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Guru Stocks Raising Dividends: JNJ, LXK, SXT, PFS, CBRL

April 30, 2012 | About:
10qk

GuruFocus

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This is the group of companies who raised their dividend during the week:

Johnson & Johns (JNJ)

Johnson & Johnson is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. Johnson & Johns has a market cap of $177.76 billion; its shares were traded at around $64.79 with a P/E ratio of 12.9 and P/S ratio of 2.73. On April 26, the company increased its quarterly dividend 7% to $0.61 per share. The dividend is payable June 12, 2012 to shareholders of record as of May 29, 2012. The yield based on the new payout is 3.8%.

Johnson & Johnson announced sales of $16.1 billion for the first quarter of 2012, a decrease of 0.2% as compared to the first quarter of 2011. Operational results increased 1.0% and the negative impact of currency was 1.2%. Domestic sales declined 5.1%.

Ray Dalio, John Hussman and Prem Watsa own shares of JNJ shares.

Chairman and CEO William C. Weldon, Vice President and General Counsel Russell C. Deyo, and Vice President and General Counsel Russell C. Deyo sold shares of JNJ stock.

Lexmark International (LXK)

Lexmark International Inc. makes it easier for businesses and consumers to move information between the digital and paper worlds. Lexmark International has a market cap of $2.15 billion; its shares were traded at around $30.14 with a P/E ratio of 6.54 and P/S ratio of 0.51. On April 26, the company increased its quarterly dividend 20% to $0.30 per share. The dividend is payable June 15, 2012, to shareholders of record as of the close of business on June 1, 2012. The yield based on the new payout is 4.0%.

Lexmark International Inc. announced financial results for the first quarter of 2012. Revenue was $992 million compared to $1.034 billion last year. Net earnings were $61 million compared to 2011 net earnings of $83 million.

Hotchkis & Wiley, David Dreman and Third Avenue Management own shares of LXK stock.

Chairman and CEO Paul A. Rooke, Executive Vice President and CFO John W. Gamble Jr., and Executive Vice President Martin S. Canning sold shares of LXK stock.

Sensient Technologies Corporation (SXT)

Sensient Technologies Corporation is a global supplier of colors, flavors and fragrances. Sensient Technologies Corporation has a market cap of $1.88 billion; its shares were traded at around $37.77 with a P/E ratio of 15.22 and P/S ratio of 1.31. On April 26, the company increased its quarterly dividend 4.8% to $0.22 per share. The dividend is payable June 1, 2012, to shareholders of record on May 9, 2012. The yield based on the new payout is 2.3%.

Sensient Technologies Corporation reported new first quarter records for revenue, operating income and earnings per share for the three months ended March 31, 2012. Diluted earnings per share were 58 cents, an increase of 9.4% over the 53 cents reported in last year's first quarter. Consolidated revenue increased 4.6% to $365.7 million in the first quarter compared to $349.7 million reported in the comparable period for 2011. Operating income for the three months ended March 31, 2012, was $46.5 million, an increase of 6.6% over the $43.6 million reported in the first three months of last year.

Joel Greenblatt, Third Avenue Management, and Mario Gabelli own shares of SXT stock.

Chairman, President and CEO Kenneth P. Manning, Senior Vice President and CFO Richard F. Hobbs and Senior Vice President and CFO Richard F. Hobbs sold shares of SXT stock.

Provident Financial Services Inc. (PFS)

Provident Financial Services Inc. is the holding company of The Provident Bank, a community- and customer-oriented banking company. Provident Financial Services Inc. has a market cap of $872.9 million; its shares were traded at around $14.92 with a P/E ratio of 14.1 and P/S ratio of 2.83. On April 26, the company increased its quarterly dividend 8.3% to $0.13 per share payable. The dividend is payable on May 31, 2012, to stockholders of record as of the close of business on May 15, 2012. The yield based on the new payout is 3.6%.

Provident Financial Services Inc. reported net income of $14.9 million, or $0.26 per basic and diluted share for the quarter ended Dec. 31, 2011, compared to net income of $12.1 million, or $0.21 per basic and diluted share for the quarter ended Dec. 31, 2010. Total assets increased $272.9 million, or 4.0%, to $7.10 billion at December 31, 2011, from $6.82 billion at Dec. 31, 2010.

John Keeley owns 1,372,500 shares as of 12/31/2011, which accounts for 0.38% of the $4.78 billion portfolio of Keeley Fund Management.

Director Thomas W. Berry bought shares of PFS stock.

Cracker Barrel (CBRL)

Cracker Barrel Old Country Store Inc., formerly CBRL Group Inc. Cracker Barrel has a market cap of $1.33 billion; its shares were traded at around $57.81 with a P/E ratio of 15.21 and P/S ratio of 0.55. On April 26, the company increased the quarterly dividend to $0.40 per share. The dividend is payable on Aug. 6, 2012 to shareholders of record as of July 20, 2012. The yield based on the new payout is 2.8%.

Cracker Barrel Old Country Store Inc. reported financial results for the second quarter of fiscal 2012 ended Jan. 27, 2012, and increased its full-year earnings guidance. The company reported total revenue of $673.2 million for the second quarter of fiscal 2012 representing an increase of 5.1% over the second quarter of fiscal 2011. In the second quarter of fiscal 2012, adjusted operating income was $50.6 million, or 7.5% of total revenue, compared with operating income of $52.5 million, or 8.2% of total revenue, in the second quarter of fiscal 2011.

Joel Greenblatt owns shares of CBRL stock. Sardar Biglari, bought shares of CBRL stock.

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