Palumbo Wealth Management LLC Invests $4.61 Million in Williams-Sonoma, Inc. $WSM

Palumbo Wealth Management LLC purchased a new position in Williams-Sonoma, Inc. (NYSE:WSM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,603 shares of the specialty retailer’s stock, valued at approximately $4,608,000. Williams-Sonoma accounts for about 1.2% of Palumbo Wealth Management LLC’s holdings, making the stock its 23rd largest holding.

Several other large investors also recently added to or reduced their stakes in WSM. Norges Bank bought a new position in Williams-Sonoma in the 2nd quarter worth about $212,107,000. Voya Investment Management LLC boosted its holdings in shares of Williams-Sonoma by 184.3% in the third quarter. Voya Investment Management LLC now owns 861,236 shares of the specialty retailer’s stock valued at $167,927,000 after purchasing an additional 558,311 shares during the period. Invesco Ltd. grew its stake in Williams-Sonoma by 30.6% in the second quarter. Invesco Ltd. now owns 1,741,639 shares of the specialty retailer’s stock worth $284,532,000 after purchasing an additional 407,929 shares in the last quarter. First Trust Advisors LP grew its stake in Williams-Sonoma by 30.0% in the second quarter. First Trust Advisors LP now owns 1,736,466 shares of the specialty retailer’s stock worth $283,686,000 after purchasing an additional 401,138 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Williams-Sonoma by 44.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,256,734 shares of the specialty retailer’s stock worth $205,317,000 after purchasing an additional 389,548 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Price Performance

WSM opened at $202.21 on Tuesday. The firm has a market capitalization of $24.14 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 3.22 and a beta of 1.64. The business’s 50-day moving average is $202.50 and its two-hundred day moving average is $195.78. Williams-Sonoma, Inc. has a 1 year low of $130.07 and a 1 year high of $222.00.

Williams-Sonoma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, January 16th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $2.64 dividend on an annualized basis and a yield of 1.3%. Williams-Sonoma’s dividend payout ratio is presently 29.04%.

Analyst Ratings Changes

Several brokerages have weighed in on WSM. Royal Bank Of Canada set a $206.00 target price on Williams-Sonoma and gave the stock an “outperform” rating in a report on Friday, November 21st. UBS Group set a $175.00 price target on Williams-Sonoma and gave the company a “neutral” rating in a research note on Thursday, November 20th. Zelman & Associates upgraded Williams-Sonoma from an “underperform” rating to a “neutral” rating and set a $205.00 price objective for the company in a report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating and issued a $245.00 price objective (up from $210.00) on shares of Williams-Sonoma in a research note on Tuesday, January 20th. Finally, Citigroup dropped their target price on shares of Williams-Sonoma from $202.00 to $188.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Williams-Sonoma has a consensus rating of “Moderate Buy” and an average price target of $202.11.

Insider Activity at Williams-Sonoma

In other news, EVP Karalyn Yearout sold 767 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $205.16, for a total value of $157,357.72. Following the completion of the sale, the executive vice president owned 13,236 shares of the company’s stock, valued at $2,715,497.76. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laura Alber sold 35,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $207.39, for a total value of $7,258,650.00. Following the transaction, the chief executive officer owned 806,537 shares in the company, valued at approximately $167,267,708.43. This trade represents a 4.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 47,928 shares of company stock valued at $9,618,000. 1.10% of the stock is owned by insiders.

About Williams-Sonoma

Williams?Sonoma, Inc is a specialty retailer focused on the home and culinary markets, best known for premium cookware, kitchen tools and home furnishings. The company traces its roots to a single cookware store founded by Chuck Williams in 1956 in Sonoma, California, and has evolved into a multi?brand home furnishings and housewares business. Its merchandise mix spans cookware and kitchen electrics, tabletop and food prep items, furniture, bedding, lighting and decorative accessories designed for both everyday use and higher?end interiors.

The company operates a portfolio of consumer brands that target distinct segments of the home market.