Modera Wealth Management LLC has reduced its investment in Williams-Sonoma, Inc. (NYSE: WSM) by 2.7%, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The firm now holds 203,288 shares of the home goods retailer, valued at approximately $33.21 million after selling 5,648 shares during the second quarter of 2023.
Several other institutional investors have also adjusted their positions in Williams-Sonoma. For example, Maseco LLP acquired a new stake in the company worth $26,000 during the same quarter. Quarry LP made a significant move by increasing its holdings by 99%, now owning 199 shares valued at $31,000 after purchasing an additional 99 shares. Similarly, Costello Asset Management INC invested $32,000 in the first quarter, while Richardson Financial Services Inc. added a position worth about $48,000 in the second quarter. Notably, Cromwell Holdings LLC increased its stake substantially by 7,675%, acquiring 311 shares valued at $51,000.
Institutional investors collectively own 99.29% of Williams-Sonoma’s stock, indicating strong confidence in the company.
Williams-Sonoma Stock Performance and Dividend Announcement
On the trading front, Williams-Sonoma opened at $191.86 on the New York Stock Exchange. The company’s stock has experienced fluctuations, with a 12-month low of $128.26 and a high of $219.98. Its 50-day moving average stands at $194.77, while the 200-day moving average is $180.03. With a market capitalization of approximately $23.37 billion, the company has a price-to-earnings (P/E) ratio of 21.11 and a P/E growth (P/E/G) ratio of 3.16.
Adding to its appeal for investors, Williams-Sonoma recently declared a quarterly dividend of $0.66 per share. This payment will be made on November 21, 2023, to stockholders of record on October 17, 2023. The annualized dividend totals $2.64, yielding approximately 1.4%. The current dividend payout ratio stands at 29.04%.
Insider Trading Activity and Analyst Ratings
Recent insider trading activity has also been noteworthy. Chief Financial Officer Jeffrey Howie sold 3,153 shares on September 18, 2023, at an average price of $198.84, amounting to a total of $626,942.52. Post-sale, Howie holds 34,138 shares, valued at approximately $6.79 million, reflecting an 8.46% decrease in his position.
Executive Vice President David Randolph King also sold 17,500 shares on September 8, 2023, at an average price of $203.60, totaling $3.56 million. King now retains 98,560 shares, valued at around $20.07 million, marking a decrease of 15.08% in his holdings. Over the past three months, insiders have sold a total of 114,153 shares valued at $22.90 million, with insiders currently owning 1.10% of the stock.
A number of analysts have recently revised their ratings for Williams-Sonoma. KeyCorp raised its target price from $181.00 to $230.00, designating the stock as “overweight.” Citigroup increased its price target from $162.00 to $202.00 while assigning a “neutral” rating. Additionally, JPMorgan Chase & Co. upped its price target from $168.00 to $215.00, also issuing a “neutral” rating.
Overall, Williams-Sonoma has garnered mixed reviews from analysts, with two rating it as a Strong Buy, eight as a Buy, ten as a Hold, and one as a Sell, according to data from MarketBeat. The consensus rating is “Moderate Buy,” with a target price of $198.56.
In summary, Modera Wealth Management’s recent adjustments, insider trading activities, and varied analyst ratings reflect the dynamic nature of investment in Williams-Sonoma, Inc., as stakeholders navigate the company’s performance in the competitive retail landscape.
