Westpac Banking Corp Raises Stake in Williams-Sonoma Inc. (WSM)
Westpac Banking Corp raised its position in Williams-Sonoma Inc. (NYSE:WSM) by 26.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 123,200 shares of the company’s stock after buying an additional 26,100 shares during the period. Westpac Banking Corp owned 0.14% of Williams-Sonoma worth $6,422,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Group LTD boosted its stake in shares of Williams-Sonoma by 173.0% in the first quarter. BlackRock Group LTD now owns 346,819 shares of the company’s stock worth $18,985,000 after buying an additional 219,791 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Williams-Sonoma by 55.4% in the first quarter. BlackRock Inc. now owns 52,417 shares of the company’s stock worth $2,868,000 after buying an additional 18,694 shares during the last quarter. Teachers Advisors Inc. raised its position in Williams-Sonoma by 2.9% in the first quarter. Teachers Advisors Inc. now owns 70,669 shares of the company’s stock worth $3,868,000 after buying an additional 1,975 shares in the last quarter. Pacad Investment Ltd. raised its position in Williams-Sonoma by 123.4% in the first quarter. Pacad Investment Ltd. now owns 23,900 shares of the company’s stock worth $1,308,000 after buying an additional 13,200 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management raised its position in Williams-Sonoma by 8.6% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 56,581 shares of the company’s stock worth $3,097,000 after buying an additional 4,466 shares in the last quarter. Hedge funds and other institutional investors own 96.36% of the company’s stock.
Williams-Sonoma Inc. (NYSE:WSM) traded down 0.28% during trading on Tuesday, reaching $49.91. 159,238 shares of the company’s stock were exchanged. Williams-Sonoma Inc. has a 52-week low of $47.33 and a 52-week high of $79.55. The firm has a market cap of $4.42 billion, a P/E ratio of 14.94 and a beta of 1.01. The stock’s 50 day moving average price is $52.06 and its 200 day moving average price is $54.18.
Williams-Sonoma (NYSE:WSM) last released its quarterly earnings results on Wednesday, August 24th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Williams-Sonoma had a net margin of 5.97% and a return on equity of 26.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.58 earnings per share. Williams-Sonoma’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Williams-Sonoma Inc. will post $3.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Thursday, October 27th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, October 25th. Williams-Sonoma’s dividend payout ratio is 44.31%.
A number of research firms recently commented on WSM. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $56.00 price objective (down previously from $60.00) on shares of Williams-Sonoma in a research note on Friday, August 26th. Vetr lowered shares of Williams-Sonoma from a “strong-buy” rating to a “buy” rating and set a $56.74 target price for the company. in a research note on Tuesday, August 23rd. Citigroup Inc. decreased their target price on shares of Williams-Sonoma from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $65.00 target price on shares of Williams-Sonoma in a research note on Thursday, August 25th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $54.00 target price (down previously from $55.00) on shares of Williams-Sonoma in a research note on Thursday, August 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.70.
In related news, CEO Laura Alber sold 80,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $53.19, for a total transaction of $4,255,200.00. Following the transaction, the chief executive officer now directly owns 307,860 shares of the company’s stock, valued at $16,375,073.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Williams-Sonoma, Inc is a multi-channel specialty retailer of products for the home. The Company operates retail stores in the United States, Canada, Puerto Rico, Australia and the United Kingdom. It operates through two segments: e-commerce and retail. The e-commerce segment has various merchandising strategies, such as Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams-Sonoma Home, Rejuvenation and Mark and Graham, which sell its products through the Company’s e-commerce Websites and direct-mail catalogs.
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