Williams-Sonoma Inc. (WSM) Shares Gap Down Following Analyst Downgrade
Shares of Williams-Sonoma Inc. (NYSE:WSM) gapped down before the market opened on Friday after Telsey Advisory Group lowered their price target on the stock from $63.00 to $61.00. The stock had previously closed at $56.43, but opened at $53.62. Telsey Advisory Group currently has an outperform rating on the stock. Williams-Sonoma shares last traded at $52.94, with a volume of 5,239,013 shares changing hands.
Other analysts also recently issued reports about the company. Nomura reissued a “buy” rating and issued a $75.00 target price on shares of Williams-Sonoma in a research report on Thursday, August 25th. Zacks Investment Research raised Williams-Sonoma from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, August 10th. Vetr lowered Williams-Sonoma from a “strong-buy” rating to a “buy” rating and set a $56.74 price target for the company. in a report on Tuesday, August 23rd. Citigroup Inc. cut their price target on Williams-Sonoma from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 25th. Finally, Argus reaffirmed a “buy” rating and issued a $75.00 price target on shares of Williams-Sonoma in a report on Monday, August 29th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Williams-Sonoma presently has a consensus rating of “Hold” and a consensus target price of $58.96.
In other Williams-Sonoma news, insider Janet Hayes sold 15,027 shares of Williams-Sonoma stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $49.74, for a total transaction of $747,442.98. Following the sale, the insider now directly owns 32,776 shares of the company’s stock, valued at approximately $1,630,278.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laura Alber sold 80,000 shares of Williams-Sonoma stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $53.19, for a total value of $4,255,200.00. Following the sale, the chief executive officer now directly owns 307,860 shares in the company, valued at $16,375,073.40. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake 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 in the last quarter. Advisory Services Network LLC boosted its stake 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 in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Williams-Sonoma by 58.1% in the third quarter. D.A. Davidson & CO. now owns 2,286 shares of the company’s stock worth $115,000 after buying an additional 840 shares in the last quarter. NEXT Financial Group Inc boosted its stake 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 in the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Williams-Sonoma during the second quarter worth approximately $157,000. 95.69% of the stock is currently owned by hedge funds and other institutional investors.
The company has a market cap of $4.69 billion, a PE ratio of 15.85 and a beta of 0.84. The company has a 50 day moving average price of $48.84 and a 200 day moving average price of $51.72.
Williams-Sonoma (NYSE:WSM) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Williams-Sonoma had a net margin of 5.97% and a return on equity of 26.86%. The firm earned $1.25 million during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Williams-Sonoma Inc. will post $3.46 earnings per share for the current year.
The company 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 $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, October 25th. Williams-Sonoma’s dividend payout ratio (DPR) is currently 44.31%.
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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