Williams-Sonoma, Inc. $WSM Stock Sold by Vest Financial LLC

Key Points

• Vest Financial reduced its Williams-Sonoma stake by 14.9% in the third quarter, selling 53,706 shares and retaining 306,392 shares worth approximately $69.8 million. Institutional investors collectively own 99.29% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $247.94. Williams-Sonoma recently exceeded quarterly earnings and revenue estimates, with revenue rising 6.7% year over year.
• Williams-Sonoma shares opened at $253.05, near their 12-month high of $256.86. The company also declared a quarterly dividend of $0.76 per share, equivalent to a 1.2% annualized yield.

Vest Financial LLC cut its position in shares of Williams-Sonoma, Inc. (NYSE:WSM - Free Report) by 14.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,392 shares of the specialty retailer's stock after selling 53,706 shares during the quarter. Vest Financial LLC owned approximately 0.26% of Williams-Sonoma worth $69,839,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Williams-Sonoma during the second quarter valued at about $2,656,062,000. Aristotle Capital Management LLC lifted its stake in shares of 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 valued at $2,031,242,000 after acquiring an additional 2,009,032 shares during the last quarter. Bank of America Corp DE purchased a new stake in Williams-Sonoma during the 2nd quarter valued at about $264,441,000. Bank of New York Mellon Corp purchased a new stake in Williams-Sonoma during the 2nd quarter valued at about $188,603,000. Finally, Deutsche Bank AG purchased a new stake in Williams-Sonoma during the 2nd quarter valued at about $166,622,000. Hedge funds and other institutional investors own 99.29% of the company's stock.

Insiders Place Their Bets

In other news, CFO Jeffrey Howie sold 3,045 shares of Williams-Sonoma stock in a transaction that occurred 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 approximately $7,531,184.18. This trade represents a 8.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anne A. Finucane sold 794 shares of the business's stock in a transaction that occurred on Friday, October 16th. The shares were 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 in the company, valued at $2,371,124.56. This trade represents a 7.79% 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 have sold a total of 40,883 shares of company stock valued at $9,117,518 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and set a $260.00 price target on shares of Williams-Sonoma in a research report on Thursday, August 27th. Bank of America reiterated a "buy" rating and issued a $261.00 price objective (up from $250.00) on shares of Williams-Sonoma in a research report on Monday, August 24th. TD Cowen reissued a "buy" rating on shares of Williams-Sonoma in a research note on Monday, August 10th. Wells Fargo & Company raised their target price on shares of Williams-Sonoma from $190.00 to $240.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Finally, Evercore set a $255.00 target price on shares of Williams-Sonoma in a research note on Tuesday. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $247.94.

Williams-Sonoma Trading Down 0.4%

Shares of NYSE:WSM opened at $253.05 on Thursday. The company has a market cap of $29.80 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.75 and a beta of 1.48. The company has a 50-day moving average price of $234.27 and a 200-day moving average price of $218.73. Williams-Sonoma, Inc. has a 12 month low of $165.51 and a 12 month high of $256.86.

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

Williams-Sonoma Dividend Announcement

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

Williams-Sonoma Company Profile

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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