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

Williams-Sonoma, Inc. (NYSE:WSM)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $165.01, but opened at $142.35. Williams-Sonoma shares last traded at $135.85, with a volume of 784,630 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their price target on Williams-Sonoma from $226.00 to $208.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Evercore ISI lowered their target price on shares of Williams-Sonoma from $180.00 to $175.00 and set an “in-line” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Williams-Sonoma from $153.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Gordon Haskett raised Williams-Sonoma to a “hold” rating in a report on Thursday, February 13th. Finally, Barclays increased their target price on Williams-Sonoma from $123.00 to $131.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.60.

Williams-Sonoma Stock Performance

The company has a 50-day moving average of $191.08 and a 200-day moving average of $174.01. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 2.89 and a beta of 1.82.

Williams-Sonoma (NYSE:WSM) last issued its quarterly earnings data on Wednesday, March 19th. The specialty retailer reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.40. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.34 billion. Williams-Sonoma had a return on equity of 51.56% and a net margin of 14.54%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.44 earnings per share. As a group, analysts expect that Williams-Sonoma, Inc. will post 8.36 earnings per share for the current year.

Williams-Sonoma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 24th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Williams-Sonoma’s previous quarterly dividend of $0.57. Williams-Sonoma’s dividend payout ratio is currently 29.30%.

Insider Activity

In related news, CEO Laura Alber sold 30,000 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $165.78, for a total value of $4,973,400.00. Following the transaction, the chief executive officer now directly owns 1,018,374 shares of the company’s stock, valued at approximately $168,826,041.72. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Howie sold 1,408 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $194.32, for a total value of $273,602.56. Following the sale, the chief financial officer now directly owns 46,388 shares of the company’s stock, valued at approximately $9,014,116.16. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,720 shares of company stock valued at $20,616,369 over the last quarter. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Williams-Sonoma

Several hedge funds and other institutional investors have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Williams-Sonoma by 83.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,461 shares of the specialty retailer’s stock worth $3,325,000 after purchasing an additional 9,771 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Williams-Sonoma during the 3rd quarter worth approximately $369,000. Ascent Group LLC boosted its holdings in Williams-Sonoma by 36.8% in the 3rd quarter. Ascent Group LLC now owns 2,441 shares of the specialty retailer’s stock worth $378,000 after acquiring an additional 657 shares during the period. HighTower Advisors LLC grew its position in Williams-Sonoma by 639.1% in the third quarter. HighTower Advisors LLC now owns 115,512 shares of the specialty retailer’s stock valued at $17,893,000 after acquiring an additional 99,883 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its stake in shares of Williams-Sonoma by 111.3% during the third quarter. Investment Management Corp of Ontario now owns 31,890 shares of the specialty retailer’s stock valued at $4,940,000 after purchasing an additional 16,795 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.

Williams-Sonoma Company Profile

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.