Kornitzer Capital Management Inc. KS decreased its stake in Williams-Sonoma, Inc. (NYSE:WSM) by 45.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 313,360 shares of the specialty retailer’s stock after selling 257,610 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.39% of Williams-Sonoma worth $20,594,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in WSM. Itau Unibanco Holding S.A. bought a new position in shares of Williams-Sonoma during the 2nd quarter valued at $101,000. JNBA Financial Advisors bought a new position in shares of Williams-Sonoma during the 3rd quarter valued at $168,000. Ontario Teachers Pension Plan Board bought a new position in shares of Williams-Sonoma during the 3rd quarter valued at $205,000. Paragon Capital Management Ltd bought a new position in shares of Williams-Sonoma during the 3rd quarter valued at $207,000. Finally, Pillar Pacific Capital Management LLC bought a new position in shares of Williams-Sonoma during the 2nd quarter valued at $209,000.
Shares of WSM opened at $56.63 on Friday. The firm has a market capitalization of $4.56 billion, a P/E ratio of 13.91, a PEG ratio of 1.73 and a beta of 0.95. Williams-Sonoma, Inc. has a one year low of $46.92 and a one year high of $73.99. The company has a current ratio of 1.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.27.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Friday, October 26th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, October 25th. This represents a $1.72 annualized dividend and a yield of 3.04%. Williams-Sonoma’s dividend payout ratio (DPR) is presently 47.65%.
WSM has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Williams-Sonoma from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. Credit Suisse Group set a $55.00 price target on shares of Williams-Sonoma and gave the company a “sell” rating in a report on Monday, November 5th. Jefferies Financial Group restated a “hold” rating and set a $57.00 price target on shares of Williams-Sonoma in a report on Monday, November 19th. Citigroup raised their price target on shares of Williams-Sonoma from $67.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 23rd. Finally, Royal Bank of Canada cut their price target on shares of Williams-Sonoma to $62.00 and set a “hold” rating on the stock in a report on Friday, November 16th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $58.60.
In related news, insider Janet Hayes sold 14,376 shares of Williams-Sonoma stock in a transaction on Friday, September 14th. The shares were sold at an average price of $68.10, for a total value of $979,005.60. Following the transaction, the insider now owns 44,889 shares in the company, valued at approximately $3,056,940.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
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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