Bank of New York Mellon Corp Sells 24,532 Shares of Dollar General Corporation (NYSE:DG)

Bank of New York Mellon Corp cut its position in shares of Dollar General Corporation (NYSE:DG - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,239,534 shares of the company's stock after selling 24,532 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of Dollar General worth $108,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Dollar General by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,231,285 shares of the company's stock valued at $1,913,036,000 after buying an additional 160,853 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dollar General by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 5,361,216 shares of the company's stock worth $405,425,000 after purchasing an additional 118,204 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Dollar General in the fourth quarter worth $399,433,000. Invesco Ltd. raised its stake in shares of Dollar General by 32.1% in the fourth quarter. Invesco Ltd. now owns 3,380,501 shares of the company's stock worth $256,310,000 after purchasing an additional 821,608 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Dollar General by 323.1% in the fourth quarter. Two Sigma Investments LP now owns 2,354,135 shares of the company's stock worth $178,491,000 after purchasing an additional 1,797,776 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on DG shares. UBS Group upped their price objective on Dollar General from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Cfra Research upgraded Dollar General to a "hold" rating in a research report on Tuesday, June 3rd. Citigroup upped their price target on Dollar General from $101.00 to $112.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Melius upgraded Dollar General from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley upped their price target on Dollar General from $85.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $109.08.

Insider Transactions at Dollar General

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $111.56, for a total value of $718,223.28. Following the sale, the executive vice president owned 41,646 shares in the company, valued at $4,646,027.76. This represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $113.00, for a total value of $222,497.00. Following the completion of the sale, the executive vice president owned 46,563 shares in the company, valued at $5,261,619. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

Dollar General Trading Down 0.4%

DG opened at $112.19 on Thursday. Dollar General Corporation has a 52 week low of $66.43 and a 52 week high of $135.46. The stock's fifty day moving average is $104.91 and its two-hundred day moving average is $88.25. The company has a market capitalization of $24.69 billion, a P/E ratio of 21.41, a PEG ratio of 2.76 and a beta of 0.31. The company has a quick ratio of 0.20, a current ratio of 1.23 and a debt-to-equity ratio of 0.74.

Dollar General (NYSE:DG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.32. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. The business had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same period last year, the business posted $1.65 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Dollar General Corporation will post 5.75 earnings per share for the current year.

Dollar General Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.10%. Dollar General's dividend payout ratio is currently 45.04%.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits 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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