First Citizens Bank & Trust Co. Buys New Stake in Williams-Sonoma, Inc. (WSM)
First Citizens Bank & Trust Co. purchased a new stake in shares of Williams-Sonoma, Inc. (NYSE:WSM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,613 shares of the specialty retailer’s stock, valued at approximately $466,000.
Several other hedge funds have also bought and sold shares of the stock. Guggenheim Capital LLC boosted its stake in Williams-Sonoma by 72.8% in the fourth quarter. Guggenheim Capital LLC now owns 45,368 shares of the specialty retailer’s stock valued at $2,195,000 after buying an additional 19,109 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Williams-Sonoma by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,040 shares of the specialty retailer’s stock valued at $679,000 after buying an additional 1,190 shares in the last quarter. Teachers Advisors LLC boosted its stake in Williams-Sonoma by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 87,069 shares of the specialty retailer’s stock valued at $4,213,000 after buying an additional 13,160 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Williams-Sonoma during the fourth quarter valued at approximately $1,603,000. Finally, Creative Planning boosted its stake in Williams-Sonoma by 3.8% in the first quarter. Creative Planning now owns 2,085 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 76 shares in the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.
Shares of Williams-Sonoma, Inc. (NYSE WSM) traded up 3.12% during midday trading on Monday, hitting $47.21. The stock had a trading volume of 1,857,601 shares. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 13.75 and a beta of 0.89. Williams-Sonoma, Inc. has a 12-month low of $43.96 and a 12-month high of $57.40. The company’s 50-day moving average price is $46.82 and its 200-day moving average price is $49.33.
Williams-Sonoma (NYSE:WSM) last released its earnings results on Wednesday, May 24th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Williams-Sonoma had a return on equity of 25.51% and a net margin of 5.99%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities research analysts forecast that Williams-Sonoma, Inc. will post $3.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, July 21st will be issued a $0.39 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.30%. Williams-Sonoma’s payout ratio is currently 45.35%.
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WSM has been the subject of several recent analyst reports. Gordon Haskett started coverage on Williams-Sonoma in a report on Tuesday, May 9th. They issued an “accumulate” rating and a $61.00 price target for the company. ValuEngine raised Williams-Sonoma from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Credit Suisse Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of Williams-Sonoma in a report on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $54.00 price objective on shares of Williams-Sonoma in a report on Thursday, May 25th. Finally, Telsey Advisory Group lifted their price objective on Williams-Sonoma from $51.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.82.
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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