Williams-Sonoma (NYSE:WSM) Reaches New 1-Year High Following Dividend Announcement

Williams-Sonoma, Inc. (NYSE:WSM) shares hit a new 52-week high on Friday after the company announced a dividend. The company traded as high as $222.50 and last traded at $221.1040, with a volume of 131013 shares changing hands. The stock had previously closed at $218.74.

The newly announced dividend which will be paid on Friday, August 21st. Investors of record on Friday, July 17th will be paid a $0.76 dividend. The ex-dividend date is Friday, July 17th. This represents a $3.04 annualized dividend and a dividend yield of 1.4%. Williams-Sonoma’s dividend payout ratio (DPR) is 29.56%.

Analysts Set New Price Targets

A number of research firms recently commented on WSM. Royal Bank Of Canada set a $192.00 price objective on shares of Williams-Sonoma and gave the stock an “outperform” rating in a report on Friday, May 22nd. 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 research report on Tuesday, May 12th. Argus set a $230.00 price target on Williams-Sonoma in a report on Friday, May 29th. Wells Fargo & Company set a $190.00 price objective on Williams-Sonoma and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, Barclays set a $190.00 price objective on Williams-Sonoma and gave the stock an “equal weight” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.47.

Williams-Sonoma Stock Performance

The company’s fifty day moving average price is $190.93 and its two-hundred day moving average price is $193.50. The firm has a market capitalization of $26.10 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.51.

Williams-Sonoma (NYSE:WSM) last announced its quarterly earnings results on Thursday, May 21st. The specialty retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.13. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Williams-Sonoma had a net margin of 13.81% and a return on equity of 53.29%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. On average, equities analysts expect that Williams-Sonoma, Inc. will post 9.34 earnings per share for the current year.

Insiders Place Their Bets

In other Williams-Sonoma news, CFO Jeffrey Howie sold 1,419 shares of Williams-Sonoma stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $188.45, for a total transaction of $267,410.55. Following the sale, the chief financial officer owned 34,138 shares of the company’s stock, valued at $6,433,306.10. The trade was a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Karalyn Yearout sold 522 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $203.07, for a total transaction of $106,002.54. Following the completion of the sale, the executive vice president directly owned 22,829 shares of the company’s stock, valued at approximately $4,635,885.03. This represents a 2.24% 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 three months, insiders have sold 106,892 shares of company stock valued at $19,826,826. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WSM. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Williams-Sonoma by 5,019.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 89,388 shares of the specialty retailer’s stock valued at $15,964,000 after buying an additional 87,642 shares during the last quarter. Nordea Investment Management AB raised its position in Williams-Sonoma by 10.2% during the fourth quarter. Nordea Investment Management AB now owns 972,810 shares of the specialty retailer’s stock valued at $174,473,000 after acquiring an additional 89,779 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Williams-Sonoma in the third quarter valued at approximately $4,605,000. First Trust Advisors LP lifted its stake in Williams-Sonoma by 30.7% in the third quarter. First Trust Advisors LP now owns 2,269,461 shares of the specialty retailer’s stock valued at $443,566,000 after acquiring an additional 532,995 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Williams-Sonoma by 23.8% in the fourth quarter. BNP Paribas Financial Markets now owns 294,598 shares of the specialty retailer’s stock worth $52,612,000 after acquiring an additional 56,578 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors and hedge funds.

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.