Maverick Capital Ltd. trimmed its holdings in Williams-Sonoma, Inc. (NYSE:WSM) by 65.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 106,131 shares of the specialty retailer’s stock after selling 199,376 shares during the quarter. Maverick Capital Ltd.’s holdings in Williams-Sonoma were worth $4,513,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arden Trust Co bought a new stake in Williams-Sonoma in the 1st quarter worth about $32,000. Nvwm LLC bought a new stake in Williams-Sonoma in the 1st quarter worth about $37,000. Marshall Wace North America L.P. bought a new stake in Williams-Sonoma in the 1st quarter worth about $56,000. Northwestern Mutual Wealth Management Co. increased its holdings in Williams-Sonoma by 74.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,504 shares of the specialty retailer’s stock worth $64,000 after buying an additional 644 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC increased its holdings in Williams-Sonoma by 23.1% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 1,600 shares of the specialty retailer’s stock worth $68,000 after buying an additional 300 shares in the last quarter. Institutional investors own 99.00% of the company’s stock.
WSM has been the topic of several research reports. Telsey Advisory Group raised Williams-Sonoma from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $80.00 in a research report on Tuesday, May 26th. ValuEngine cut Williams-Sonoma from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Royal Bank of Canada raised their target price on Williams-Sonoma from $70.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. Wedbush raised their target price on Williams-Sonoma from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, William Blair reissued a “market perform” rating on shares of Williams-Sonoma in a research report on Tuesday, April 7th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $74.89.
Williams-Sonoma (NYSE:WSM) last posted its quarterly earnings results on Thursday, May 28th. The specialty retailer reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.70. Williams-Sonoma had a return on equity of 31.92% and a net margin of 5.75%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm earned $0.81 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Williams-Sonoma, Inc. will post 4.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, July 24th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, July 23rd. Williams-Sonoma’s payout ratio is 39.67%.
In other news, CEO Laura Alber sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $84.17, for a total transaction of $1,262,550.00. Following the transaction, the chief executive officer now owns 517,602 shares of the company’s stock, valued at approximately $43,566,560.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Randolph King sold 29,555 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $82.55, for a total value of $2,439,765.25. Following the transaction, the executive vice president now directly owns 42,671 shares in the company, valued at approximately $3,522,491.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,919 shares of company stock worth $9,523,322. Corporate insiders own 1.50% of the company’s stock.
Williams-Sonoma Company Profile
Williams-Sonoma, Inc operates as a multi-channel specialty retailer of various products for home. It operates through two segments, E-commerce and Retail. The company offers cooking, dining, and entertaining products, including cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma brand, as well as home furnishings and decorative accessories under the Williams Sonoma Home brand; and furniture, bedding, bathroom accessories, rugs, curtains, lighting, tabletop, outdoor, and decorative accessories under the Pottery Barn brand.
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