Williams-Sonoma, Inc. $WSM Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management reduced its Williams-Sonoma stake by 1.6% in the fourth quarter, selling 57,131 shares and still holding about 3.5 million shares valued at roughly $622.4 million.
• Williams-Sonoma reported better-than-expected quarterly results, with EPS of $1.93 versus estimates of $1.80 and revenue of $1.81 billion, up 4.4% year over year.
• The company raised its quarterly dividend to $0.76 per share from $0.66, while analysts currently maintain a Moderate Buy consensus with an average price target of about $209.06.

Geode Capital Management LLC cut its stake in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,497,235 shares of the specialty retailer's stock after selling 57,131 shares during the quarter. Geode Capital Management LLC owned approximately 2.93% of Williams-Sonoma worth $622,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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 worth $26,000 after buying an additional 50 shares in the last quarter. Triumph Capital Management acquired a new position in shares of Williams-Sonoma during the third quarter worth about $37,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Williams-Sonoma by 66.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 220 shares of the specialty retailer's stock worth $43,000 after buying an additional 88 shares in the last quarter. Zions Bancorporation National Association UT grew its position in shares of Williams-Sonoma by 760.0% during the third quarter. Zions Bancorporation National Association UT now owns 258 shares of the specialty retailer's stock worth $50,000 after buying an additional 228 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Williams-Sonoma by 25.1% during the third quarter. Sentry Investment Management LLC now owns 274 shares of the specialty retailer's stock worth $52,000 after buying an additional 55 shares in the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.

Williams-Sonoma Stock Down 0.8%

Shares of WSM opened at $203.89 on Friday. The stock has a 50 day moving average price of $185.98 and a 200 day moving average price of $191.90. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.54 and a beta of 1.49. Williams-Sonoma, Inc. has a 52-week low of $152.20 and a 52-week high of $222.00.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.80 by $0.13. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Williams-Sonoma, Inc. will post 9.31 EPS for the current fiscal year.

Williams-Sonoma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, April 17th were paid a $0.76 dividend. This is an increase from Williams-Sonoma's previous quarterly dividend of $0.66. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, April 17th. Williams-Sonoma's dividend payout ratio (DPR) is presently 29.56%.

Insider Buying and Selling at Williams-Sonoma

In other Williams-Sonoma news, CEO Laura Alber sold 15,000 shares of the business's stock in a transaction that occurred 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 owned 923,524 shares in the company, valued at approximately $184,704,800. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 1,419 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $188.45, for a total value of $267,410.55. Following the completion of the sale, the chief financial officer owned 34,138 shares of the company's stock, valued at approximately $6,433,306.10. This represents a 3.99% 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. Over the last quarter, insiders sold 106,370 shares of company stock worth $19,720,823. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on WSM. TD Cowen lowered their price objective on Williams-Sonoma from $250.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, March 19th. Morgan Stanley set a $210.00 price target on Williams-Sonoma and gave the company an "equal weight" rating in a report on Friday, May 22nd. Royal Bank Of Canada set a $192.00 price target on Williams-Sonoma and gave the company an "outperform" rating in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Williams-Sonoma in a report on Monday, May 18th. Finally, The Goldman Sachs Group raised Williams-Sonoma from a "neutral" rating to a "buy" rating and upped their price target for the company from $185.00 to $218.00 in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.06.

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.

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