Williams-Sonoma (NYSE:WSM) Hits New 1-Year High – Here’s Why

Shares of Williams-Sonoma, Inc. (NYSE:WSM) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $257.17 and last traded at $254.0540, with a volume of 122,607 shares. The stock had previously closed at $253.32.

Analyst Ratings Changes

Several equities analysts have recently commented on WSM shares. Jefferies Financial Group set a $275.00 price objective on Williams-Sonoma in a research report on Wednesday, August 26th. TD Cowen reiterated a “buy” rating on shares of Williams-Sonoma in a research report on Monday, August 10th. 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. Weiss Ratings raised Williams-Sonoma from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Guggenheim restated a “neutral” rating on shares of Williams-Sonoma in a research note on Thursday, August 27th. Ten equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.94.

Williams-Sonoma Trading Down 3.2%

The firm has a market cap of $29.75 billion, a PE ratio of 25.85, a PEG ratio of 2.82 and a beta of 1.48. The firm’s 50 day simple moving average is $234.87 and its 200 day simple moving average is $219.53.

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

Williams-Sonoma Announces Dividend

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

Insider Transactions at Williams-Sonoma

In other news, EVP Karalyn Yearout sold 522 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $239.36, for a total transaction of $124,945.92. Following the sale, the executive vice president directly owned 19,673 shares of the company’s stock, valued at $4,708,929.28. This represents a 2.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 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 owned 9,404 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 40,883 shares of company stock worth $9,117,518. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Williams-Sonoma

Several institutional investors have recently bought and sold shares of WSM. IMG Wealth Management Inc. bought a new position in shares of Williams-Sonoma during the second quarter valued at approximately $31,000. Meeder Asset Management Inc. bought a new stake in shares of Williams-Sonoma during the 2nd quarter worth approximately $35,000. Ballast Advisors LLC bought a new stake in shares of Williams-Sonoma during the 1st quarter worth approximately $30,000. Millstone Evans Group LLC lifted its stake in shares of Williams-Sonoma by 229.4% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Finally, Fiduciary Financial Advisors purchased a new position in Williams-Sonoma during the 2nd quarter valued at $40,000. Institutional investors own 99.29% of the company’s stock.

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.