Williams-Sonoma Inc. (WSM) Cut to Neutral at Robert W. Baird
Robert W. Baird lowered shares of Williams-Sonoma Inc. (NYSE:WSM) from an outperform rating to a neutral rating in a research note released on Monday. They currently have $52.00 price objective on the stock, down from their prior price objective of $61.00.
Several other equities analysts have also recently weighed in on WSM. Wedbush reaffirmed a neutral rating and issued a $53.00 price target on shares of Williams-Sonoma in a research report on Thursday, August 25th. Piper Jaffray Cos. reiterated a neutral rating and issued a $56.00 price objective (down previously from $60.00) on shares of Williams-Sonoma in a research note on Friday, August 26th. Nomura reiterated a buy rating and issued a $75.00 price objective on shares of Williams-Sonoma in a research note on Thursday, August 25th. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $65.00 price objective on shares of Williams-Sonoma in a research note on Thursday, August 25th. Finally, Credit Suisse Group AG assumed coverage on shares of Williams-Sonoma in a research note on Thursday, August 25th. They issued a neutral rating and a $50.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $59.26.
Shares of Williams-Sonoma (NYSE:WSM) opened at 51.91 on Monday. The company has a market capitalization of $4.60 billion, a PE ratio of 15.54 and a beta of 0.84. The company has a 50 day moving average price of $48.75 and a 200 day moving average price of $51.71. Williams-Sonoma has a 52 week low of $45.96 and a 52 week high of $67.04.
Williams-Sonoma (NYSE:WSM) last announced its quarterly earnings results on Wednesday, August 24th. The company reported $0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. Williams-Sonoma had a net margin of 5.97% and a return on equity of 26.86%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Williams-Sonoma will post $3.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Thursday, October 27th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $1.48 dividend on an annualized basis and a yield of 2.85%. Williams-Sonoma’s dividend payout ratio (DPR) is 44.31%.
In related news, insider Janet Hayes sold 15,027 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $49.74, for a total transaction of $747,442.98. Following the transaction, the insider now owns 32,776 shares in the company, valued at $1,630,278.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Laura Alber sold 80,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $53.19, for a total transaction of $4,255,200.00. Following the transaction, the chief executive officer now owns 307,860 shares in the company, valued at approximately $16,375,073.40. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in shares of Williams-Sonoma by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock worth $104,000 after buying an additional 1,000 shares during the period. Advisory Services Network LLC increased its position in shares of Williams-Sonoma by 12.7% in the third quarter. Advisory Services Network LLC now owns 2,091 shares of the company’s stock worth $107,000 after buying an additional 236 shares during the period. NEXT Financial Group Inc increased its position in shares of Williams-Sonoma by 63.2% in the second quarter. NEXT Financial Group Inc now owns 2,840 shares of the company’s stock worth $148,000 after buying an additional 1,100 shares during the period. Toronto Dominion Bank bought a new position in shares of Williams-Sonoma during the second quarter worth $157,000. Finally, HL Financial Services LLC bought a new position in shares of Williams-Sonoma during the second quarter worth $205,000. Institutional investors own 95.69% of the company’s stock.
Williams-Sonoma Company Profile
Williams-Sonoma, Inc is a multi-channel specialty retailer of products for the home. The Company operates retail stores in the United States, Canada, Puerto Rico, Australia and the United Kingdom. It operates through two segments: e-commerce and retail. The e-commerce segment has various merchandising strategies, such as Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams-Sonoma Home, Rejuvenation and Mark and Graham, which sell its products through the Company’s e-commerce Websites and direct-mail catalogs.
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