Brown Advisory Inc. reduced its stake in Dollar General Corp. (NYSE:DG) by 13.7% in the first quarter, HoldingsChannel.com reports. The fund owned 102,699 shares of the company’s stock after selling 16,346 shares during the quarter. Brown Advisory Inc.’s holdings in Dollar General were worth $9,608,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd lifted its stake in Dollar General by 49.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 9,281 shares of the company’s stock valued at $868,000 after purchasing an additional 3,081 shares during the last quarter. Trust Investment Advisors lifted its stake in Dollar General by 8.9% during the first quarter. Trust Investment Advisors now owns 10,100 shares of the company’s stock valued at $945,000 after purchasing an additional 825 shares during the last quarter. Amalgamated Bank lifted its stake in Dollar General by 2.4% during the first quarter. Amalgamated Bank now owns 35,946 shares of the company’s stock valued at $3,363,000 after purchasing an additional 837 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Dollar General by 24.3% during the first quarter. Summit Trail Advisors LLC now owns 45,537 shares of the company’s stock valued at $3,051,000 after purchasing an additional 8,908 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Dollar General by 1.6% during the first quarter. Principal Financial Group Inc. now owns 1,878,888 shares of the company’s stock valued at $175,770,000 after purchasing an additional 29,691 shares during the last quarter. 91.72% of the stock is owned by institutional investors.
In other news, CAO Anita C. Elliott sold 1,892 shares of the stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $95.75, for a total transaction of $181,159.00. Following the transaction, the chief accounting officer now owns 14,313 shares in the company, valued at approximately $1,370,469.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert D. Ravener sold 9,874 shares of the stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $100.62, for a total transaction of $993,521.88. Following the transaction, the executive vice president now owns 28,307 shares in the company, valued at approximately $2,848,250.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,766 shares of company stock worth $2,477,591. 0.41% of the stock is currently owned by company insiders.
Several brokerages recently commented on DG. JPMorgan Chase & Co. upgraded shares of Dollar General from a “neutral” rating to an “overweight” rating and set a $70.00 price target for the company in a research report on Tuesday, April 17th. Northcoast Research restated a “neutral” rating on shares of Dollar General in a research report on Tuesday, June 26th. Morgan Stanley set a $122.00 price target on shares of Dollar General and gave the company a “buy” rating in a research report on Wednesday, April 25th. Buckingham Research reduced their price target on shares of Dollar General from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, June 1st. Finally, Credit Suisse Group began coverage on shares of Dollar General in a research report on Tuesday, April 17th. They issued a “neutral” rating and a $103.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Dollar General currently has an average rating of “Buy” and an average target price of $96.73.
Dollar General stock opened at $98.10 on Wednesday. The company has a market capitalization of $26.38 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.10 and a beta of 0.95. The company has a current ratio of 1.65, a quick ratio of 0.23 and a debt-to-equity ratio of 0.46. Dollar General Corp. has a twelve month low of $68.69 and a twelve month high of $105.82.
Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, May 31st. The company reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.04). The company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.18 billion. Dollar General had a net margin of 6.77% and a return on equity of 22.40%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. equities research analysts forecast that Dollar General Corp. will post 6.06 earnings per share for the current year.
Dollar General declared that its Board of Directors has approved a stock buyback program on Thursday, March 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 24th. Shareholders of record on Tuesday, July 10th will be paid a $0.29 dividend. The ex-dividend date is Monday, July 9th. This represents a $1.16 annualized dividend and a yield of 1.18%. Dollar General’s dividend payout ratio is presently 25.84%.
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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