Principal Financial Group Inc. Sells 26,389 Shares of Williams-Sonoma, Inc. $WSM

Key Points

• Principal Financial Group trimmed its Williams-Sonoma stake by 2.6% in the first quarter, selling 26,389 shares and ending with 988,254 shares valued at about $180.2 million.
• Wall Street remains cautiously bullish on Williams-Sonoma, with an average “Moderate Buy” rating and a consensus price target of $212.65; several firms recently raised or maintained positive targets, including Bank of America and KeyCorp.
• Insiders have also been selling shares, including CEO Laura Alber and EVP Karalyn Yearout, while the company recently beat earnings expectations and declared a quarterly dividend of $0.76 per share.

Principal Financial Group Inc. lessened its stake in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 988,254 shares of the specialty retailer's stock after selling 26,389 shares during the quarter. Principal Financial Group Inc. owned approximately 0.83% of Williams-Sonoma worth $180,189,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Williams-Sonoma in the 4th quarter worth $25,000. Atlantic Union Bankshares Corp grew its position in shares of Williams-Sonoma by 51.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. MidFirst Bank purchased a new position in shares of Williams-Sonoma during the fourth quarter valued at about $30,000. Millstone Evans Group LLC increased its holdings in shares of Williams-Sonoma by 229.4% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 117 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of Williams-Sonoma in the fourth quarter worth about $31,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WSM has been the subject of a number of research reports. Royal Bank Of Canada set a $192.00 price target on Williams-Sonoma and gave the company an "outperform" rating in a research note on Friday, May 22nd. Bank of America started coverage on Williams-Sonoma in a report on Friday, June 12th. They set a "buy" rating and a $250.00 price objective on the stock. KeyCorp raised their target price on shares of Williams-Sonoma from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Robert W. Baird reduced their price target on shares of Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, March 19th. Finally, Argus set a $230.00 price target on shares of Williams-Sonoma in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $212.65.

Insiders Place Their Bets

In other Williams-Sonoma news, EVP Karalyn Yearout sold 1,112 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $228.49, for a total value of $254,080.88. Following the sale, the executive vice president owned 21,717 shares in the company, valued at $4,962,117.33. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 20,000 shares of Williams-Sonoma stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $172.61, for a total value of $3,452,200.00. Following the sale, the chief executive officer owned 938,524 shares of the company's stock, valued at approximately $161,998,627.64. This trade represents a 2.09% 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. In the last 90 days, insiders have sold 51,634 shares of company stock valued at $9,812,283. 1.10% of the stock is owned by company insiders.

Williams-Sonoma Price Performance

Williams-Sonoma stock opened at $220.63 on Wednesday. The firm has a market capitalization of $25.98 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.37 and a beta of 1.49. Williams-Sonoma, Inc. has a 1-year low of $161.76 and a 1-year high of $244.65. The company's 50-day moving average is $208.30 and its 200 day moving average is $200.53.

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. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 earnings per share. Research analysts anticipate that Williams-Sonoma, Inc. will post 9.39 earnings per share for the current fiscal year.

Williams-Sonoma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 17th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 17th. Williams-Sonoma's dividend payout ratio (DPR) is currently 22.17%.

Williams-Sonoma 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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