Dollar General Corp. (DG) Stake Lessened by MetLife Investment Advisors LLC
MetLife Investment Advisors LLC lowered its stake in shares of Dollar General Corp. (NYSE:DG) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,825 shares of the company’s stock after selling 2,813 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Dollar General were worth $7,378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Community Bank N.A. boosted its position in Dollar General by 240.2% in the second quarter. Community Bank N.A. now owns 1,657 shares of the company’s stock valued at $164,000 after buying an additional 1,170 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Dollar General by 50.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,784 shares of the company’s stock valued at $176,000 after buying an additional 596 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Dollar General in the first quarter valued at approximately $202,000. Checchi Capital Advisers LLC purchased a new stake in Dollar General in the second quarter valued at approximately $205,000. Finally, Peapack Gladstone Financial Corp purchased a new stake in Dollar General in the first quarter valued at approximately $209,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
In related news, EVP Robert D. Ravener sold 10,000 shares of the stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $100.03, for a total value of $1,000,300.00. Following the completion of the transaction, the executive vice president now directly owns 38,307 shares of the company’s stock, valued at approximately $3,831,849.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert D. Ravener sold 22,440 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $111.49, for a total value of $2,501,835.60. Following the completion of the transaction, the executive vice president now directly owns 50,747 shares of the company’s stock, valued at $5,657,783.03. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
Dollar General (NYSE:DG) last announced its earnings results on Thursday, August 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Dollar General had a return on equity of 23.51% and a net margin of 7.06%. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was up 10.6% on a year-over-year basis. sell-side analysts expect that Dollar General Corp. will post 6.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, October 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. Dollar General’s dividend payout ratio (DPR) is 25.84%.
A number of equities research analysts recently commented on DG shares. Raymond James upgraded Dollar General from an “outperform” rating to a “strong-buy” rating in a research report on Friday, June 22nd. Gordon Haskett upgraded Dollar General from an “accumulate” rating to a “buy” rating and upped their target price for the company from $65.97 to $67.00 in a research report on Monday, June 4th. Loop Capital restated a “hold” rating on shares of Dollar General in a research report on Wednesday, May 30th. Zacks Investment Research upgraded Dollar General from a “sell” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, August 14th. Finally, Wells Fargo & Co upped their price objective on Dollar General from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $103.33.
Dollar General Company Profile
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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