OLD Mutual Customised Solutions Proprietary Ltd. reduced its stake in Dollar General Corp. (NYSE:DG) by 62.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,174 shares of the company’s stock after selling 10,300 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Dollar General were worth $609,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Community Bank N.A. boosted its holdings in shares of Dollar General by 240.2% in the second quarter. Community Bank N.A. now owns 1,657 shares of the company’s stock valued at $164,000 after acquiring an additional 1,170 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of Dollar General by 50.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,784 shares of the company’s stock valued at $176,000 after acquiring an additional 596 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Dollar General in the first quarter valued at approximately $202,000. Checchi Capital Advisers LLC acquired a new stake in shares of Dollar General in the second quarter valued at approximately $205,000. Finally, Peapack Gladstone Financial Corp acquired a new stake in shares of Dollar General in the first quarter valued at approximately $209,000. Institutional investors own 94.99% of the company’s stock.
In other Dollar General news, EVP Robert D. Ravener sold 22,440 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was 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 owns 50,747 shares of the company’s stock, valued at $5,657,783.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert D. Ravener sold 10,000 shares of the firm’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $100.03, for a total value of $1,000,300.00. Following the completion of the sale, the executive vice president now directly owns 38,307 shares of the company’s stock, valued at approximately $3,831,849.21. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.
Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 30th. The company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.03. Dollar General had a return on equity of 23.51% and a net margin of 7.06%. The firm had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts predict that Dollar General Corp. will post 6.1 earnings per share for the current fiscal year.
The business 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, October 5th. Dollar General’s dividend payout ratio is presently 25.84%.
Several research firms have recently weighed in on DG. Zacks Investment Research downgraded Dollar General from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Buckingham Research increased their price objective on Dollar General from $95.00 to $107.00 and gave the company a “neutral” rating in a report on Monday, August 27th. Credit Suisse Group set a $108.00 price objective on Dollar General and gave the company a “hold” rating in a report on Sunday, September 2nd. MKM Partners increased their price objective on Dollar General to $117.00 and gave the company a “buy” rating in a report on Tuesday, August 28th. Finally, Wells Fargo & Co increased their price objective on Dollar General from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Dollar General has an average rating of “Buy” and a consensus price target of $103.33.
About Dollar General
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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