a 52 week low of $147.39 and a 52 week high of $222.00. The company's 50 day moving average is $184.81 and its two-hundred day moving average is $192.21. The company has a market cap of $19.84 billion, a PE ratio of 19.04, a P/E/G ratio of 2.11 and a beta of 1.49.

Williams-Sonoma (NYSE:WSM - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The specialty retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.14. The business had revenue of $2.36 billion during the quarter, compared to analysts' expectations of $2.41 billion. Williams-Sonoma had a net margin of 13.94% and a return on equity of 51.45%. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.28 EPS. As a group, equities research analysts expect that Williams-Sonoma, Inc. will post 9.26 EPS for the current year.

Williams-Sonoma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 17th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $3.04 annualized dividend and a dividend yield of 1.8%. This is an increase from Williams-Sonoma's previous quarterly dividend of $0.66. Williams-Sonoma's payout ratio is currently 29.83%.

Analyst Ratings Changes

Several research firms have commented on WSM. Telsey Advisory Group restated an "outperform" rating and issued a $220.00 price target on shares of Williams-Sonoma in a research note on Thursday, March 12th. Barclays lifted their target price on Williams-Sonoma from $180.00 to $186.00 and gave the company an "equal weight" rating in a report on Friday, March 20th. Robert W. Baird lowered their target price on Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. Zelman & Associates upgraded Williams-Sonoma from an "underperform" rating to a "neutral" rating and set a $205.00 price target on the stock in a report on Thursday, January 29th. Finally, Evercore set a $200.00 price target on Williams-Sonoma in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Williams-Sonoma currently has a consensus rating of "Moderate Buy" and an average price target of $207.81.

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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