ZWJ Investment Counsel Inc. lessened its stake in Dollar General Corp. (NYSE:DG) by 19.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 198,138 shares of the company’s stock after selling 47,607 shares during the quarter. Dollar General comprises 1.9% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 21st largest holding. ZWJ Investment Counsel Inc.’s holdings in Dollar General were worth $23,638,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of DG. Vanguard Group Inc raised its stake in Dollar General by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 19,201,573 shares of the company’s stock worth $2,098,732,000 after acquiring an additional 370,008 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Dollar General by 10.5% in the fourth quarter. Advisors Asset Management Inc. now owns 4,508 shares of the company’s stock valued at $487,000 after purchasing an additional 430 shares in the last quarter. Dupont Capital Management Corp grew its holdings in shares of Dollar General by 34.7% in the fourth quarter. Dupont Capital Management Corp now owns 3,062 shares of the company’s stock valued at $331,000 after purchasing an additional 789 shares in the last quarter. Buckingham Capital Management Inc. raised its holdings in shares of Dollar General by 7.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 42,081 shares of the company’s stock valued at $4,548,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Comerica Securities Inc. bought a new stake in shares of Dollar General in the fourth quarter valued at about $511,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.
A number of brokerages have recently weighed in on DG. Telsey Advisory Group restated an “outperform” rating and set a $126.00 price target on shares of Dollar General in a research note on Thursday, March 14th. Zacks Investment Research upgraded Dollar General from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Wednesday, May 22nd. Morgan Stanley lifted their target price on shares of Dollar General from $129.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Raymond James set a $127.00 price target on shares of Dollar General and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Barclays raised shares of Dollar General from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $102.00 to $125.00 in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $133.00.
DG opened at $135.69 on Monday. Dollar General Corp. has a 52-week low of $95.92 and a 52-week high of $137.35. The company has a quick ratio of 0.12, a current ratio of 1.16 and a debt-to-equity ratio of 1.52. The stock has a market cap of $35.05 billion, a PE ratio of 22.73, a P/E/G ratio of 1.92 and a beta of 0.68.
Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, May 30th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.57 billion. Dollar General had a return on equity of 25.03% and a net margin of 6.16%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, equities research analysts forecast that Dollar General Corp. will post 6.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.94%. Dollar General’s payout ratio is presently 21.44%.
In other news, EVP Robert D. Ravener sold 78,987 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $117.78, for a total value of $9,303,088.86. Following the transaction, the executive vice president now owns 62,434 shares of the company’s stock, valued at approximately $7,353,476.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Ravener sold 8,973 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $123.82, for a total value of $1,111,036.86. Following the completion of the transaction, the executive vice president now directly owns 17,794 shares in the company, valued at approximately $2,203,253.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,255 shares of company stock worth $17,037,351. 0.55% of the stock is owned by corporate insiders.
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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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