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

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

Several other research firms have also commented on WSM. Wedbush set a $12.00 target price on shares of GameStop and gave the company a buy rating in a research note on Friday, May 31st. Zacks Investment Research upgraded shares of Booz Allen Hamilton from a hold rating to a buy rating and set a $71.00 price target for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. upped their price target on shares of Yum China from $36.50 to $48.00 and gave the company an overweight rating in a research report on Monday, March 18th. Berenberg Bank upped their price target on shares of Hiscox from GBX 1,569 ($20.50) to GBX 1,581 ($20.66) and gave the company a hold rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada upped their price target on shares of Williams-Sonoma to $60.00 and gave the company a sector perform rating in a research report on Thursday, March 21st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Williams-Sonoma has a consensus rating of Hold and an average target price of $60.81.

WSM stock opened at $65.44 on Wednesday. Williams-Sonoma has a 12 month low of $45.01 and a 12 month high of $73.99. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.89 and a beta of 0.86. The company’s 50 day simple moving average is $60.16. The company has a current ratio of 1.33, a quick ratio of 0.30 and a debt-to-equity ratio of 1.28.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, July 26th will be paid a $0.48 dividend. The ex-dividend date is Thursday, July 25th. This represents a $1.92 annualized dividend and a yield of 2.93%. Williams-Sonoma’s dividend payout ratio is presently 43.05%.

In other Williams-Sonoma news, insider Marta Benson sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 17,061 shares in the company, valued at approximately $1,050,957.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sabrina Simmons sold 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $60.08, for a total transaction of $105,140.00. Following the completion of the transaction, the director now owns 10,915 shares in the company, valued at approximately $655,773.20. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in WSM. Northern Trust Corp raised its holdings in Williams-Sonoma by 3.1% in the 4th quarter. Northern Trust Corp now owns 850,654 shares of the specialty retailer’s stock worth $42,915,000 after purchasing an additional 25,462 shares during the period. Great West Life Assurance Co. Can raised its holdings in Williams-Sonoma by 6.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 48,734 shares of the specialty retailer’s stock worth $2,282,000 after purchasing an additional 3,044 shares during the period. Commonwealth Bank of Australia raised its holdings in Williams-Sonoma by 6.1% in the 4th quarter. Commonwealth Bank of Australia now owns 10,500 shares of the specialty retailer’s stock worth $529,000 after purchasing an additional 600 shares during the period. Dimensional Fund Advisors LP raised its holdings in Williams-Sonoma by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,199,632 shares of the specialty retailer’s stock worth $60,520,000 after purchasing an additional 46,370 shares during the period. Finally, Neuburgh Advisers LLC raised its holdings in Williams-Sonoma by 21.5% in the 4th quarter. Neuburgh Advisers LLC now owns 19,754 shares of the specialty retailer’s stock worth $997,000 after purchasing an additional 3,502 shares during the period.

Williams-Sonoma Company Profile

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.

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