Patten Group Inc. boosted its holdings in Dollar General Corp. (NYSE:DG) by 11.0% in the first quarter, Holdings Channel reports. The firm owned 4,889 shares of the company’s stock after purchasing an additional 485 shares during the period. Patten Group Inc.’s holdings in Dollar General were worth $583,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of DG. Vanguard Group Inc boosted its holdings in shares of Dollar General by 2.0% in the third quarter. Vanguard Group Inc now owns 19,201,573 shares of the company’s stock worth $2,098,732,000 after buying an additional 370,008 shares during the last quarter. Advisors Asset Management Inc. boosted 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 worth $487,000 after buying an additional 430 shares during the last quarter. Dupont Capital Management Corp boosted 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 worth $331,000 after buying an additional 789 shares during the last quarter. Buckingham Capital Management Inc. boosted 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 worth $4,548,000 after buying an additional 2,886 shares during the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Dollar General in the fourth quarter worth approximately $68,000. 95.15% of the stock is owned by hedge funds and other institutional investors.
DG has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of Dollar General from $118.00 to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Loop Capital raised shares of Dollar General from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $152.00 in a report on Tuesday, April 30th. Oppenheimer lifted their price target on shares of Dollar General from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Raymond James set a $127.00 price target on shares of Dollar General and gave the company a “buy” rating in a report on Tuesday, February 26th. Finally, Evercore ISI assumed coverage on shares of Dollar General in a report on Wednesday, March 20th. They set an “underperform” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $132.05.
Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, May 30th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Dollar General had a net margin of 6.16% and a return on equity of 25.03%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. On average, sell-side analysts anticipate that Dollar General Corp. will post 6.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Monday, July 8th. Dollar General’s payout ratio is currently 21.44%.
In other news, EVP Robert D. Ravener sold 78,987 shares of Dollar General stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $117.78, for a total transaction of $9,303,088.86. Following the sale, the executive vice president now owns 62,434 shares in the company, valued at $7,353,476.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Rhonda Taylor sold 16,636 shares of Dollar General stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $119.64, for a total transaction of $1,990,331.04. Following the sale, the executive vice president now owns 33,513 shares in the company, valued at approximately $4,009,495.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,255 shares of company stock worth $17,037,351. Company insiders own 0.55% of the company’s stock.
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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