Tocqueville Asset Management L.P. Purchases New Holdings in Williams-Sonoma, Inc. $WSM

Key Points

• Tocqueville Asset Management purchased 81,709 Williams-Sonoma shares worth approximately $19.0 million, acquiring a 0.07% stake. Institutional investors collectively own 99.29% of the company.
• Williams-Sonoma exceeded quarterly expectations with EPS of $1.93 versus the $1.80 consensus and revenue of $1.81 billion, up 4.4% year over year. The company also declared a quarterly dividend of $0.76, equivalent to a 1.3% annual yield.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $231.88, while the stock recently traded at $242.34. Executives sold shares under pre-arranged trading plans, totaling approximately $3.74 million over the past 90 days.

Tocqueville Asset Management L.P. purchased a new stake in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 81,709 shares of the specialty retailer's stock, valued at approximately $19,046,000. Tocqueville Asset Management L.P. owned approximately 0.07% of Williams-Sonoma as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WSM. Caitong International Asset Management Co. Ltd acquired a new position in shares of Williams-Sonoma in the fourth quarter valued at $25,000. Atlantic Union Bankshares Corp raised its stake 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 buying an additional 50 shares in the last quarter. MidFirst Bank acquired a new position in shares of Williams-Sonoma in the 4th quarter valued at $30,000. Ballast Advisors LLC bought a new position in shares of Williams-Sonoma during the 1st quarter worth about $30,000. Finally, Millstone Evans Group LLC lifted its holdings in shares of Williams-Sonoma by 229.4% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock worth $31,000 after acquiring an additional 117 shares during the period. Institutional investors own 99.29% of the company's stock.

Williams-Sonoma Stock Up 0.4%

Williams-Sonoma stock opened at $242.34 on Thursday. The stock has a 50-day simple moving average of $231.71 and a 200 day simple moving average of $207.33. The stock has a market capitalization of $28.54 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 2.65 and a beta of 1.50. Williams-Sonoma, Inc. has a 12-month low of $165.51 and a 12-month high of $254.89.

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 analysts' consensus estimates of $1.80 by $0.13. Williams-Sonoma had a net margin of 13.81% and a return on equity of 53.29%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The company's revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Williams-Sonoma, Inc. will post 9.38 EPS for the current year.

Williams-Sonoma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, July 17th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, July 17th. Williams-Sonoma's payout ratio is 34.04%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WSM. Weiss Ratings cut shares of Williams-Sonoma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Piper Sandler assumed coverage on shares of Williams-Sonoma in a research note on Monday, July 27th. They set an "overweight" rating and a $253.00 price target for the company. Seaport Research Partners reaffirmed a "buy" rating on shares of Williams-Sonoma in a report on Friday, August 14th. Bank of America began coverage on Williams-Sonoma in a report on Friday, June 12th. They issued a "buy" rating and a $250.00 target price for the company. Finally, TD Cowen restated a "buy" rating on shares of Williams-Sonoma in a research report on Monday, August 10th. One 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $231.88.

Insider Activity at Williams-Sonoma

In other news, CEO Laura Alber sold 15,000 shares of Williams-Sonoma stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $200.00, for a total value of $3,000,000.00. Following the completion of the sale, the chief executive officer directly owned 923,524 shares of the company's stock, valued at approximately $184,704,800. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 1,112 shares of Williams-Sonoma stock in a transaction on Monday, June 15th. The shares were sold at an average price of $228.49, for a total value of $254,080.88. Following the completion of the sale, the executive vice president directly owned 21,717 shares of the company's stock, valued at $4,962,117.33. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,156 shares of company stock valued at $3,738,699 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source