Canandaigua National Bank & Trust Co. bought a new stake in shares of Dollar General (NYSE:DG) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 21,553 shares of the company’s stock, valued at approximately $2,016,000.
Several other hedge funds and other institutional investors have also made changes to their positions in DG. BlackRock Inc. grew its holdings in Dollar General by 2.3% during the 1st quarter. BlackRock Inc. now owns 19,303,172 shares of the company’s stock valued at $1,805,813,000 after purchasing an additional 425,173 shares during the last quarter. Longview Partners Guernsey LTD grew its holdings in Dollar General by 0.8% during the 4th quarter. Longview Partners Guernsey LTD now owns 11,417,858 shares of the company’s stock valued at $1,061,975,000 after purchasing an additional 96,198 shares during the last quarter. Polen Capital Management LLC grew its holdings in Dollar General by 0.8% during the 4th quarter. Polen Capital Management LLC now owns 4,977,513 shares of the company’s stock valued at $462,958,000 after purchasing an additional 41,833 shares during the last quarter. Northern Trust Corp grew its holdings in Dollar General by 0.9% during the 1st quarter. Northern Trust Corp now owns 3,774,084 shares of the company’s stock valued at $353,066,000 after purchasing an additional 34,828 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Dollar General by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 3,045,915 shares of the company’s stock valued at $282,757,000 after purchasing an additional 114,898 shares during the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.
In other news, CAO Anita C. Elliott sold 1,892 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $95.75, for a total value of $181,159.00. Following the completion of the sale, the chief accounting officer now owns 14,313 shares of the company’s stock, valued at approximately $1,370,469.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Anita C. Elliott sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $100.87, for a total transaction of $302,610.00. Following the completion of the sale, the senior vice president now directly owns 11,313 shares of the company’s stock, valued at approximately $1,141,142.31. The disclosure for this sale can be found here. Insiders sold a total of 22,987 shares of company stock valued at $2,242,255 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Several equities analysts recently commented on the stock. Argus reiterated a “hold” rating on shares of Dollar General in a report on Thursday, February 8th. They noted that the move was a valuation call. JPMorgan Chase reiterated a “neutral” rating and set a $103.00 price target (up from $94.00) on shares of Dollar General in a report on Thursday, February 22nd. Zacks Investment Research upgraded shares of Dollar General from a “hold” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a report on Tuesday, February 6th. ValuEngine upgraded shares of Dollar General from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Finally, Morgan Stanley set a $122.00 price target on shares of Dollar General and gave the company a “buy” rating in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Dollar General has a consensus rating of “Buy” and a consensus target price of $98.57.
Shares of Dollar General opened at $96.73 on Monday, Marketbeat reports. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.22 and a current ratio of 1.43. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.10 and a beta of 1.01. Dollar General has a one year low of $65.97 and a one year high of $105.82.
Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, March 15th. The company reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. Dollar General had a net margin of 6.55% and a return on equity of 21.65%. The firm had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the company earned $1.49 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. equities analysts forecast that Dollar General will post 6.01 EPS for the current fiscal year.
Dollar General announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 24th. Stockholders of record on Tuesday, April 10th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, April 9th. This is a boost from Dollar General’s previous quarterly dividend of $0.26. Dollar General’s dividend payout ratio is presently 25.84%.
Dollar General Company Profile
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products comprising paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food products, such as cereals, canned soups and vegetables, condiments, spices, sugar, and flour; perishables consisting of milk, eggs, bread, refrigerated and frozen food, beer, and wine; snacks that comprise candies, cookies, crackers, salty snacks, and carbonated beverages; health and beauty products, such as over-the-counter medicines, as well as soap, body wash, shampoo, dental hygiene, and foot care products; pet products, which include pet supplies and pet food; and tobacco products.
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