Tandem Investment Advisors Inc. cut its position in Dollar General Corp. (NYSE:DG) by 20.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,428 shares of the company’s stock after selling 41,552 shares during the quarter. Dollar General makes up approximately 4.0% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Tandem Investment Advisors Inc. owned about 0.06% of Dollar General worth $29,992,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Dollar General by 126.1% during the first quarter. Capital World Investors now owns 11,081,796 shares of the company’s stock valued at $1,673,462,000 after acquiring an additional 6,181,380 shares in the last quarter. Wellington Management Group LLP boosted its position in Dollar General by 25,893.6% in the first quarter. Wellington Management Group LLP now owns 1,682,566 shares of the company’s stock valued at $254,085,000 after buying an additional 1,676,093 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Dollar General by 398,765.3% in the first quarter. 1832 Asset Management L.P. now owns 977,220 shares of the company’s stock valued at $144,431,000 after buying an additional 976,975 shares during the last quarter. Schroder Investment Management Group boosted its position in Dollar General by 308.6% in the first quarter. Schroder Investment Management Group now owns 1,179,125 shares of the company’s stock valued at $200,038,000 after buying an additional 890,574 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. purchased a new stake in Dollar General in the first quarter valued at approximately $21,940,000. Institutional investors and hedge funds own 92.66% of the company’s stock.
DG has been the topic of several recent research reports. Zacks Investment Research upgraded Dollar General from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research report on Monday, May 18th. KeyCorp increased their target price on Dollar General from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Morgan Stanley increased their target price on Dollar General from $218.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Raymond James increased their target price on Dollar General from $205.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 29th. Finally, UBS Group increased their price objective on Dollar General from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. Dollar General presently has an average rating of “Buy” and an average target price of $196.21.
Dollar General (NYSE:DG) last announced its earnings results on Thursday, May 28th. The company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.86. Dollar General had a net margin of 6.69% and a return on equity of 29.33%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the firm earned $1.48 EPS. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, research analysts expect that Dollar General Corp. will post 8.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, July 6th. Dollar General’s payout ratio is 21.40%.
In other news, CAO Anita C. Elliott sold 11,032 shares of the company’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $192.77, for a total value of $2,126,638.64. Following the completion of the transaction, the chief accounting officer now owns 15,158 shares in the company, valued at approximately $2,922,007.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Carman R. Wenkoff sold 7,300 shares of the stock in a transaction on Wednesday, June 10th. The stock was 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 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. In the last 90 days, insiders sold 59,645 shares of company stock valued at $11,414,046. Company 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 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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