Williams-Sonoma (NYSE:WSM) CFO Jeffrey Howie Sells 3,045 Shares

Key Points

• Williams-Sonoma CFO Jeffrey Howie sold 3,045 shares at an average price of $220.61, totaling approximately $671,757. The Rule 10b5-1 transaction reduced his direct holdings by 8.19% to 34,138 shares.
• Williams-Sonoma shares rose 2.4% to $224.08, while the company’s latest quarterly results exceeded expectations: earnings were $2.10 per share on $1.96 billion in revenue, with revenue up 6.7% year over year.
• The company declared a quarterly dividend of $0.76 per share, equivalent to a $3.04 annualized payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $245.56.

Williams-Sonoma, Inc. (NYSE:WSM - Get Free Report) CFO Jeffrey Howie sold 3,045 shares of the business'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 transaction, the chief financial officer directly owned 34,138 shares in the company, valued at $7,531,184.18. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Williams-Sonoma Stock Up 2.4%

Shares of WSM traded up $5.16 during midday trading on Friday, reaching $224.08. The company had a trading volume of 2,727,938 shares, compared to its average volume of 1,159,980. Williams-Sonoma, Inc. has a 1-year low of $165.51 and a 1-year high of $254.89. The stock has a market cap of $26.39 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. The firm has a 50 day simple moving average of $232.13 and a 200-day simple moving average of $209.74.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share for the quarter, beating 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 firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The company's revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Williams-Sonoma, Inc. will post 9.51 earnings per share for the current fiscal year.

Williams-Sonoma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 16th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $3.04 annualized dividend and a yield of 1.4%. Williams-Sonoma's dividend payout ratio (DPR) is 31.12%.

Hedge Funds Weigh In On Williams-Sonoma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Florida Financial Advisors LLC lifted its position in shares of Williams-Sonoma by 2.3% during the 4th quarter. Florida Financial Advisors LLC now owns 2,534 shares of the specialty retailer's stock worth $453,000 after purchasing an additional 58 shares during the last quarter. Brown Lisle Cummings Inc. lifted its holdings in Williams-Sonoma by 11.1% during the 1st quarter. Brown Lisle Cummings Inc. now owns 622 shares of the specialty retailer's stock worth $113,000 after buying an additional 62 shares during the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Williams-Sonoma by 0.6% during the 1st quarter. Mediolanum International Funds Ltd now owns 11,262 shares of the specialty retailer's stock worth $1,992,000 after acquiring an additional 67 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Williams-Sonoma by 2.2% during the 1st quarter. Parallel Advisors LLC now owns 3,203 shares of the specialty retailer's stock worth $584,000 after acquiring an additional 70 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Williams-Sonoma by 1.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,972 shares of the specialty retailer's stock valued at $926,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WSM. Bank of America restated a "buy" rating and issued a $261.00 price objective (up from $250.00) on shares of Williams-Sonoma in a report on Monday, August 24th. TD Cowen restated a "buy" rating on shares of Williams-Sonoma in a report on Monday, August 10th. Guggenheim reiterated a "neutral" rating on shares of Williams-Sonoma in a report on Thursday, August 27th. Barclays set a $190.00 price target on Williams-Sonoma and gave the stock an "equal weight" rating in a research note on Friday, May 22nd. Finally, Jefferies Financial Group set a $275.00 price objective on Williams-Sonoma in a research note on Wednesday, August 26th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $245.56.

About Williams-Sonoma

Williams-Sonoma, Inc is a specialty retailer focused on high-quality home furnishings, housewares and lifestyle products. The company sells furniture, bedding, bath goods, lighting, rugs, window treatments, home décor, kitchen equipment, cookware, tabletop products, outdoor furnishings and related accessories through e-commerce platforms, catalogs and retail stores.

The company operates a portfolio of brands that includes Williams Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, West Elm, Mark & Graham and Rejuvenation.

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