Consequently, specific money managers were breaking ground themselves. MIK Capital, managed by Kamyar Khajavi, established the most outsized position in Williams-Sonoma, Inc. (NYSE:WSM). MIK Capital had $28.2 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also initiated a $24.3 million position during the quarter. The other funds with new positions in the stock are Alexander Mitchell’s Scopus Asset Management, Gregg Moskowitz’s Interval Partners, and Gregg Moskowitz’s Interval Partners.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Williams-Sonoma, Inc. (NYSE:WSM) but similarly valued. We will take a look at Seattle Genetics, Inc. (NASDAQ:SGEN), Sonoco Products Company (NYSE:SON), Bemis Company, Inc. (NYSE:BMS), and STMicroelectronics N.V. (ADR) (NYSE:STM). This group of stocks’ market valuations are closest to WSM’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $485 million. That figure was $281 million in WSM’s case. Bemis Company, Inc. (NYSE:BMS) is the most popular stock in this table. On the other hand STMicroelectronics N.V. (ADR) (NYSE:STM) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Williams-Sonoma, Inc. (NYSE:WSM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.