JPMorgan Chase & Co. Raises Stake in Williams-Sonoma Inc. (WSM)
JPMorgan Chase & Co. boosted its stake in Williams-Sonoma Inc. (NYSE:WSM) by 185.4% during the second quarter, Holdings Channel reports. The fund owned 188,731 shares of the company’s stock after buying an additional 122,611 shares during the period. JPMorgan Chase & Co. owned 0.21% of Williams-Sonoma worth $9,839,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Williams-Sonoma by 28.2% in the first quarter. Geode Capital Management LLC now owns 614,648 shares of the company’s stock valued at $33,645,000 after buying an additional 135,224 shares during the last quarter. Renaissance Technologies LLC increased its position in Williams-Sonoma by 128.7% in the first quarter. Renaissance Technologies LLC now owns 731,700 shares of the company’s stock valued at $40,053,000 after buying an additional 411,800 shares during the last quarter. Boston Advisors LLC increased its position in Williams-Sonoma by 361.4% in the second quarter. Boston Advisors LLC now owns 284,828 shares of the company’s stock valued at $14,848,000 after buying an additional 223,100 shares during the last quarter. Teachers Advisors Inc. increased 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 valued at $3,868,000 after buying an additional 1,975 shares during the last quarter. Finally, BlackRock Group LTD increased its position in Williams-Sonoma by 173.0% in the first quarter. BlackRock Group LTD now owns 346,819 shares of the company’s stock valued at $18,985,000 after buying an additional 219,791 shares during the last quarter. Institutional investors own 96.59% of the company’s stock.
Shares of Williams-Sonoma Inc. (NYSE:WSM) traded up 1.04% during trading on Wednesday, hitting $51.51. The company had a trading volume of 395,707 shares. The stock’s 50-day moving average is $51.39 and its 200 day moving average is $53.63. Williams-Sonoma Inc. has a 52-week low of $47.33 and a 52-week high of $79.14. The firm has a market capitalization of $4.56 billion, a P/E ratio of 15.42 and a beta of 1.02.
Williams-Sonoma (NYSE:WSM) last posted its earnings results on Wednesday, August 24th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Williams-Sonoma had a return on equity of 26.86% and a net margin of 5.97%. Williams-Sonoma’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. Equities research analysts predict that Williams-Sonoma Inc. will post $3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Thursday, October 27th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, October 25th. Williams-Sonoma’s payout ratio is 44.31%.
Several research analysts have commented on WSM shares. Argus restated a “buy” rating and set a $75.00 price objective on shares of Williams-Sonoma in a report on Monday, August 29th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Williams-Sonoma in a report on Sunday. Barclays PLC reiterated an “underweight” rating and issued a $45.00 price target on shares of Williams-Sonoma in a report on Tuesday, August 23rd. Vetr downgraded Williams-Sonoma from a “strong-buy” rating to a “buy” rating and set a $56.74 price target on the stock. in a report on Tuesday, August 23rd. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $56.00 price target (down from $60.00) on shares of Williams-Sonoma in a report on Friday, August 26th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.70.
In other Williams-Sonoma news, insider Janet Hayes sold 15,027 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $49.74, for a total transaction of $747,442.98. Following the transaction, the insider now owns 32,776 shares of the company’s stock, valued at $1,630,278.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laura Alber sold 80,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $53.19, for a total value of $4,255,200.00. Following the transaction, the chief executive officer now directly owns 307,860 shares in the company, valued at approximately $16,375,073.40. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Williams-Sonoma Company Profile
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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