Arizona State Retirement System Sells 275 Shares of Dollar General Corporation (NYSE:DG)

Arizona State Retirement System lowered its holdings in Dollar General Corporation (NYSE:DG) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,600 shares of the company’s stock after selling 275 shares during the quarter. Arizona State Retirement System’s holdings in Dollar General were worth $5,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Dollar General during the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new stake in Dollar General during the fourth quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in Dollar General during the fourth quarter worth about $31,000. Golden State Wealth Management LLC grew its stake in Dollar General by 170.1% during the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company’s stock worth $48,000 after buying an additional 342 shares during the last quarter. Finally, CVA Family Office LLC grew its stake in Dollar General by 39.4% during the first quarter. CVA Family Office LLC now owns 570 shares of the company’s stock worth $50,000 after buying an additional 161 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DG. Gordon Haskett upgraded shares of Dollar General from a “reduce” rating to an “accumulate” rating in a research report on Tuesday, June 3rd. KeyCorp reiterated a “sector weight” rating on shares of Dollar General in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Dollar General from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Morgan Stanley upped their target price on shares of Dollar General from $85.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Finally, Loop Capital upped their target price on shares of Dollar General from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, July 10th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $109.46.

Dollar General Stock Up 1.2%

Shares of DG stock opened at $114.46 on Tuesday. The firm has a fifty day moving average of $106.25 and a 200-day moving average of $89.24. The company has a quick ratio of 0.20, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. Dollar General Corporation has a 12-month low of $66.43 and a 12-month high of $132.48. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 2.77 and a beta of 0.31.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.32. Dollar General had a net margin of 2.81% and a return on equity of 17.93%. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same period in the previous year, the business earned $1.65 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.06%. Dollar General’s payout ratio is 45.04%.

Insider Transactions at Dollar General

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $111.56, for a total value of $718,223.28. Following the sale, the executive vice president directly owned 41,646 shares of the company’s stock, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total transaction of $222,497.00. Following the completion of the sale, the executive vice president directly owned 46,563 shares in the company, valued at approximately $5,261,619. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

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.