Paloma Partners Management Co lessened its holdings in shares of Dollar General Corp. (NYSE:DG) by 74.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,685 shares of the company’s stock after selling 46,236 shares during the period. Paloma Partners Management Co’s holdings in Dollar General were worth $1,546,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of DG. Sterling Capital Management LLC grew its position in Dollar General by 29.5% during the 2nd quarter. Sterling Capital Management LLC now owns 877,146 shares of the company’s stock worth $86,487,000 after acquiring an additional 199,810 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Dollar General in the 2nd quarter valued at $5,462,000. Measured Wealth Private Client Group LLC bought a new position in Dollar General in the 2nd quarter valued at $363,000. Bank of America Corp DE boosted its position in Dollar General by 22.6% in the 2nd quarter. Bank of America Corp DE now owns 981,869 shares of the company’s stock valued at $96,811,000 after buying an additional 180,710 shares during the last quarter. Finally, Morgan Stanley boosted its position in Dollar General by 26.9% in the 2nd quarter. Morgan Stanley now owns 2,069,037 shares of the company’s stock valued at $204,006,000 after buying an additional 438,596 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Robert D. Ravener sold 22,440 shares of Dollar General stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $111.49, for a total value of $2,501,835.60. Following the completion of the sale, the executive vice president now directly owns 50,747 shares in the company, valued at $5,657,783.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert D. Ravener sold 10,000 shares of Dollar General stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $100.03, for a total transaction of $1,000,300.00. Following the completion of the sale, the executive vice president now owns 38,307 shares of the company’s stock, valued at $3,831,849.21. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
A number of research firms have recently weighed in on DG. Credit Suisse Group set a $108.00 price target on Dollar General and gave the company a “hold” rating in a research note on Sunday, September 2nd. Morgan Stanley increased their price target on Dollar General from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, August 31st. Deutsche Bank increased their price target on Dollar General from $123.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Loop Capital increased their price target on Dollar General from $97.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 30th. Finally, Wells Fargo & Co increased their price target on Dollar General from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Dollar General currently has an average rating of “Buy” and an average price target of $103.33.
Shares of NYSE DG opened at $108.91 on Monday. Dollar General Corp. has a fifty-two week low of $76.13 and a fifty-two week high of $112.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.21. The stock has a market capitalization of $29.39 billion, a PE ratio of 24.26, a P/E/G ratio of 1.33 and a beta of 0.94.
Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, August 30th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Dollar General had a return on equity of 23.51% and a net margin of 7.06%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the company posted $1.10 earnings per share. Dollar General’s quarterly revenue was up 10.6% on a year-over-year basis. sell-side analysts forecast that Dollar General Corp. will post 6.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, October 5th. Dollar General’s payout ratio is currently 25.84%.
Dollar General 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, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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