Principal Financial Group Inc. Trims Stock Position in Williams-Sonoma, Inc. $WSM

Principal Financial Group Inc. lessened its stake in shares of Williams-Sonoma, Inc. (NYSE:WSM) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 988,254 shares of the specialty retailer’s stock after selling 26,389 shares during the period. Principal Financial Group Inc.’s holdings in Williams-Sonoma were worth $180,189,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Williams-Sonoma in the fourth quarter worth approximately $316,920,000. Boston Partners bought a new stake in Williams-Sonoma during the 3rd quarter valued at $254,778,000. Victory Capital Management Inc. raised its position in Williams-Sonoma by 86.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,117,119 shares of the specialty retailer’s stock valued at $199,506,000 after purchasing an additional 516,593 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Williams-Sonoma by 4,142.7% in the 3rd quarter. Wellington Management Group LLP now owns 478,072 shares of the specialty retailer’s stock worth $93,439,000 after buying an additional 466,804 shares during the period. Finally, Man Group plc lifted its holdings in shares of Williams-Sonoma by 623.0% in the 2nd quarter. Man Group plc now owns 394,310 shares of the specialty retailer’s stock worth $64,418,000 after buying an additional 339,771 shares during the period. Hedge funds and other institutional investors own 99.29% of the company’s stock.

Insider Transactions at Williams-Sonoma

In other news, CEO Laura Alber sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $172.61, for a total value of $3,452,200.00. Following the sale, the chief executive officer directly owned 938,524 shares in the company, valued at approximately $161,998,627.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 1,112 shares of Williams-Sonoma stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $228.49, for a total transaction of $254,080.88. Following the completion of the transaction, the executive vice president directly owned 21,717 shares in the company, valued at approximately $4,962,117.33. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 51,634 shares of company stock valued at $9,812,283 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Williams-Sonoma Trading Up 1.8%

Shares of NYSE WSM opened at $220.63 on Wednesday. Williams-Sonoma, Inc. has a 12-month low of $161.76 and a 12-month high of $244.65. The stock’s fifty day simple moving average is $208.30 and its two-hundred day simple moving average is $200.53. The stock has a market capitalization of $25.98 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.37 and a beta of 1.49.

Williams-Sonoma (NYSE:WSM) last released its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.80 by $0.13. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Williams-Sonoma had a return on equity of 53.29% and a net margin of 13.81%.The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. On average, equities analysts predict that Williams-Sonoma, Inc. will post 9.39 earnings per share for the current fiscal year.

Williams-Sonoma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 17th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, July 17th. Williams-Sonoma’s payout ratio is 22.17%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WSM shares. Argus set a $230.00 price target on Williams-Sonoma in a research note on Friday, May 29th. Morgan Stanley set a $210.00 price objective on shares of Williams-Sonoma and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Weiss Ratings cut shares of Williams-Sonoma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Bank of America began coverage on shares of Williams-Sonoma in a research report on Friday, June 12th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Williams-Sonoma from $208.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Williams-Sonoma currently has an average rating of “Moderate Buy” and a consensus target price of $212.65.

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.