Williams-Sonoma, Inc. (WSM) Stock Price Down 13.4% on Analyst Downgrade
Williams-Sonoma, Inc. (NYSE:WSM)’s share price was down 13.4% on Friday after Bank of America Corporation lowered their price target on the stock from $40.00 to $38.00. Bank of America Corporation currently has an underperform rating on the stock. Williams-Sonoma traded as low as $44.01 and last traded at $45.78. Approximately 16,030,072 shares traded hands during trading, an increase of 842% from the average daily volume of 1,701,410 shares. The stock had previously closed at $52.87.
Several other research firms have also recently commented on WSM. Buckingham Research cut their target price on Williams-Sonoma from $53.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, August 24th. Credit Suisse Group set a $44.00 target price on Williams-Sonoma and gave the company a “hold” rating in a research note on Thursday, August 24th. Royal Bank Of Canada boosted their target price on Williams-Sonoma from $49.00 to $50.00 and gave the company a “sector perform” rating in a research note on Thursday, August 24th. Robert W. Baird set a $48.00 target price on Williams-Sonoma and gave the company a “hold” rating in a research note on Tuesday, October 31st. Finally, BidaskClub cut Williams-Sonoma from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.49.
Hedge funds have recently bought and sold shares of the stock. Ffcm LLC acquired a new position in Williams-Sonoma in the 3rd quarter valued at $125,000. Alpha Omega Wealth Management LLC grew its holdings in Williams-Sonoma by 828.3% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 2,785 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 2,485 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Williams-Sonoma by 10.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,911 shares of the specialty retailer’s stock valued at $141,000 after buying an additional 274 shares in the last quarter. IFP Advisors Inc grew its holdings in Williams-Sonoma by 39.8% in the 2nd quarter. IFP Advisors Inc now owns 2,945 shares of the specialty retailer’s stock valued at $143,000 after buying an additional 838 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Williams-Sonoma by 7.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,750 shares of the specialty retailer’s stock valued at $182,000 after buying an additional 250 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.
The firm has a market capitalization of $4,500.00, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.10 and a beta of 0.91.
Williams-Sonoma (NYSE:WSM) last issued its quarterly earnings data on Thursday, November 16th. The specialty retailer reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. Williams-Sonoma had a return on equity of 25.43% and a net margin of 5.96%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. equities analysts predict that Williams-Sonoma, Inc. will post 3.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Friday, October 27th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, October 26th. Williams-Sonoma’s dividend payout ratio is 44.96%.
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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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