Dollar General Corp. (DG) Holdings Increased by Synovus Financial Corp

Synovus Financial Corp grew its holdings in shares of Dollar General Corp. (NYSE:DG) by 73.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,826 shares of the company’s stock after acquiring an additional 772 shares during the period. Synovus Financial Corp’s holdings in Dollar General were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Polen Capital Management LLC grew its holdings in Dollar General by 3.8% during the 2nd quarter. Polen Capital Management LLC now owns 7,012,185 shares of the company’s stock worth $691,401,000 after acquiring an additional 255,240 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Dollar General by 12.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,450,172 shares of the company’s stock worth $635,987,000 after acquiring an additional 711,483 shares during the period. FMR LLC grew its holdings in Dollar General by 10.5% during the 2nd quarter. FMR LLC now owns 5,506,743 shares of the company’s stock worth $542,965,000 after acquiring an additional 523,870 shares during the period. Northern Trust Corp grew its holdings in Dollar General by 4.0% during the 2nd quarter. Northern Trust Corp now owns 3,926,023 shares of the company’s stock worth $387,106,000 after acquiring an additional 151,939 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Dollar General by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,328,481 shares of the company’s stock worth $328,188,000 after acquiring an additional 303,600 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.

In related news, EVP Robert D. Ravener sold 22,440 shares of the firm’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 transaction, the executive vice president now owns 50,747 shares of the company’s stock, valued at approximately $5,657,783.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on DG. Loop Capital increased their price objective on shares of Dollar General from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 30th. Buckingham Research began coverage on shares of Dollar General in a research report on Tuesday, September 25th. They set a “buy” rating and a $125.00 price objective on the stock. ValuEngine raised shares of Dollar General from a “hold” rating to a “buy” rating in a research report on Saturday, August 18th. Zacks Investment Research raised shares of 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 increased their price objective on shares of 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, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $106.35.

Shares of NYSE DG opened at $116.10 on Friday. Dollar General Corp. has a fifty-two week low of $81.10 and a fifty-two week high of $118.45. The stock has a market capitalization of $30.79 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The company has a current ratio of 1.55, a quick ratio of 0.21 and a debt-to-equity ratio of 0.44.

Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, August 30th. The company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.03. Dollar General had a net margin of 7.06% and a return on equity of 23.51%. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Dollar General Corp. will post 6.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.16 annualized dividend and a yield of 1.00%. Dollar General’s payout ratio is 25.84%.

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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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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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