Williams-Sonoma's (WSM) Buy Rating Reaffirmed at Bank of America

Key Points

• Bank of America reaffirmed its “buy” rating on Williams-Sonoma and kept a $250 price target, implying about 14.35% upside from the prior close.
• Williams-Sonoma’s latest quarterly results were solid, with EPS of $1.93 beating estimates and revenue of $1.81 billion slightly above expectations; revenue rose 4.4% year over year.
• Analyst sentiment remains mixed but constructive overall: the stock has a Moderate Buy consensus with an average price target of $211.47, while the shares were trading near their 52-week high at $218.62.

Williams-Sonoma (NYSE:WSM - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Bank of America in a note issued to investors on Friday,Benzinga reports. They presently have a $250.00 price objective on the specialty retailer's stock. Bank of America's target price suggests a potential upside of 14.35% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Citigroup reduced their target price on Williams-Sonoma from $208.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 12th. The Goldman Sachs Group raised Williams-Sonoma from a "neutral" rating to a "buy" rating and boosted their target price for the company from $185.00 to $218.00 in a research note on Monday, April 13th. TD Cowen reduced their target price on Williams-Sonoma from $250.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. Robert W. Baird reduced their target price on Williams-Sonoma from $235.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Finally, Morgan Stanley set a $210.00 target price on Williams-Sonoma and gave the company an "equal weight" rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.47.

Williams-Sonoma Stock Performance

Shares of WSM stock opened at $218.62 on Friday. Williams-Sonoma has a fifty-two week low of $152.20 and a fifty-two week high of $222.00. The stock has a 50 day moving average price of $190.93 and a two-hundred day moving average price of $193.50. The company has a market capitalization of $25.74 billion, a P/E ratio of 24.48, a PEG ratio of 2.44 and a beta of 1.51.

Williams-Sonoma (NYSE:WSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.13. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Williams-Sonoma will post 9.34 earnings per share for the current year.

Insiders Place Their Bets

In other Williams-Sonoma news, EVP Karalyn Yearout sold 2,267 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $192.49, for a total value of $436,374.83. Following the completion of the transaction, the executive vice president owned 23,351 shares in the company, valued at approximately $4,494,833.99. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 20,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $183.04, for a total value of $3,660,800.00. Following the completion of the transaction, the chief executive officer owned 786,537 shares of the company's stock, valued at approximately $143,967,732.48. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 106,892 shares of company stock worth $19,826,826. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Williams-Sonoma

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Williams-Sonoma in the fourth quarter worth $25,000. Atlantic Union Bankshares Corp raised its holdings in Williams-Sonoma by 51.5% in the fourth quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. MidFirst Bank bought a new position in Williams-Sonoma in the fourth quarter worth $30,000. Millstone Evans Group LLC raised its holdings in Williams-Sonoma by 229.4% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Finally, DV Equities LLC bought a new position in Williams-Sonoma in the fourth quarter worth $31,000. 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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