Williams-Sonoma (NYSE:WSM) Issues Earnings Results

Williams-Sonoma (NYSE:WSM) posted its quarterly earnings data on Thursday. The specialty retailer reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.32, reports. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.95 billion. Williams-Sonoma had a return on equity of 61.68% and a net margin of 11.99%. Williams-Sonoma updated its FY 2023 guidance to EPS.

Williams-Sonoma Stock Performance

NYSE:WSM opened at $178.81 on Friday. The company’s 50-day simple moving average is $152.98 and its 200-day simple moving average is $136.35. Williams-Sonoma has a fifty-two week low of $109.44 and a fifty-two week high of $181.46. The stock has a market capitalization of $11.84 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.23 and a beta of 1.55.

Williams-Sonoma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, October 20th will be issued a $0.90 dividend. The ex-dividend date is Thursday, October 19th. This represents a $3.60 dividend on an annualized basis and a yield of 2.01%. Williams-Sonoma’s dividend payout ratio is presently 24.98%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Williams-Sonoma from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $116.00 to $144.00 in a research report on Tuesday, October 31st. Morgan Stanley raised their price objective on shares of Williams-Sonoma from $125.00 to $155.00 and gave the stock an “underweight” rating in a research note on Friday. Bank of America upped their target price on Williams-Sonoma from $146.00 to $167.00 in a research note on Thursday, October 5th. Royal Bank of Canada raised their price target on Williams-Sonoma from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Williams-Sonoma in a research report on Monday, November 13th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $153.28.

Insider Activity at Williams-Sonoma

In other Williams-Sonoma news, CEO Laura Alber sold 18,189 shares of Williams-Sonoma stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $154.92, for a total value of $2,817,839.88. Following the transaction, the chief executive officer now directly owns 545,509 shares of the company’s stock, valued at $84,510,254.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marta Benson sold 10,000 shares of Williams-Sonoma stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $140.68, for a total value of $1,406,800.00. Following the completion of the sale, the chief executive officer now directly owns 54,238 shares in the company, valued at approximately $7,630,201.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Alber sold 18,189 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $154.92, for a total transaction of $2,817,839.88. Following the transaction, the chief executive officer now owns 545,509 shares in the company, valued at approximately $84,510,254.28. The disclosure for this sale can be found here. Insiders sold 130,000 shares of company stock valued at $19,496,290 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Williams-Sonoma

A number of large investors have recently made changes to their positions in WSM. Charles Schwab Investment Management Inc. grew its stake in Williams-Sonoma by 235.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,384,403 shares of the specialty retailer’s stock valued at $168,426,000 after purchasing an additional 971,370 shares during the last quarter. Norges Bank acquired a new position in Williams-Sonoma in the 4th quarter worth approximately $55,499,000. Holocene Advisors LP purchased a new position in Williams-Sonoma during the 2nd quarter worth approximately $56,497,000. Steadfast Capital Management LP acquired a new stake in Williams-Sonoma during the 1st quarter valued at approximately $50,715,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Williams-Sonoma by 320.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 426,300 shares of the specialty retailer’s stock valued at $12,022,000 after acquiring an additional 324,941 shares during the last quarter. 99.76% of the stock is owned by hedge funds and other institutional investors.

Williams-Sonoma Company Profile

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.