Duncker Streett & Co. Inc. Increases Stock Holdings in Dollar General Co. (NYSE:DG)
Duncker Streett & Co. Inc. grew its position in Dollar General Co. (NYSE:DG) by 31.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,345 shares of the company’s stock after buying an additional 3,225 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Dollar General were worth $2,704,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Dearborn Partners LLC increased its position in shares of Dollar General by 17.0% in the fourth quarter. Dearborn Partners LLC now owns 149,455 shares of the company’s stock valued at $31,431,000 after buying an additional 21,710 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Dollar General by 7.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,717,416 shares of the company’s stock valued at $361,173,000 after buying an additional 113,932 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Dollar General in the first quarter valued at $2,897,000. Leverage Partners Absolute Return Fund SPC purchased a new position in shares of Dollar General in the first quarter valued at $4,025,000. Finally, City Holding Co. increased its position in Dollar General by 4.8% during the 4th quarter. City Holding Co. now owns 19,762 shares of the company’s stock worth $4,156,000 after purchasing an additional 898 shares in the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.
NYSE:DG opened at $216.57 on Tuesday. Dollar General Co. has a 12-month low of $172.67 and a 12-month high of $225.25. The firm has a market capitalization of $51.82 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.28 and a quick ratio of 0.43. The business has a 50 day simple moving average of $205.42 and a 200 day simple moving average of $206.47.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 20th. Investors of record on Tuesday, April 6th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Dollar General’s previous quarterly dividend of $0.36. Dollar General’s payout ratio is currently 24.96%.
Dollar General announced that its Board of Directors has authorized a stock repurchase plan on Thursday, March 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently commented on DG shares. JPMorgan Chase & Co. lifted their price objective on Dollar General from $224.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 24th. KeyCorp dropped their price objective on Dollar General from $235.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, March 25th. Zacks Investment Research upgraded Dollar General from a “hold” rating to a “buy” rating and set a $213.00 price objective for the company in a research report on Monday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $206.00 price objective (down previously from $239.00) on shares of Dollar General in a research report on Thursday, March 25th. Finally, Telsey Advisory Group dropped their price objective on Dollar General from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, March 19th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Dollar General presently has an average rating of “Buy” and an average target price of $230.50.
In related news, CFO John W. Garratt sold 26,127 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $199.35, for a total transaction of $5,208,417.45. Following the completion of the transaction, the chief financial officer now owns 37,088 shares in the company, valued at approximately $7,393,492.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.
Dollar General 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 products; 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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