Cary Street Partners Investment Advisory LLC cut its stake in Dollar General Co. (NYSE:DG – Free Report) by 90.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,648 shares of the company’s stock after selling 24,300 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Dollar General were worth $450,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in DG. First Manhattan Co. increased its position in Dollar General by 447.4% in the 4th quarter. First Manhattan Co. now owns 104 shares of the company’s stock valued at $26,000 after acquiring an additional 85 shares during the period. Financial Freedom LLC acquired a new position in shares of Dollar General during the fourth quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Dollar General during the first quarter valued at about $28,000. Atlas Capital Advisors LLC acquired a new stake in Dollar General in the second quarter worth about $32,000. Finally, Goldstream Capital Management Ltd bought a new position in Dollar General in the 1st quarter valued at about $44,000. 90.37% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
DG has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Dollar General from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, October 13th. Barclays decreased their price target on Dollar General from $165.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, September 1st. Loop Capital dropped their price objective on Dollar General from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, October 16th. Oppenheimer lowered Dollar General from an “outperform” rating to a “market perform” rating in a report on Thursday, August 31st. Finally, BMO Capital Markets lowered their target price on Dollar General from $175.00 to $135.00 and set a “market perform” rating on the stock in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $144.04.
Insider Transactions at Dollar General
In other news, EVP Carman R. Wenkoff purchased 2,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was acquired at an average price of $106.25 per share, with a total value of $212,500.00. Following the purchase, the executive vice president now owns 30,966 shares in the company, valued at approximately $3,290,137.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.
Dollar General Price Performance
NYSE DG opened at $121.78 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.39 and a quick ratio of 0.15. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 2.28 and a beta of 0.37. The company has a 50 day simple moving average of $114.01 and a 200-day simple moving average of $151.13. Dollar General Co. has a 52-week low of $101.09 and a 52-week high of $260.07.
Dollar General (NYSE:DG – Get Free Report) last released its earnings results on Thursday, August 31st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.34). Dollar General had a return on equity of 36.34% and a net margin of 5.59%. The company had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.93 billion. During the same quarter in the previous year, the company earned $2.98 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that Dollar General Co. will post 7.44 earnings per share for the current fiscal year.
Dollar General Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, October 6th. Dollar General’s payout ratio is currently 24.18%.
About Dollar General
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits 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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