Renasant Bank Sells 1,506 Shares of Williams-Sonoma, Inc. (NYSE:WSM)

Key Points

• Renasant Bank reduced its holdings in Williams-Sonoma, Inc. by 33.4%, selling 1,506 shares and now owning a total of 2,997 shares worth $474,000.
• Williams-Sonoma reported a quarterly EPS of $1.85, exceeding expectations and showing a 4.2% year-over-year revenue growth to $1.73 billion.
• The company announced a quarterly dividend of $0.66 per share, with a 1.3% dividend yield and a payout ratio of 29.90%.

Renasant Bank lowered its holdings in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 33.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,997 shares of the specialty retailer's stock after selling 1,506 shares during the period. Renasant Bank's holdings in Williams-Sonoma were worth $474,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sentry Investment Management LLC acquired a new stake in Williams-Sonoma during the first quarter worth approximately $32,000. Costello Asset Management INC acquired a new stake in Williams-Sonoma during the first quarter worth approximately $32,000. SOA Wealth Advisors LLC. acquired a new stake in Williams-Sonoma during the first quarter worth approximately $33,000. Wayfinding Financial LLC acquired a new stake in Williams-Sonoma during the first quarter worth approximately $35,000. Finally, Heck Capital Advisors LLC acquired a new stake in Williams-Sonoma during the fourth quarter worth approximately $37,000. Institutional investors own 99.29% of the company's stock.

Williams-Sonoma Price Performance

Shares of WSM opened at $200.79 on Tuesday. Williams-Sonoma, Inc. has a one year low of $125.33 and a one year high of $219.98. The company has a market cap of $24.70 billion, a P/E ratio of 22.74, a P/E/G ratio of 3.03 and a beta of 1.47. The firm has a 50 day simple moving average of $168.43 and a two-hundred day simple moving average of $173.25.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The specialty retailer reported $1.85 EPS for the quarter, beating the consensus estimate of $1.76 by $0.09. Williams-Sonoma had a net margin of 14.35% and a return on equity of 52.79%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned $3.48 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Williams-Sonoma, Inc. will post 8.36 earnings per share for the current fiscal year.

Williams-Sonoma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 18th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 18th. Williams-Sonoma's payout ratio is presently 29.90%.

Insiders Place Their Bets

In other Williams-Sonoma news, CEO Laura Alber sold 30,000 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $168.18, for a total transaction of $5,045,400.00. Following the sale, the chief executive officer owned 966,927 shares of the company's stock, valued at approximately $162,617,782.86. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Howie sold 4,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $168.96, for a total transaction of $675,840.00. Following the sale, the chief financial officer directly owned 34,388 shares in the company, valued at approximately $5,810,196.48. The trade was a 10.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,000 shares of company stock worth $11,279,580. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Williams-Sonoma from $201.00 to $174.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Baird R W upgraded shares of Williams-Sonoma from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Gordon Haskett upgraded shares of Williams-Sonoma from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Wednesday, July 23rd. Zelman & Associates started coverage on Williams-Sonoma in a research note on Thursday, May 15th. They issued an "underperform" rating for the company. Finally, Evercore ISI cut their price target on Williams-Sonoma from $175.00 to $170.00 and set an "in-line" rating for the company in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Williams-Sonoma presently has an average rating of "Hold" and an average target price of $178.41.

Williams-Sonoma Company Profile

Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.