12th Street Asset Management Company LLC cut its holdings in shares of Dollar General Corp. (NYSE:DG) by 24.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 264,593 shares of the company’s stock after selling 84,111 shares during the quarter. Dollar General accounts for about 6.9% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 6th largest holding. 12th Street Asset Management Company LLC owned 0.10% of Dollar General worth $28,921,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Dollar General by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,878,888 shares of the company’s stock worth $175,770,000 after purchasing an additional 29,691 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Dollar General by 45.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 12,365 shares of the company’s stock worth $1,219,000 after buying an additional 3,839 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of Dollar General by 456.5% in the 2nd quarter. CENTRAL TRUST Co now owns 3,968 shares of the company’s stock worth $391,000 after buying an additional 3,255 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Dollar General by 52.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 48,260 shares of the company’s stock worth $4,758,000 after buying an additional 16,670 shares during the last quarter. Finally, Community Bank N.A. increased its holdings in shares of Dollar General by 240.2% in the 2nd quarter. Community Bank N.A. now owns 1,657 shares of the company’s stock worth $164,000 after buying an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.
A number of analysts have recently weighed in on DG shares. Guggenheim restated a “buy” rating and issued a $115.00 target price on shares of Dollar General in a report on Monday, August 20th. ValuEngine upgraded shares of Dollar General from a “hold” rating to a “buy” rating in a report on Saturday, August 18th. Zacks Investment Research upgraded shares of Dollar General from a “sell” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, August 14th. MKM Partners boosted their target price on shares of Dollar General to $117.00 and gave the stock a “buy” rating in a report on Tuesday, August 28th. Finally, Deutsche Bank boosted their target price on shares of Dollar General from $123.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Dollar General currently has an average rating of “Buy” and a consensus price target of $106.35.
Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.38 billion. Dollar General had a net margin of 7.06% and a return on equity of 23.51%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. On average, equities analysts forecast that Dollar General Corp. will post 6.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were given a $0.29 dividend. The ex-dividend date was Friday, October 5th. This represents a $1.16 annualized dividend and a yield of 0.99%. Dollar General’s dividend payout ratio (DPR) is 25.84%.
In other Dollar General news, EVP Robert D. Ravener sold 22,440 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 50,747 shares of the company’s stock, valued at approximately $5,657,783.03. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by insiders.
About Dollar General
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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