Williams-Sonoma Inc. (WSM) Posts Earnings Results, Beats Expectations By $0.01 EPS
Williams-Sonoma Inc. (NYSE:WSM) announced its quarterly earnings data on Thursday. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Williams-Sonoma had a return on equity of 26.86% and a net margin of 5.97%. The company had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Williams-Sonoma updated its Q4 guidance to $1.45-1.55 EPS.
Shares of Williams-Sonoma (NYSE:WSM) opened at 53.62 on Friday. The stock 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. The firm has a market cap of $4.75 billion, a PE ratio of 16.05 and a beta of 0.84.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Thursday, October 27th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. Williams-Sonoma’s payout ratio is 44.31%.
In related news, CEO Laura Alber sold 80,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $53.19, for a total transaction of $4,255,200.00. Following the completion of the transaction, the chief executive officer now directly owns 307,860 shares in the company, valued at $16,375,073.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Janet Hayes sold 15,027 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $49.74, for a total value of $747,442.98. Following the transaction, the insider now owns 32,776 shares of the company’s stock, valued at $1,630,278.24. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC boosted its position in Williams-Sonoma by 213.2% in the third quarter. BlackRock Advisors LLC now owns 1,440,275 shares of the company’s stock valued at $73,569,000 after buying an additional 980,370 shares during the last quarter. Fiera Capital Corp boosted its position in Williams-Sonoma by 2,173.7% in the second quarter. Fiera Capital Corp now owns 1,014,091 shares of the company’s stock valued at $52,865,000 after buying an additional 969,491 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Williams-Sonoma by 25.2% in the third quarter. Bank of New York Mellon Corp now owns 3,351,855 shares of the company’s stock valued at $171,213,000 after buying an additional 675,438 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Williams-Sonoma by 517.1% in the third quarter. Neuberger Berman Group LLC now owns 684,725 shares of the company’s stock valued at $34,976,000 after buying an additional 573,774 shares during the last quarter. Finally, HS Management Partners LLC boosted its position in Williams-Sonoma by 20.6% in the second quarter. HS Management Partners LLC now owns 3,112,376 shares of the company’s stock valued at $162,248,000 after buying an additional 531,800 shares during the last quarter. Institutional investors and hedge funds own 95.69% of the company’s stock.
WSM has been the topic of a number of analyst reports. Vetr cut Williams-Sonoma from a “strong-buy” rating to a “buy” rating and set a $56.74 price objective on the stock. in a research note on Tuesday, August 23rd. Nomura set a $75.00 price objective on Williams-Sonoma and gave the stock a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research cut Williams-Sonoma from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Williams-Sonoma in a report on Sunday, October 2nd. Finally, Barclays PLC reissued an “underweight” rating and set a $45.00 target price on shares of Williams-Sonoma in a report on Tuesday, August 23rd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.26.
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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