Williams-Sonoma (NYSE:WSM) Stock Price Target Raised at Citigroup

Williams-Sonoma (NYSE:WSM) had its price objective raised by Citigroup from $252.00 to $275.00 in a report issued on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the specialty retailer’s stock.

WSM has been the topic of several other reports. Bank of America reiterated a “buy” rating and set a $261.00 target price (up from $250.00) on shares of Williams-Sonoma in a report on Monday, August 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $261.00 target price (up from $230.00) on shares of Williams-Sonoma in a research note on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of Williams-Sonoma from $190.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Seaport Research Partners restated a “buy” rating on shares of Williams-Sonoma in a research note on Friday, August 14th. Finally, KeyCorp reissued an “overweight” rating and issued a $270.00 price objective (up from $250.00) on shares of Williams-Sonoma in a research note on Thursday, August 27th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Williams-Sonoma has an average rating of “Moderate Buy” and a consensus price target of $249.17.

Williams-Sonoma Stock Performance

NYSE WSM traded down $4.71 during trading hours on Friday, reaching $253.90. The company’s stock had a trading volume of 775,641 shares, compared to its average volume of 1,096,296. The company’s 50-day moving average is $238.58 and its two-hundred day moving average is $216.02. The stock has a market cap of $29.90 billion, a PE ratio of 25.99, a PEG ratio of 2.81 and a beta of 1.49. Williams-Sonoma has a fifty-two week low of $165.51 and a fifty-two week high of $274.45.

Williams-Sonoma (NYSE:WSM) last posted its quarterly earnings data on Wednesday, August 26th. The specialty retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.93 billion. Williams-Sonoma had a return on equity of 53.48% and a net margin of 14.73%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 earnings per share. Equities analysts expect that Williams-Sonoma will post 9.50 earnings per share for the current fiscal year.

Williams-Sonoma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, October 16th. Williams-Sonoma’s payout ratio is currently 31.12%.

Insider Buying and Selling at Williams-Sonoma

In other Williams-Sonoma news, EVP Karalyn Yearout sold 522 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $239.36, for a total transaction of $124,945.92. Following the transaction, the executive vice president directly owned 19,673 shares of the company’s stock, valued at $4,708,929.28. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 3,045 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $220.61, for a total transaction of $671,757.45. Following the completion of the transaction, the chief financial officer owned 34,138 shares in the company, valued at $7,531,184.18. The trade was a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,361 shares of company stock valued at $8,738,903. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Williams-Sonoma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Williams-Sonoma in the 2nd quarter worth approximately $2,656,062,000. Aristotle Capital Management LLC grew its stake in shares of Williams-Sonoma by 22.0% during the first quarter. Aristotle Capital Management LLC now owns 11,140,471 shares of the specialty retailer’s stock worth $2,031,242,000 after purchasing an additional 2,009,032 shares during the period. State Street Corp boosted its position in shares of Williams-Sonoma by 1.9% during the second quarter. State Street Corp now owns 5,906,785 shares of the specialty retailer’s stock worth $1,376,872,000 after purchasing an additional 112,683 shares in the last quarter. First Trust Advisors LP increased its holdings in Williams-Sonoma by 9.2% during the 1st quarter. First Trust Advisors LP now owns 2,664,580 shares of the specialty retailer’s stock worth $485,833,000 after purchasing an additional 224,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Williams-Sonoma by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,479,064 shares of the specialty retailer’s stock worth $269,640,000 after acquiring an additional 20,886 shares in the last quarter. 99.29% of the stock is owned by institutional investors.

Williams-Sonoma Company Profile

Williams-Sonoma, Inc is a specialty retailer focused on home furnishings, kitchenware and related products. Its portfolio includes Williams Sonoma, Pottery Barn, Pottery Barn Kids and Teen, West Elm, Rejuvenation, and Mark and Graham, with offerings ranging from cookware and furniture to lighting, textiles, décor and gifts.

Founded in 1956 by Chuck Williams as a cookware shop in Sonoma, California, the company has grown into a multichannel retailer. It sells through its websites and retail stores, serving customers in North America and select international markets.

Laura Alber is the company’s chief executive officer.