Williams-Sonoma (NYSE:WSM) Upgraded by The Goldman Sachs Group to Buy Rating

The Goldman Sachs Group upgraded shares of Williams-Sonoma (NYSE:WSM) from a neutral rating to a buy rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $218.00 price target on the specialty retailer’s stock, up from their previous price target of $185.00.

A number of other research firms also recently issued reports on WSM. UBS Group boosted their target price on shares of Williams-Sonoma from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, March 11th. Telsey Advisory Group restated an “outperform” rating and set a $220.00 price objective on shares of Williams-Sonoma in a report on Thursday, March 12th. Robert W. Baird lowered their price objective on shares of Williams-Sonoma from $235.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Zelman & Associates upgraded shares of Williams-Sonoma from an “underperform” rating to a “neutral” rating and set a $205.00 price objective on the stock in a report on Thursday, January 29th. Finally, Barclays upped their price objective on shares of Williams-Sonoma from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Williams-Sonoma presently has an average rating of “Moderate Buy” and a consensus target price of $210.50.

Williams-Sonoma Stock Up 2.2%

Williams-Sonoma stock opened at $193.31 on Monday. Williams-Sonoma has a 12-month low of $134.44 and a 12-month high of $222.00. The firm’s fifty day moving average is $195.47 and its 200 day moving average is $192.97. The company has a market capitalization of $23.01 billion, a PE ratio of 21.84, a PEG ratio of 2.39 and a beta of 1.58.

Williams-Sonoma (NYSE:WSM) last released its earnings results on Wednesday, March 18th. The specialty retailer reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.14. Williams-Sonoma had a net margin of 13.94% and a return on equity of 51.45%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company earned $3.28 EPS. Williams-Sonoma’s quarterly revenue was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Williams-Sonoma will post 8.36 EPS for the current fiscal year.

Williams-Sonoma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 17th will be issued a $0.76 dividend. This is a boost from Williams-Sonoma’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, April 17th. Williams-Sonoma’s dividend payout ratio is currently 29.83%.

Insider Activity

In other news, EVP Karalyn Yearout sold 2,267 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $192.49, for a total value of $436,374.83. Following the completion of the transaction, the executive vice president directly owned 23,351 shares of the company’s stock, valued at $4,494,833.99. This represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey Howie sold 32,684 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $180.64, for a total value of $5,904,037.76. Following the completion of the transaction, the chief financial officer directly owned 34,138 shares of the company’s stock, valued at approximately $6,166,688.32. This represents a 48.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 92,137 shares of company stock valued at $17,684,631 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Williams-Sonoma

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Williams-Sonoma during the fourth quarter worth about $25,000. Atlantic Union Bankshares Corp increased its holdings in Williams-Sonoma by 51.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 147 shares of the specialty retailer’s stock worth $26,000 after buying an additional 50 shares during the last quarter. True Wealth Design LLC increased its holdings in Williams-Sonoma by 111.8% during the third quarter. True Wealth Design LLC now owns 144 shares of the specialty retailer’s stock worth $28,000 after buying an additional 76 shares during the last quarter. MidFirst Bank purchased a new stake in Williams-Sonoma during the fourth quarter worth about $30,000. Finally, DV Equities LLC purchased a new stake in Williams-Sonoma during the fourth quarter worth about $31,000. 99.29% of the stock is owned by institutional investors.

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.