Renaissance Investment Group Lowers stake in Williams-Sonoma (WSM)

Williams-Sonoma (WSM) : Renaissance Investment Group reduced its stake in Williams-Sonoma by 0.76% during the most recent quarter end. The investment management company now holds a total of 42,836 shares of Williams-Sonoma which is valued at $2.3 Million after selling 330 shares in Williams-Sonoma according to a report filed by the company on Apr 1, 2016 with the SEC.Williams-Sonoma makes up approximately 1.17% of Renaissance Investment Group’s portfolio.

On the company’s financial health, Williams-Sonoma reported $1.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Mar 16, 2016. Analyst had a consensus of $1.58. The company had revenue of $1586.30 million for the quarter, compared to analysts expectations of $1621.42 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS.

Investors should note that on Mar 16, 2016, Williams-Sonoma announced a cash dividend of $0.3700. The company’s management has announced Apr 27, 2016 as the ex-dividend date and fixed the record date on Apr 29, 2016. The payable date has been fixed on May 27, 2016.

Many Wall Street Analysts have commented on Williams-Sonoma. Barclays Initiated Williams-Sonoma on Mar 31, 2016 to “Underweight”, Price Target of the shares are set at $45.Shares were Reiterated by Telsey Advisory Group on Mar 17, 2016 to “Outperform” and Lowered the Price Target to $ 65 from a previous price target of $70 .Shares were Reiterated by RBC Capital Mkts on Mar 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 54 from a previous price target of $59 .

Williams-Sonoma opened for trading at $55.69 and hit $56.642 on the upside on Monday, eventually ending the session at $55.82, with a gain of 0.98% or 0.54 points. The heightened volatility saw the trading volume jump to 9,53,861 shares. Company has a market cap of $4,977 M.

Williams-Sonoma Inc. is an e-commerce and multi-channel specialty retailer of products for the home with some brands in home furnishings. The Company operates in two segments: e-commerce and retail. The e-commerce segment has the merchandising strategies which include Williams-Sonoma Pottery Barn Pottery Barn Kids West Elm PBteen Williams-Sonoma Home Rejuvenation and Mark and Graham which sells its products through its e-commerce Websites and direct-mail catalogs. The retail segment has the merchandising strategies which include Williams-Sonoma Pottery Barn Pottery Barn Kids West Elm and Rejuvenation which sells its products through its retail stores. The Company operates retail stores in the United States Canada Puerto Rico Australia and the United Kingdom and franchises its brands to third-parties in various countries in the Middle East and the Philippines. The Company’s products are also available to customers through its catalogs and online across the world.

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