Williams-Sonoma, Inc. (NYSE:WSM) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its holdings in Williams-Sonoma, Inc. (NYSE:WSM) by 3.0% during the first quarter, HoldingsChannel reports. The fund owned 4,247 shares of the specialty retailer’s stock after buying an additional 124 shares during the period. Synovus Financial Corp’s holdings in Williams-Sonoma were worth $763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WSM. Norges Bank acquired a new position in Williams-Sonoma in the fourth quarter valued at approximately $85,456,000. Select Equity Group L.P. raised its position in Williams-Sonoma by 40.4% in the fourth quarter. Select Equity Group L.P. now owns 2,458,002 shares of the specialty retailer’s stock valued at $250,323,000 after purchasing an additional 707,625 shares during the period. BlackRock Inc. raised its position in Williams-Sonoma by 10.6% in the first quarter. BlackRock Inc. now owns 7,318,249 shares of the specialty retailer’s stock valued at $1,311,431,000 after purchasing an additional 701,706 shares during the period. Morgan Stanley raised its position in Williams-Sonoma by 248.5% in the fourth quarter. Morgan Stanley now owns 320,243 shares of the specialty retailer’s stock valued at $32,613,000 after purchasing an additional 228,352 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in Williams-Sonoma by 24.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,021,215 shares of the specialty retailer’s stock valued at $104,001,000 after purchasing an additional 202,615 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

A number of brokerages have issued reports on WSM. Gordon Haskett raised Williams-Sonoma from a “hold” rating to a “buy” rating in a research report on Thursday, March 18th. Citigroup began coverage on Williams-Sonoma in a research report on Tuesday, March 9th. They issued a “neutral” rating and a $127.00 target price on the stock. Argus boosted their target price on Williams-Sonoma from $185.00 to $205.00 in a research report on Tuesday, April 6th. Oppenheimer reaffirmed a “hold” rating and set a $136.00 price objective on shares of Williams-Sonoma in a research report on Thursday, March 18th. Finally, Bank of America upgraded shares of Williams-Sonoma from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $100.00 to $180.00 in a research note on Tuesday, June 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $161.28.

In related news, Director Sabrina Simmons sold 1,107 shares of the stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $172.68, for a total transaction of $191,156.76. Following the completion of the transaction, the director now directly owns 14,731 shares of the company’s stock, valued at $2,543,749.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan Ross sold 4,420 shares of the stock in a transaction dated Tuesday, March 23rd. The stock was sold at an average price of $180.00, for a total transaction of $795,600.00. Following the transaction, the insider now directly owns 10,860 shares of the company’s stock, valued at $1,954,800. The disclosure for this sale can be found here. Insiders have sold 63,527 shares of company stock valued at $10,895,367 in the last quarter. Insiders own 1.60% of the company’s stock.

NYSE WSM opened at $166.68 on Friday. Williams-Sonoma, Inc. has a 1 year low of $77.79 and a 1 year high of $194.69. The firm has a market capitalization of $12.55 billion, a P/E ratio of 19.36, a PEG ratio of 1.98 and a beta of 1.67. The company has a fifty day moving average of $173.23.

Williams-Sonoma (NYSE:WSM) last announced its earnings results on Tuesday, May 25th. The specialty retailer reported $2.93 earnings per share for the quarter, topping the consensus estimate of $1.83 by $1.10. Williams-Sonoma had a net margin of 10.03% and a return on equity of 51.02%. On average, analysts forecast that Williams-Sonoma, Inc. will post 9.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, April 23rd were paid a dividend of $0.59 per share. This is an increase from Williams-Sonoma’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, April 22nd. This represents a $2.36 annualized dividend and a dividend yield of 1.42%. Williams-Sonoma’s dividend payout ratio is 26.11%.

Williams-Sonoma 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 brand, as well as home furnishings and decorative accessories under the Williams Sonoma Home brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.

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Institutional Ownership by Quarter for Williams-Sonoma (NYSE:WSM)

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