Pictet Asset Management Holding SA Acquires 196,642 Shares of Williams-Sonoma, Inc. $WSM

Key Points

• Pictet Asset Management Holding SA increased its Williams-Sonoma stake by 156.1% in the first quarter, buying 196,642 additional shares and bringing its total to 322,583 shares valued at about $58.8 million.
• Williams-Sonoma beat quarterly expectations in its latest earnings report, posting EPS of $1.93 versus the $1.80 consensus and revenue of $1.81 billion, up 4.4% year over year.
• Analyst sentiment remains mixed but positive overall, with a consensus rating of “Moderate Buy” and an average price target of $211.47, even as some firms recently adjusted ratings and targets.

Pictet Asset Management Holding SA boosted its holdings in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 156.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,583 shares of the specialty retailer's stock after buying an additional 196,642 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.27% of Williams-Sonoma worth $58,817,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Williams-Sonoma during the fourth quarter worth $25,000. Atlantic Union Bankshares Corp increased its holdings in shares of Williams-Sonoma by 51.5% in the 4th quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 50 shares during the period. MidFirst Bank purchased a new position in shares of Williams-Sonoma in the 4th quarter valued at $30,000. DV Equities LLC bought a new position in shares of Williams-Sonoma in the 4th quarter worth $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Williams-Sonoma by 81.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 200 shares of the specialty retailer's stock worth $36,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 99.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WSM shares. UBS Group raised their price objective on Williams-Sonoma from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Wednesday, March 11th. Evercore set a $200.00 target price on shares of Williams-Sonoma in a report on Tuesday, April 14th. Citigroup decreased their price target 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. The Goldman Sachs Group upgraded shares of Williams-Sonoma from a "neutral" rating to a "buy" rating and raised their price target for the company from $185.00 to $218.00 in a report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Williams-Sonoma from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Williams-Sonoma presently has a consensus rating of "Moderate Buy" and an average target price of $211.47.

Williams-Sonoma Price Performance

Williams-Sonoma stock opened at $240.22 on Tuesday. Williams-Sonoma, Inc. has a 1-year low of $161.63 and a 1-year high of $244.65. The business has a fifty day moving average price of $201.22 and a 200-day moving average price of $197.77. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.62 and a beta of 1.51.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.13. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $1.85 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Williams-Sonoma, Inc. will post 9.39 earnings per share for the current fiscal 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 issued a dividend of $0.76 per share. The ex-dividend date 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 22.17%.

Insider Activity

In related news, EVP Karalyn Yearout sold 2,267 shares of Williams-Sonoma stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $192.49, for a total value of $436,374.83. Following the completion of the sale, the executive vice president directly owned 23,351 shares in the company, valued at $4,494,833.99. This trade represents a 8.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $172.61, for a total transaction of $3,452,200.00. Following the sale, the chief executive officer directly owned 938,524 shares in the company, valued at approximately $161,998,627.64. This represents a 2.09% 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. Insiders have sold a total of 55,320 shares of company stock worth $10,516,069 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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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