State Board of Administration of Florida Retirement System Has $8.61 Million Position in Williams-Sonoma, Inc. (NYSE:WSM)

Posted by Defense World Staff on Sep 18th, 2023

State Board of Administration of Florida Retirement System lowered its stake in shares of Williams-Sonoma, Inc. (NYSE:WSM – Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,796 shares of the specialty retailer’s stock after selling 3,120 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.11% of Williams-Sonoma worth $8,613,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. acquired a new stake in Williams-Sonoma during the first quarter worth approximately $203,000. LPL Financial LLC grew its position in Williams-Sonoma by 26.2% during the first quarter. LPL Financial LLC now owns 30,954 shares of the specialty retailer’s stock worth $3,766,000 after buying an additional 6,424 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Williams-Sonoma by 12.5% in the 1st quarter. MAI Capital Management now owns 2,892 shares of the specialty retailer’s stock valued at $352,000 after purchasing an additional 321 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Williams-Sonoma in the 1st quarter valued at $3,429,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Williams-Sonoma in the 1st quarter valued at $260,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analyst Ratings Changes

WSM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Williams-Sonoma from $115.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, August 24th. Barclays raised their target price on Williams-Sonoma from $115.00 to $123.00 and gave the company an “underweight” rating in a research note on Thursday, August 24th. Bank of America upgraded Williams-Sonoma from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $108.00 to $146.00 in a research note on Thursday, August 24th. TD Cowen upped their target price on Williams-Sonoma from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, August 24th. Finally, Citigroup upped their target price on Williams-Sonoma from $123.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $139.94.

Get Our Latest Stock Report on Williams-Sonoma

Williams-Sonoma Stock Down 0.8 %

WSM opened at $143.99 on Monday. The stock has a market cap of $9.24 billion, a PE ratio of 9.95, a P/E/G ratio of 1.04 and a beta of 1.61. Williams-Sonoma, Inc. has a 52 week low of $109.22 and a 52 week high of $146.29. The business’s fifty day simple moving average is $136.68 and its 200 day simple moving average is $125.72.

Williams-Sonoma (NYSE:WSM – Get Free Report) last released its earnings results on Wednesday, August 23rd. The specialty retailer reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.41. Williams-Sonoma had a return on equity of 64.43% and a net margin of 11.68%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $3.87 earnings per share. The firm’s revenue was down 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Williams-Sonoma, Inc. will post 13.97 earnings per share for the current year.

Williams-Sonoma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, October 20th will be issued a $0.90 dividend. The ex-dividend date is Thursday, October 19th. This represents a $3.60 annualized dividend and a yield of 2.50%. Williams-Sonoma’s dividend payout ratio (DPR) is presently 24.88%.

Insiders Place Their Bets

In other news, EVP Karalyn Smith sold 1,533 shares of Williams-Sonoma stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $131.64, for a total transaction of $201,804.12. Following the completion of the transaction, the executive vice president now directly owns 9,185 shares in the company, valued at $1,209,113.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marta Benson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $140.68, for a total transaction of $1,406,800.00. Following the completion of the sale, the chief executive officer now owns 54,238 shares of the company’s stock, valued at $7,630,201.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karalyn Smith sold 1,533 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $131.64, for a total transaction of $201,804.12. Following the sale, the executive vice president now directly owns 9,185 shares of the company’s stock, valued at approximately $1,209,113.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

About Williams-Sonoma

(Free Report)

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.