David Randolph King Sells 10,000 Shares of Williams-Sonoma, Inc. (NYSE:WSM) Stock

Williams-Sonoma, Inc. (NYSE:WSMGet Free Report) EVP David Randolph King sold 10,000 shares of Williams-Sonoma stock in a transaction on Friday, May 24th. The shares were sold at an average price of $287.85, for a total transaction of $2,878,500.00. Following the completion of the transaction, the executive vice president now owns 50,512 shares in the company, valued at approximately $14,539,879.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Williams-Sonoma Price Performance

Williams-Sonoma stock opened at $288.30 on Friday. Williams-Sonoma, Inc. has a 12-month low of $111.14 and a 12-month high of $348.51. The company has a market capitalization of $18.54 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.22 and a beta of 1.72. The firm’s fifty day moving average price is $299.13 and its 200 day moving average price is $242.02.

Williams-Sonoma (NYSE:WSMGet Free Report) last released its earnings results on Wednesday, March 13th. The specialty retailer reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.06 by $0.38. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.22 billion. Williams-Sonoma had a net margin of 13.83% and a return on equity of 54.50%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.50 EPS. Analysts forecast that Williams-Sonoma, Inc. will post 15.75 earnings per share for the current fiscal year.

Williams-Sonoma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, April 19th were given a $1.13 dividend. The ex-dividend date was Thursday, April 18th. This represents a $4.52 annualized dividend and a dividend yield of 1.57%. This is an increase from Williams-Sonoma’s previous quarterly dividend of $0.90. Williams-Sonoma’s payout ratio is presently 27.75%.

Institutional Investors Weigh In On Williams-Sonoma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Williams-Sonoma by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,456,161 shares of the specialty retailer’s stock worth $226,287,000 after purchasing an additional 18,004 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Williams-Sonoma by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 970,737 shares of the specialty retailer’s stock valued at $195,882,000 after buying an additional 23,918 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Williams-Sonoma by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 785,457 shares of the specialty retailer’s stock valued at $249,406,000 after buying an additional 18,358 shares during the period. Northern Trust Corp boosted its holdings in shares of Williams-Sonoma by 10.2% in the 4th quarter. Northern Trust Corp now owns 785,143 shares of the specialty retailer’s stock valued at $158,426,000 after buying an additional 72,843 shares during the period. Finally, Norges Bank acquired a new position in shares of Williams-Sonoma in the 4th quarter valued at about $152,843,000. Institutional investors own 99.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Williams-Sonoma from $295.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Williams-Sonoma in a research note on Thursday, May 23rd. Morgan Stanley raised their target price on shares of Williams-Sonoma from $270.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, May 23rd. Robert W. Baird raised their target price on shares of Williams-Sonoma from $200.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised shares of Williams-Sonoma from an “underweight” rating to a “neutral” rating and raised their target price for the company from $245.00 to $275.00 in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $259.94.

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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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