Williams-Sonoma (NYSE:WSM) Price Target Cut to $200.00 by Analysts at Citigroup

Key Points

• Citigroup lowered its price target on Williams-Sonoma from $208 to $200 while keeping a neutral rating, implying about 13% upside from the prior close.
• Analyst sentiment remains mixed but generally positive: Goldman Sachs upgraded the stock to buy, while the consensus rating is Moderate Buy with an average target price of $209.06.
• Williams-Sonoma beat earnings per share estimates in its latest quarter, but revenue came in below expectations and fell 4.3% year over year; the stock was trading at $176.80, up 0.4% on the day.

Williams-Sonoma (NYSE:WSM - Get Free Report) had its price objective dropped by equities researchers at Citigroup from $208.00 to $200.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. Citigroup's target price suggests a potential upside of 13.12% from the stock's previous close.

A number of other research firms also recently issued reports on WSM. The Goldman Sachs Group raised shares of Williams-Sonoma from a "neutral" rating to a "buy" rating and increased their price target for the stock from $185.00 to $218.00 in a research note on Monday, April 13th. Robert W. Baird decreased their price target on shares of Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. Weiss Ratings raised shares of Williams-Sonoma from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. UBS Group increased their price target on shares of Williams-Sonoma from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 11th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $220.00 price target on shares of Williams-Sonoma in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Williams-Sonoma has a consensus rating of "Moderate Buy" and an average target price of $209.06.

Williams-Sonoma Stock Up 0.4%

Shares of Williams-Sonoma stock traded up $0.70 during trading on Tuesday, reaching $176.80. 484,472 shares of the stock were exchanged, compared to its average volume of 1,144,874. The stock's fifty day moving average is $187.07 and its 200 day moving average is $192.69. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.49. Williams-Sonoma has a 1 year low of $147.39 and a 1 year high of $222.00.

Williams-Sonoma (NYSE:WSM - Get Free Report) last posted its earnings results on Wednesday, March 18th. The specialty retailer reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.14. Williams-Sonoma had a net margin of 13.94% and a return on equity of 51.45%. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $3.28 earnings per share. Williams-Sonoma's revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts forecast that Williams-Sonoma will post 9.24 earnings per share for the current year.

Insider Activity

In other news, CEO Laura Alber sold 15,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $200.00, for a total transaction of $3,000,000.00. Following the sale, the chief executive officer owned 958,524 shares in the company, valued at $191,704,800. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 2,267 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $192.49, for a total transaction of $436,374.83. Following the sale, the executive vice president owned 23,351 shares in the company, valued at approximately $4,494,833.99. The trade was a 8.85% 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. Insiders have sold a total of 71,370 shares of company stock worth $13,268,623 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Williams-Sonoma

A number of institutional investors have recently made changes to their positions in the company. Oslo Pensjonsforsikring AS purchased a new stake in Williams-Sonoma in the first quarter worth approximately $110,000. Baader Bank Aktiengesellschaft purchased a new stake in Williams-Sonoma in the first quarter worth approximately $452,000. Meeder Advisory Services Inc. boosted its holdings in Williams-Sonoma by 9.7% in the first quarter. Meeder Advisory Services Inc. now owns 1,324 shares of the specialty retailer's stock worth $241,000 after purchasing an additional 117 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Williams-Sonoma by 1.4% in the first 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 last quarter. Finally, Parallel Advisors LLC boosted its holdings in Williams-Sonoma by 2.2% in the first quarter. Parallel Advisors LLC now owns 3,203 shares of the specialty retailer's stock worth $584,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

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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