State Board of Administration of Florida Retirement System lowered its stake in Dollar General Corp. (NYSE:DG) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 369,587 shares of the company’s stock after selling 4,220 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Dollar General were worth $70,410,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Coastline Trust Co acquired a new stake in Dollar General in the 2nd quarter valued at about $206,000. Virtu Financial LLC acquired a new stake in Dollar General in the 2nd quarter valued at about $1,046,000. Rafferty Asset Management LLC acquired a new stake in Dollar General in the 2nd quarter valued at about $363,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Dollar General in the 2nd quarter valued at about $2,588,000. Finally, Northwest Bancshares Inc. raised its position in Dollar General by 2.9% in the 2nd quarter. Northwest Bancshares Inc. now owns 21,225 shares of the company’s stock valued at $4,043,000 after purchasing an additional 605 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Dollar General from $218.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Zacks Investment Research upgraded Dollar General from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a report on Monday, May 18th. UBS Group increased their price objective on Dollar General from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on Dollar General from $202.00 to $218.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Oppenheimer increased their price objective on Dollar General from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $197.38.
In other news, EVP Carman R. Wenkoff sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $190.13, for a total value of $1,387,949.00. Following the completion of the sale, the executive vice president now directly owns 12,922 shares of the company’s stock, valued at approximately $2,456,859.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rhonda Taylor sold 41,313 shares of Dollar General stock in a transaction on Friday, May 29th. The stock was sold at an average price of $191.21, for a total value of $7,899,458.73. Following the transaction, the executive vice president now directly owns 36,432 shares of the company’s stock, valued at $6,966,162.72. The disclosure for this sale can be found here. Insiders sold a total of 59,645 shares of company stock valued at $11,414,046 over the last three months. Insiders own 0.72% of the company’s stock.
Shares of DG stock traded down $1.84 during midday trading on Thursday, hitting $198.29. The company had a trading volume of 50,113 shares, compared to its average volume of 1,566,939. The company’s 50 day simple moving average is $191.76 and its 200 day simple moving average is $175.14. Dollar General Corp. has a 52-week low of $125.00 and a 52-week high of $202.27. The stock has a market cap of $49.84 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.78 and a beta of 0.52. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.44 and a quick ratio of 0.60.
Dollar General (NYSE:DG) last announced its earnings results on Thursday, May 28th. The company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.86. Dollar General had a return on equity of 29.33% and a net margin of 6.69%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the business posted $1.48 EPS. The company’s revenue was up 27.6% on a year-over-year basis. Analysts anticipate that Dollar General Corp. will post 8.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. Dollar General’s dividend payout ratio is currently 21.40%.
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, 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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