DNB Asset Management AS Sells 3,441 Shares of Dollar General Corp. (DG)

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DNB Asset Management AS trimmed its holdings in shares of Dollar General Corp. (NYSE:DG) by 10.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,363 shares of the company’s stock after selling 3,441 shares during the quarter. DNB Asset Management AS’s holdings in Dollar General were worth $3,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Dollar General by 13.9% during the 4th quarter. BlackRock Inc. now owns 22,207,042 shares of the company’s stock valued at $2,400,135,000 after buying an additional 2,709,334 shares in the last quarter. Vanguard Group Inc. raised its position in Dollar General by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,201,573 shares of the company’s stock worth $2,098,732,000 after purchasing an additional 370,008 shares during the period. Vanguard Group Inc raised its position in Dollar General by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 19,201,573 shares of the company’s stock worth $2,098,732,000 after purchasing an additional 370,008 shares during the period. Oregon Public Employees Retirement Fund raised its position in Dollar General by 10,128.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,752,166 shares of the company’s stock worth $90,000 after purchasing an additional 9,656,820 shares during the period. Finally, FMR LLC raised its position in Dollar General by 21.3% in the 4th quarter. FMR LLC now owns 7,274,966 shares of the company’s stock worth $786,278,000 after purchasing an additional 1,278,052 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

DG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Dollar General to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 9th. ValuEngine upgraded shares of Dollar General from a “hold” rating to a “buy” rating in a research note on Wednesday, December 26th. Wells Fargo & Co upped their target price on shares of Dollar General from $118.00 to $129.00 and gave the stock an “outperform” rating in a research note on Friday, January 11th. Oppenheimer upped their target price on shares of Dollar General from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Raymond James set a $127.00 target price on shares of Dollar General and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $119.50.

In related news, EVP Robert D. Ravener sold 38,659 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $119.84, for a total transaction of $4,632,894.56. Following the completion of the sale, the executive vice president now owns 39,739 shares of the company’s stock, valued at $4,762,321.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rhonda Taylor sold 16,636 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $119.64, for a total transaction of $1,990,331.04. Following the completion of the transaction, the executive vice president now directly owns 33,513 shares of the company’s stock, valued at approximately $4,009,495.32. The disclosure for this sale can be found here. Insiders have sold 134,282 shares of company stock valued at $15,926,314 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

NYSE:DG opened at $122.38 on Monday. Dollar General Corp. has a 52 week low of $86.87 and a 52 week high of $123.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.55 and a quick ratio of 0.19. The company has a market cap of $31.73 billion, a P/E ratio of 20.50, a PEG ratio of 1.53 and a beta of 0.71.

Dollar General (NYSE:DG) last posted its earnings results on Thursday, March 14th. The company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($0.05). Dollar General had a net margin of 6.20% and a return on equity of 25.04%. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the previous year, the company earned $1.48 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Dollar General Corp. will post 6.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Tuesday, April 9th will be given a dividend of $0.32 per share. This is a boost from Dollar General’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Dollar General’s dividend payout ratio is presently 21.44%.

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About Dollar General

Dollar General Corp. engages in retailing of merchandise, including consumables, seasonal, home products, and apparel. Its brands include Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J. L.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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