Wells Fargo & Company Cuts Williams-Sonoma (NYSE:WSM) Price Target to $120.00

Williams-Sonoma (NYSE:WSMGet Rating) had its price objective lowered by analysts at Wells Fargo & Company from $170.00 to $120.00 in a note issued to investors on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s target price points to a potential downside of 1.94% from the stock’s current price.

Other analysts also recently issued research reports about the stock. UBS Group reaffirmed a “sell” rating and set a $110.00 price target on shares of Williams-Sonoma in a report on Friday, September 23rd. Royal Bank of Canada dropped their price objective on shares of Williams-Sonoma from $192.00 to $151.00 and set an “outperform” rating on the stock in a report on Friday. Barclays raised their price objective on shares of Williams-Sonoma from $173.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, August 25th. JPMorgan Chase & Co. dropped their price objective on shares of Williams-Sonoma from $143.00 to $131.00 in a report on Friday, November 11th. Finally, Citigroup dropped their price objective on shares of Williams-Sonoma from $156.00 to $135.00 in a report on Monday, October 31st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Williams-Sonoma currently has an average rating of “Hold” and a consensus target price of $145.78.

Williams-Sonoma Stock Down 6.2 %

Shares of NYSE WSM opened at $122.37 on Friday. The firm’s 50-day moving average price is $125.56 and its 200-day moving average price is $131.33. The company has a market cap of $8.16 billion, a PE ratio of 7.42, a PEG ratio of 0.73 and a beta of 1.61. Williams-Sonoma has a 52-week low of $101.58 and a 52-week high of $223.32.

Williams-Sonoma (NYSE:WSMGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The specialty retailer reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.33. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.03 billion. Williams-Sonoma had a net margin of 13.48% and a return on equity of 83.01%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.24 EPS. As a group, equities research analysts anticipate that Williams-Sonoma will post 16.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Laura Alber sold 20,000 shares of Williams-Sonoma stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $150.43, for a total transaction of $3,008,600.00. Following the sale, the chief executive officer now owns 501,653 shares in the company, valued at $75,463,660.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Williams-Sonoma

Several large investors have recently bought and sold shares of WSM. FMR LLC increased its position in Williams-Sonoma by 17.6% in the second quarter. FMR LLC now owns 7,104,812 shares of the specialty retailer’s stock worth $788,279,000 after purchasing an additional 1,064,242 shares during the last quarter. HS Management Partners LLC increased its position in Williams-Sonoma by 61.6% in the first quarter. HS Management Partners LLC now owns 1,655,704 shares of the specialty retailer’s stock worth $240,077,000 after purchasing an additional 630,830 shares during the last quarter. Bank of America Corp DE increased its position in Williams-Sonoma by 151.9% in the first quarter. Bank of America Corp DE now owns 488,538 shares of the specialty retailer’s stock worth $70,839,000 after purchasing an additional 294,602 shares during the last quarter. First Trust Advisors LP increased its position in Williams-Sonoma by 24.1% in the first quarter. First Trust Advisors LP now owns 1,408,911 shares of the specialty retailer’s stock worth $204,292,000 after purchasing an additional 273,424 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Williams-Sonoma in the second quarter worth $19,117,000. Institutional investors own 93.74% of the company’s stock.

About Williams-Sonoma

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Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.

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