Williams-Sonoma, Inc. $WSM Stock Sold by Investment House LLC

Key Points

• Investment House LLC reduced its Williams-Sonoma position by 17.7% in the third quarter, selling 23,413 shares and retaining 108,633 shares worth approximately $24.8 million. Institutional investors and hedge funds collectively own 99.29% of the company.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $247.94; recent targets ranged from $240 to $286.
• Williams-Sonoma reported quarterly revenue of $1.96 billion and EPS of $2.10, exceeding analyst expectations, while revenue increased 6.7% year over year. The company also declared a quarterly dividend of $0.76 per share, representing a 1.2% yield.

Investment House LLC cut its position in Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,633 shares of the specialty retailer's stock after selling 23,413 shares during the quarter. Williams-Sonoma accounts for 1.1% of Investment House LLC's holdings, making the stock its 17th largest holding. Investment House LLC owned approximately 0.09% of Williams-Sonoma worth $24,762,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in shares of Williams-Sonoma in the second quarter valued at approximately $31,000. Meeder Asset Management Inc. purchased a new stake in Williams-Sonoma during the 2nd quarter worth approximately $35,000. Ballast Advisors LLC purchased a new stake in Williams-Sonoma during the 1st quarter worth approximately $30,000. Millstone Evans Group LLC boosted its position in Williams-Sonoma by 229.4% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock valued at $31,000 after buying an additional 117 shares during the period. Finally, Fiduciary Financial Advisors purchased a new position in Williams-Sonoma in the 2nd quarter valued at approximately $40,000. 99.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Bank of America reaffirmed a "buy" rating and set a $261.00 price objective (up from $250.00) on shares of Williams-Sonoma in a research report on Monday, August 24th. Credit Suisse Group set a $261.00 price objective on Williams-Sonoma in a research note on Monday, August 24th. Wells Fargo & Company lifted their target price on Williams-Sonoma from $190.00 to $240.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Piper Sandler reissued an "overweight" rating and set a $286.00 target price (up from $259.00) on shares of Williams-Sonoma in a research note on Tuesday. Finally, Seaport Research Partners restated a "buy" rating on shares of Williams-Sonoma in a report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Williams-Sonoma has an average rating of "Moderate Buy" and a consensus target price of $247.94.

Insiders Place Their Bets

In other Williams-Sonoma news, EVP Karalyn Yearout sold 1,000 shares of Williams-Sonoma stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $250.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president directly owned 20,717 shares of the company's stock, valued at $5,179,250. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anne A. Finucane sold 794 shares of the company's stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $252.14, for a total value of $200,199.16. Following the transaction, the director directly owned 9,404 shares of the company's stock, valued at approximately $2,371,124.56. This represents a 7.79% 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. Over the last ninety days, insiders sold 40,883 shares of company stock worth $9,117,518. 1.10% of the stock is owned by corporate insiders.

Williams-Sonoma Stock Up 3.0%

Shares of Williams-Sonoma stock opened at $260.97 on Friday. Williams-Sonoma, Inc. has a 52-week low of $165.51 and a 52-week high of $261.11. The company has a 50 day moving average of $234.65 and a 200 day moving average of $219.29. The company has a market capitalization of $30.74 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.74 and a beta of 1.48.

Williams-Sonoma (NYSE:WSM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Williams-Sonoma had a net margin of 14.73% and a return on equity of 53.48%. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The firm's revenue was up 6.7% on a year-over-year basis. As a group, research analysts anticipate that Williams-Sonoma, Inc. will post 9.51 earnings per share for the current fiscal year.

Williams-Sonoma Dividend Announcement

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

About Williams-Sonoma

Williams-Sonoma, Inc is a specialty retailer focused on home furnishings, décor, kitchenware and related products. The company operates a portfolio of lifestyle brands, including Williams Sonoma, Pottery Barn, West Elm, Pottery Barn Kids, Rejuvenation and Mark & Graham.

Its products include cookware, tableware, appliances, furniture, bedding, lighting, rugs, home accessories, gifts and personalized merchandise. Williams-Sonoma reaches customers through e-commerce websites, retail stores, catalogs and trade and contract sales, serving both individual consumers and professional customers such as interior designers and hospitality businesses.

Founded in 1956 by Chuck Williams, the company began as a retailer specializing in high-quality French cookware before expanding into a broader home-focused portfolio.

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