Dollar General Corp. (DG) Stake Reduced by First Mercantile Trust Co.
First Mercantile Trust Co. cut its position in Dollar General Corp. (NYSE:DG) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 8,136 shares of the company’s stock after selling 772 shares during the period. First Mercantile Trust Co.’s holdings in Dollar General Corp. were worth $765,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new stake in Dollar General Corp. during the second quarter worth $200,000. Burns J W & Co. Inc. NY purchased a new stake in Dollar General Corp. during the second quarter worth $203,000. Checchi Capital Advisers LLC boosted its stake in Dollar General Corp. by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 2,219 shares of the company’s stock worth $209,000 after buying an additional 43 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in Dollar General Corp. by 4.2% in the second quarter. Thompson Davis & CO. Inc. now owns 2,222 shares of the company’s stock worth $209,000 after buying an additional 90 shares in the last quarter. Finally, Alpha Windward LLC raised its stake in Dollar General Corp. by 19.5% in the second quarter. Alpha Windward LLC now owns 2,240 shares of the company’s stock worth $211,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 85.44% of the company’s stock.
Dollar General Corp. (NYSE:DG) opened at 71.72 on Wednesday. The stock’s 50 day moving average is $82.25 and its 200 day moving average is $86.00. The company has a market cap of $20.21 billion, a PE ratio of 16.77 and a beta of 0.63. Dollar General Corp. has a 12 month low of $59.75 and a 12 month high of $96.88.
Dollar General Corp. (NYSE:DG) last issued its earnings results on Thursday, August 25th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.50 billion. Dollar General Corp. had a net margin of 5.86% and a return on equity of 22.95%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. Equities analysts predict that Dollar General Corp. will post $4.50 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, September 12th. Dollar General Corp.’s dividend payout ratio (DPR) is currently 23.42%.
A number of research firms recently issued reports on DG. Deutsche Bank AG lowered Dollar General Corp. from a “buy” rating to a “hold” rating and upped their target price for the company from $95.00 to $99.00 in a research note on Monday, August 1st. They noted that the move was a valuation call. Zacks Investment Research raised Dollar General Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, July 5th. Jefferies Group lowered Dollar General Corp. from a “buy” rating to a “hold” rating and reduced their target price for the company from $101.00 to $96.00 in a research note on Monday, August 15th. They noted that the move was a valuation call. Macquarie reduced their target price on Dollar General Corp. from $98.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, August 25th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $97.00 target price on shares of Dollar General Corp. in a research note on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Dollar General Corp. presently has a consensus rating of “Hold” and a consensus target price of $90.33.
In other Dollar General Corp. news, Director William C. Rhodes III acquired 5,000 shares of Dollar General Corp. stock in a transaction that occurred on Friday, August 26th. The stock was acquired at an average price of $76.30 per share, with a total value of $381,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael M. Calbert acquired 13,000 shares of Dollar General Corp. stock in a transaction that occurred on Tuesday, August 30th. The stock was acquired at an average cost of $75.53 per share, with a total value of $981,890.00. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.
About Dollar General Corp.
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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