Copeland Capital Management LLC bought a new stake in Dollar General Corp. (NYSE:DG) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 57,944 shares of the company’s stock, valued at approximately $6,333,000.
A number of other institutional investors also recently modified their holdings of DG. Community Bank N.A. increased its stake in shares of Dollar General by 240.2% during the 2nd quarter. Community Bank N.A. now owns 1,657 shares of the company’s stock worth $164,000 after purchasing an additional 1,170 shares in the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Dollar General during the 3rd quarter worth approximately $173,000. Steward Partners Investment Advisory LLC increased its stake in shares of Dollar General by 50.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,784 shares of the company’s stock worth $176,000 after purchasing an additional 596 shares in the last quarter. Financial Counselors Inc. purchased a new position in shares of Dollar General during the 3rd quarter worth approximately $201,000. Finally, Synovus Financial Corp increased its stake in shares of Dollar General by 73.2% during the 3rd quarter. Synovus Financial Corp now owns 1,826 shares of the company’s stock worth $201,000 after purchasing an additional 772 shares in the last quarter. 95.48% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on DG. Morgan Stanley raised their price objective on shares of Dollar General from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, August 31st. Credit Suisse Group set a $99.00 price objective on shares of Dollar General and gave the stock a “hold” rating in a research note on Monday, August 27th. Guggenheim reissued a “buy” rating and set a $115.00 price objective on shares of Dollar General in a research note on Monday, August 20th. Wells Fargo & Co raised their price objective on shares of Dollar General from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Finally, ValuEngine raised shares of Dollar General from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $106.35.
In related news, EVP Robert D. Ravener sold 22,440 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $111.49, for a total transaction of $2,501,835.60. Following the sale, the executive vice president now owns 50,747 shares in the company, valued at $5,657,783.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.
Shares of NYSE DG opened at $114.09 on Tuesday. Dollar General Corp. has a 1 year low of $79.79 and a 1 year high of $114.66. The company has a market cap of $29.77 billion, a P/E ratio of 21.00, a PEG ratio of 1.35 and a beta of 0.82. The company has a current ratio of 1.55, a quick ratio of 0.21 and a debt-to-equity ratio of 0.44.
Dollar General (NYSE:DG) last announced its earnings results on Thursday, August 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.03. Dollar General had a net margin of 7.06% and a return on equity of 23.51%. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the business earned $1.10 earnings per share. Dollar General’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Dollar General Corp. will post 6.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.16 dividend on an annualized basis and a yield of 1.02%. Dollar General’s dividend payout ratio (DPR) is currently 25.84%.
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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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