BOCA RATON, FL / ACCESSWIRE / April 23, 2018 / There's been a steady stream of insider buying at Williams Sonoma (WSM).
On April 20, 2018, President & CEO, Laura Alber bought 20,522 shares. EVP, General Counsel David Randolph King bought 3,284 shares. Marta Benson, President of Pottery Barn bought 1,642 shares. Alex Bellos, President of West Elm Brand bought 1,231 shares.
Williams Sonoma (NYSE: WSM) stock is being accumulated after falling from a high of $56.38 to $47.51 a share, where the stock could be oversold. Insiders may also be buying on better earnings growth projections. For full-year 2018, the company sees EPS of $4.12 to $4.22, which will benefit from the Tax Cuts and Jobs Act.
Trade with confidence. To find out more about insider trades click here.
The board of directors also just authorized a $0.04, or 10% increase in its quarterly cash dividend to $0.43, and a stock buyback program of $500 million.
Williams Sonoma (NYSE: WSM) - fiscal 2017, the company saw net revenue growth of 4.1% to $5.292 billion. Comparable brand revenue grew 3.2%, driven by acceleration in Pottery Barn. It also saw its eighth consecutive year of double-digit comp growth in West Elm and acceleration in Williams Sonoma. E-commerce net revenues increased 5.5% to $2.778 billion. Non-GAAP diluted EPS grew 5.2% to $3.61. Cash returned to stockholders totaled $331 million with $196 million in stock repurchases and $135 million in dividends.
Williams Sonoma (NYSE: WSM) recent insider trades!
According to President & CEO Alber, "We ended the year with a strong fourth quarter. Our product and operational initiatives drove broad-based comp growth in all our brands and a substantial acceleration in e-commerce and retail revenue growth from last year. For the full year, we made significant progress against our strategic priorities to strengthen our competitive advantages and drive accelerated growth. With revenue and EPS growth of 4.1% and 5.2%, respectively, we ended the year again demonstrating our ability to consistently deliver top line and bottom line growth with robust cash flow generation. In 2018, we will continue to strategically invest in digital advertising, technology, and our customer experience, while driving efficiencies and cost savings throughout our business. Looking ahead, we are confident in our strategies and proven track record to further extend our leadership in home furnishings."
All insider filing can be found here. http://www.sec.gov/Archives/edgar/data/719955/000112760218015043/0001127602-18-015043.txt
SOURCE: Chasing Markets
