Williams-Sonoma, Inc. $WSM Stock Sold by Edgemoor Investment Advisors Inc.

Key Points

• Edgemoor Investment Advisors cut its Williams-Sonoma stake by 3.1%, selling 5,305 shares in the third quarter. It still held 165,260 shares, valued at about $37.7 million.
• Other major investors, including Aristotle Capital and State Street, increased their holdings; institutional investors collectively own 99.29% of the company’s stock.
• Williams-Sonoma beat quarterly earnings and revenue estimates, with sales up 6.7% year over year. The company also declared a quarterly dividend of $0.76 per share, equivalent to a 1.2% yield.

Edgemoor Investment Advisors Inc. decreased its stake in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,260 shares of the specialty retailer's stock after selling 5,305 shares during the period. Williams-Sonoma makes up 2.5% of Edgemoor Investment Advisors Inc.'s portfolio, making the stock its 11th largest holding. Edgemoor Investment Advisors Inc. owned approximately 0.14% of Williams-Sonoma worth $37,669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new position in Williams-Sonoma during the 2nd quarter valued at $2,656,062,000. Aristotle Capital Management LLC grew its position in Williams-Sonoma by 22.0% in the 1st quarter. Aristotle Capital Management LLC now owns 11,140,471 shares of the specialty retailer's stock worth $2,031,242,000 after purchasing an additional 2,009,032 shares during the last quarter. State Street Corp grew its position in Williams-Sonoma by 1.9% in the 2nd quarter. State Street Corp now owns 5,906,785 shares of the specialty retailer's stock worth $1,376,872,000 after purchasing an additional 112,683 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Williams-Sonoma by 9.2% during the 1st quarter. First Trust Advisors LP now owns 2,664,580 shares of the specialty retailer's stock worth $485,833,000 after purchasing an additional 224,128 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Williams-Sonoma by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,479,064 shares of the specialty retailer's stock worth $269,640,000 after purchasing an additional 20,886 shares during the period. Institutional investors own 99.29% of the company's stock.

Williams-Sonoma Stock Down 0.1%

NYSE:WSM opened at $253.90 on Monday. The firm has a market capitalization of $29.90 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 2.75 and a beta of 1.48. Williams-Sonoma, Inc. has a 12-month low of $165.51 and a 12-month high of $274.45. The firm has a 50-day moving average price of $238.58 and a 200 day moving average price of $216.02.

Williams-Sonoma (NYSE:WSM - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Williams-Sonoma had a return on equity of 53.48% and a net margin of 14.73%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The company's quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts expect that Williams-Sonoma, Inc. will post 9.50 EPS for the current year.

Williams-Sonoma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 16th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $3.04 annualized dividend and a yield of 1.2%. Williams-Sonoma's payout ratio is currently 31.12%.

Insider Buying and Selling

In other Williams-Sonoma news, CFO Jeffrey Howie sold 3,045 shares of the company's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $220.61, for a total value of $671,757.45. Following the sale, the chief financial officer directly owned 34,138 shares in the company, valued at $7,531,184.18. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 35,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $221.20, for a total value of $7,742,000.00. Following the transaction, the chief executive officer owned 853,524 shares of the company's stock, valued at $188,799,508.80. This represents a 3.94% 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 39,361 shares of company stock worth $8,738,903 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Williams-Sonoma from $190.00 to $240.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Seaport Research Partners reissued a "buy" rating on shares of Williams-Sonoma in a research report on Friday, August 14th. Evercore set a $255.00 target price on Williams-Sonoma in a research report on Tuesday, October 20th. Argus boosted their price target on Williams-Sonoma from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $261.00 price target (up from $230.00) on shares of Williams-Sonoma in a report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.17.

Williams-Sonoma Company Profile

Williams-Sonoma, Inc is a specialty retailer focused on home furnishings, kitchenware and related products. Its portfolio includes Williams Sonoma, Pottery Barn, Pottery Barn Kids and Teen, West Elm, Rejuvenation, and Mark and Graham, with offerings ranging from cookware and furniture to lighting, textiles, décor and gifts.

Founded in 1956 by Chuck Williams as a cookware shop in Sonoma, California, the company has grown into a multichannel retailer. It sells through its websites and retail stores, serving customers in North America and select international markets.

Laura Alber is the company's chief executive officer.

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