Williams-Sonoma (NYSE:WSM) Given New $56.00 Price Target at Morgan Stanley

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Williams-Sonoma (NYSE:WSM) had its price target lifted by Morgan Stanley from $52.00 to $56.00 in a research note published on Wednesday, Stock Target Advisor reports. The firm currently has an underweight rating on the specialty retailer’s stock.

WSM has been the subject of several other reports. Berenberg Bank increased their price objective on Hiscox from GBX 1,569 ($20.50) to GBX 1,581 ($20.66) and gave the stock a hold rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 price objective for the company in a research report on Friday, June 28th. Citigroup set a $27.00 price target on StoneCo and gave the stock a hold rating in a research note on Friday, May 31st. Gordon Haskett upgraded Williams-Sonoma from a hold rating to an accumulate rating and set a $68.00 price target on the stock in a research note on Thursday, June 13th. Finally, UBS Group upped their price target on Zscaler from $60.00 to $70.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $60.81.

Shares of Williams-Sonoma stock opened at $65.44 on Wednesday. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. Williams-Sonoma has a fifty-two week low of $45.01 and a fifty-two week high of $73.99. The company has a quick ratio of 0.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $60.16.

Williams-Sonoma (NYSE:WSM) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Williams-Sonoma had a return on equity of 33.75% and a net margin of 5.98%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. Equities research analysts predict that Williams-Sonoma will post 4.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, July 26th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, July 25th. Williams-Sonoma’s dividend payout ratio (DPR) is 43.05%.

In other news, Director Sabrina Simmons sold 1,750 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $60.08, for a total value of $105,140.00. Following the sale, the director now directly owns 10,915 shares in the company, valued at $655,773.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marta Benson sold 5,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $61.60, for a total value of $308,000.00. Following the completion of the sale, the insider now owns 17,061 shares in the company, valued at $1,050,957.60. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WSM. Clark Capital Management Group Inc. grew its holdings in shares of Williams-Sonoma by 660.7% during the second quarter. Clark Capital Management Group Inc. now owns 355,103 shares of the specialty retailer’s stock worth $23,082,000 after purchasing an additional 308,422 shares during the last quarter. Ingalls & Snyder LLC grew its holdings in shares of Williams-Sonoma by 31.6% during the second quarter. Ingalls & Snyder LLC now owns 19,968 shares of the specialty retailer’s stock worth $1,298,000 after purchasing an additional 4,796 shares during the last quarter. Smithbridge Asset Management Inc. DE grew its holdings in shares of Williams-Sonoma by 1.5% during the second quarter. Smithbridge Asset Management Inc. DE now owns 52,645 shares of the specialty retailer’s stock worth $3,422,000 after purchasing an additional 795 shares during the last quarter. Signature Wealth Management Group grew its holdings in shares of Williams-Sonoma by 0.8% during the second quarter. Signature Wealth Management Group now owns 54,331 shares of the specialty retailer’s stock worth $3,523,000 after purchasing an additional 442 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Williams-Sonoma by 5.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 37,903 shares of the specialty retailer’s stock worth $2,133,000 after purchasing an additional 1,839 shares during the last quarter.

About Williams-Sonoma

Williams-Sonoma, Inc operates as a multi-channel specialty retailer of various products for home. It operates through two segments, E-commerce and Retail. The company offers cooking, dining, and entertaining products, including 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, bathroom accessories, rugs, curtains, lighting, tabletop, outdoor, and decorative accessories under the Pottery Barn brand.

Further Reading: What Factors Can Affect Return on Equity?

Analyst Recommendations for Williams-Sonoma (NYSE:WSM)

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