WSM - Is This Passive Income Machine a Buy After Its Huge Payout Hike?
2023-03-22 05:15:00 ET
In the case of more established companies that pay a dividend, dividend growth is an excellent barometer to measure the quality of a business. That's because, all else equal, rapid dividend growth means that profits are quickly growing as well to support the payout.
Hot off a 15.4% hike in its quarterly dividend per share to $0.90 earlier this month, the high-end home retailer known as Williams-Sonoma (NYSE: WSM) is a top-notch dividend growth stock. This raises the following question: Should dividend growth investors buy the stock at the recent $119 share price? Let's dig into the retailer's fundamentals and valuation to decide.
Williams-Sonoma is a design-focused home furnishings and kitchen retailer. The California-based business is best known for its eponymous brand named Williams-Sonoma, as well as West Elm, Pottery Barn, and Rejuvenation.
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Is This Passive Income Machine a Buy After Its Huge Payout Hike?