Cornerstone Investment Partners LLC Cuts Holdings in Dollar General Corp. (NYSE:DG)

Cornerstone Investment Partners LLC trimmed its holdings in shares of Dollar General Corp. (NYSE:DG) by 67.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,236 shares of the company’s stock after selling 25,685 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Dollar General were worth $2,331,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Asset Advisory Services LLC purchased a new position in Dollar General in the first quarter worth $529,000. SPF Beheer BV grew its holdings in Dollar General by 12.4% in the first quarter. SPF Beheer BV now owns 658,190 shares of the company’s stock worth $99,393,000 after purchasing an additional 72,389 shares during the last quarter. Franklin Resources Inc. grew its holdings in Dollar General by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 407,324 shares of the company’s stock worth $63,534,000 after purchasing an additional 47,049 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Dollar General by 8.2% in the second quarter. State of Alaska Department of Revenue now owns 78,120 shares of the company’s stock worth $14,882,000 after purchasing an additional 5,914 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in Dollar General by 127.2% in the second quarter. DNB Asset Management AS now owns 382,180 shares of the company’s stock worth $72,809,000 after purchasing an additional 213,991 shares during the last quarter. 92.66% of the stock is currently owned by institutional investors.

In related news, CAO Anita C. Elliott sold 11,032 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $192.77, for a total transaction of $2,126,638.64. Following the completion of the sale, the chief accounting officer now owns 15,158 shares of the company’s stock, valued at approximately $2,922,007.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Carman R. Wenkoff sold 7,300 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $190.13, for a total transaction of $1,387,949.00. Following the sale, the executive vice president now directly owns 12,922 shares of the company’s stock, valued at approximately $2,456,859.86. The disclosure for this sale can be found here. Insiders have sold 59,645 shares of company stock valued at $11,414,046 in the last three months. Corporate insiders own 0.72% of the company’s stock.

DG has been the topic of several analyst reports. Edward Jones lowered shares of Dollar General from a “buy” rating to a “hold” rating in a report on Tuesday, April 14th. Zacks Investment Research upgraded shares of Dollar General from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research note on Monday, May 18th. Credit Suisse Group reiterated a “hold” rating on shares of Dollar General in a research note on Monday, May 25th. Deutsche Bank lifted their price objective on shares of Dollar General from $159.00 to $187.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. Finally, Loop Capital lifted their price objective on shares of Dollar General from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 1st. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $196.21.

Shares of DG stock traded down $0.92 on Friday, reaching $190.40. 1,333,188 shares of the company were exchanged, compared to its average volume of 1,518,998. The company has a market cap of $47.93 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.72 and a beta of 0.53. The business has a 50-day moving average price of $189.51 and a 200 day moving average price of $171.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.60 and a current ratio of 1.44. Dollar General Corp. has a 1 year low of $125.00 and a 1 year high of $195.82.

Dollar General (NYSE:DG) last released its earnings results on Thursday, May 28th. The company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.86. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Dollar General had a net margin of 6.69% and a return on equity of 29.33%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.48 earnings per share. As a group, equities analysts anticipate that Dollar General Corp. will post 8.87 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, July 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.76%. Dollar General’s dividend payout ratio is currently 21.40%.

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 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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