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Williams-Sonoma Beats in Fourth Quarter, Raises Dividend 26%

publication date: Mar 13, 2024
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Image: Williams-Sonoma is facing revenue pressure, but free cash flow trends are robust. Image Source: Williams-Sonoma.

On March 13, Williams-Sonoma surprised the Street to the upside with better-than-expected fourth quarter results, a huge dividend increase, and the launch of an incremental $1 billion in share repurchases. We expect to raise our fair value estimate as a result of the good news. Though the firm’s sales continue to face pressure due to a weakened housing market, its cash-based sources of intrinsic value are robust, and shares yield 1.6% on a forward estimated basis.



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