Williams-Sonoma, Inc. (NYSE:WSM) Sees Large Drop in Short Interest

Williams-Sonoma, Inc. (NYSE:WSM) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 10,350,000 shares, a decline of 13.6% from the December 15th total of 11,980,000 shares. Based on an average trading volume of 2,020,000 shares, the days-to-cover ratio is presently 5.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Williams-Sonoma from $116.00 to $123.00 and gave the company an “underweight” rating in a research note on Thursday, November 21st. Wedbush increased their price target on Williams-Sonoma from $135.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Loop Capital lifted their price objective on shares of Williams-Sonoma from $145.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. TD Cowen increased their target price on shares of Williams-Sonoma from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Citigroup decreased their price target on shares of Williams-Sonoma from $140.00 to $134.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Williams-Sonoma currently has a consensus rating of “Hold” and an average target price of $160.03.

Insiders Place Their Bets

In related news, CFO Jeffrey Howie sold 3,160 shares of Williams-Sonoma stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.39, for a total value of $560,552.40. Following the transaction, the chief financial officer now directly owns 46,388 shares of the company’s stock, valued at $8,228,767.32. The trade was a 6.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laura Alber sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $130.49, for a total transaction of $5,219,600.00. Following the transaction, the chief executive officer now owns 990,956 shares of the company’s stock, valued at approximately $129,309,848.44. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Williams-Sonoma

A number of institutional investors have recently added to or reduced their stakes in WSM. Smithfield Trust Co increased its position in shares of Williams-Sonoma by 100.0% during the 3rd quarter. Smithfield Trust Co now owns 160 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Quest Partners LLC bought a new position in Williams-Sonoma during the second quarter valued at about $26,000. Cassady Schiller Wealth Management LLC increased its holdings in Williams-Sonoma by 100.0% during the third quarter. Cassady Schiller Wealth Management LLC now owns 166 shares of the specialty retailer’s stock worth $26,000 after buying an additional 83 shares during the last quarter. Brooklyn Investment Group bought a new stake in Williams-Sonoma in the third quarter worth about $28,000. Finally, Clean Yield Group purchased a new position in Williams-Sonoma in the third quarter valued at about $30,000. 99.29% of the stock is owned by institutional investors.

Williams-Sonoma Stock Performance

WSM traded up $3.60 during mid-day trading on Friday, reaching $202.73. 1,452,286 shares of the stock were exchanged, compared to its average volume of 1,779,851. Williams-Sonoma has a 1 year low of $95.76 and a 1 year high of $204.68. The stock has a market capitalization of $24.96 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.00 and a beta of 1.79. The company has a 50 day moving average price of $179.29 and a two-hundred day moving average price of $155.34.

Williams-Sonoma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, January 17th. Williams-Sonoma’s dividend payout ratio (DPR) is presently 26.97%.

About Williams-Sonoma

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.