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Advisors Capital Management LLC increased its stake in Williams-Sonoma, Inc. (NYSE: WSM) by 1.7% during the fourth quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission. The fund held 248,481 shares after purchasing an additional 4,227 shares in the period. Advisors Capital Management LLC’s position was valued at $44,376,000, representing 0.21% of Williams-Sonoma as of the filing date.
Other large investors also adjusted their positions in Williams-Sonoma. True Wealth Design LLC increased its holdings by 111.8% in the third quarter, bringing its total to 144 shares valued at $28,000 after buying an additional 76 shares. Triumph Capital Management acquired a new position valued at $37,000 in the third quarter. Cary Street Partners Investment Advisory LLC raised its stake by 66.7% in the third quarter to 220 shares valued at $43,000, after adding 88 shares. Parkside Financial Bank & Trust increased its holdings by 57.2% in the third quarter to 228 shares valued at $45,000, after purchasing 83 additional shares. Root Financial Partners LLC also initiated a new position valued at $48,000 in the third quarter.
Overall, 99.29% of Williams-Sonoma’s stock is owned by hedge funds and other institutional investors.
In insider activity, CEO Laura Alber sold 15,000 shares on Friday, April 17. The shares were sold at an average price of $200.00, for total proceeds of $3,000,000.00. After the sale, Alber owned 958,524 shares, valued at approximately $191,704,800. The transaction represented a 1.54% decrease in her position and was executed under a pre-arranged Rule 10b5-1 trading plan.
CFO Jeffrey Howie sold 1,419 shares on Wednesday, April 8. The shares were sold at an average price of $188.45, for a total transaction value of $267,410.55. Following the sale, Howie owned 34,138 shares, valued at $6,433,306.10. This trade represented a 3.99% decrease in his position and was also executed under a pre-arranged Rule 10b5-1 trading plan.
In the last quarter, insiders sold 71,370 shares of company stock worth $13,268,623. Company insiders own 1.10% of Williams-Sonoma’s shares.
Several research firms issued updates to their views on Williams-Sonoma. Zelman & Associates upgraded the stock from “underperform” to “neutral” and set a $205.00 target price. Citigroup raised its target from $188.00 to $208.00 and maintained a “neutral” rating. UBS Group increased its target from $175.00 to $185.00, also keeping a “neutral” rating. TD Cowen lowered its target from $250.00 to $225.00 while keeping a “buy” rating. Weiss Ratings upgraded the stock from “hold (c+)” to “buy (b-)”.
Across ratings tracked by MarketBeat.com, one analyst rates the stock as Strong Buy, nine rate it Buy, and eight rate it Hold. The consensus rating is “Moderate Buy,” with an average price target of $209.56.
Williams-Sonoma shares opened at $190.28 on Friday. The company has a market capitalization of $22.65 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.43, and a beta of 1.58. The stock’s 50-day moving average is $192.02 and its 200-day moving average is $193.00. Over the past year, Williams-Sonoma has traded between a low of $147.39 and a high of $222.00.
Williams-Sonoma last reported quarterly earnings on Wednesday, March 18. The company posted earnings of $3.04 per share for the quarter, exceeding analysts’ consensus estimates of $2.90 by $0.14. Revenue was $2.36 billion, compared with analysts’ expectations of $2.41 billion. The company reported a net margin of 13.94% and a return on equity of 51.45%.
Quarterly revenue declined 4.3% year over year. In the prior-year quarter, Williams-Sonoma earned $3.28 EPS. Sell-side analysts expect the company to post 9.19 EPS for the current fiscal year.
Williams-Sonoma also announced a quarterly dividend payable on Friday, May 22. Stockholders of record as of Friday, April 17 will receive a dividend of $0.76 per share. This is an increase from the company’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, April 17. The dividend translates to $3.04 on an annualized basis and implies a dividend yield of 1.6%. The dividend payout ratio (DPR) is 29.83%.
Williams-Sonoma, Inc. is a specialty retailer focused on the home and culinary markets. The company is known for premium cookware, kitchen tools, and home furnishings. Founded in 1956 in Sonoma, California by Chuck Williams as a single cookware store, it has grown into a multi-brand home furnishings and housewares business. Its product range includes cookware and kitchen electrics, tabletop and food preparation items, furniture, bedding, lighting, and decorative accessories for both everyday use and higher-end interiors.
The company operates a portfolio of consumer brands designed to target distinct segments of the home market.
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