Williams-Sonoma (NYSE:WSM) Shares Gap Down – Here’s What Happened

Williams-Sonoma, Inc. (NYSE:WSM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $172.28, but opened at $157.80. Williams-Sonoma shares last traded at $154.22, with a volume of 1,143,900 shares trading hands.

Analyst Ratings Changes

Several research firms have recently commented on WSM. TD Cowen upped their target price on Williams-Sonoma from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Morgan Stanley reduced their price target on Williams-Sonoma from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Thursday. Jefferies Financial Group reduced their price target on Williams-Sonoma from $226.00 to $208.00 and set a “buy” rating on the stock in a research report on Thursday. Wedbush reduced their price target on Williams-Sonoma from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Loop Capital increased their price target on Williams-Sonoma from $145.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $176.13.

Williams-Sonoma Trading Down 0.6 %

The company has a market capitalization of $20.35 billion, a P/E ratio of 19.55, a PEG ratio of 2.89 and a beta of 1.82. The stock has a 50 day moving average price of $197.81 and a 200 day moving average price of $171.83.

Williams-Sonoma (NYSE:WSM) last announced its earnings results on Wednesday, March 19th. The specialty retailer reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.40. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.34 billion. Williams-Sonoma had a return on equity of 51.56% and a net margin of 14.54%. Williams-Sonoma’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $5.44 EPS. On average, research analysts predict that Williams-Sonoma, Inc. will post 8.36 EPS for the current year.

Williams-Sonoma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 24th. Investors of record on Thursday, April 17th will be given a dividend of $0.66 per share. This is a positive change from Williams-Sonoma’s previous quarterly dividend of $0.57. This represents a $2.64 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, April 17th. Williams-Sonoma’s dividend payout ratio (DPR) is currently 26.98%.

Insider Buying and Selling

In related news, CFO Jeffrey Howie sold 1,408 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $194.32, for a total transaction of $273,602.56. Following the completion of the transaction, the chief financial officer now directly owns 46,388 shares of the company’s stock, valued at $9,014,116.16. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laura Alber sold 45,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $207.76, for a total value of $9,349,200.00. Following the sale, the chief executive officer now owns 944,666 shares of the company’s stock, valued at approximately $196,263,808.16. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Williams-Sonoma

A number of large investors have recently bought and sold shares of the business. 111 Capital acquired a new stake in Williams-Sonoma during the 4th quarter worth about $557,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Williams-Sonoma by 111.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 54,745 shares of the specialty retailer’s stock valued at $10,138,000 after buying an additional 28,880 shares during the period. PKO Investment Management Joint Stock Co acquired a new stake in shares of Williams-Sonoma in the 4th quarter valued at about $1,111,000. Siemens Fonds Invest GmbH grew its stake in shares of Williams-Sonoma by 6.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 1,396 shares of the specialty retailer’s stock valued at $260,000 after buying an additional 84 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in shares of Williams-Sonoma in the 4th quarter valued at about $86,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Williams-Sonoma

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.