New York State Teachers Retirement System decreased its stake in shares of Dollar General Corporation (NYSE:DG - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,964 shares of the company's stock after selling 14,202 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Dollar General worth $16,264,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Dollar General by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,231,285 shares of the company's stock worth $1,913,036,000 after purchasing an additional 160,853 shares during the last quarter. Pzena Investment Management LLC increased its stake in Dollar General by 14.9% during the 4th quarter. Pzena Investment Management LLC now owns 11,767,336 shares of the company's stock valued at $892,199,000 after purchasing an additional 1,528,450 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 buying an additional 118,204 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Dollar General in the fourth quarter worth approximately $399,433,000. Finally, Invesco Ltd. grew its holdings in shares of Dollar General by 32.1% during the fourth quarter. Invesco Ltd. now owns 3,380,501 shares of the company's stock valued at $256,310,000 after buying an additional 821,608 shares during the last quarter. 91.77% of the stock is owned by institutional investors.
Insider Activity at Dollar General
In related news, EVP Kathleen A. Reardon sold 6,438 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $111.56, for a total transaction of $718,223.28. Following the completion of the transaction, the executive vice president owned 41,646 shares in the company, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Emily C. Taylor sold 1,969 shares of Dollar General stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total transaction of $222,497.00. Following the completion of the sale, the executive vice president owned 46,563 shares in the company, valued at approximately $5,261,619. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently issued reports on DG. Loop Capital upped their price objective on Dollar General from $80.00 to $110.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. Bank of America upped their price target on Dollar General from $115.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Sanford C. Bernstein set a $120.00 price objective on Dollar General in a report on Friday, May 23rd. Citigroup upped their target price on shares of Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Melius Research raised shares of Dollar General from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Sixteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $109.08.
Check Out Our Latest Stock Analysis on DG
Dollar General Price Performance
Shares of DG traded down $1.16 during mid-day trading on Friday, reaching $114.31. The stock had a trading volume of 2,041,983 shares, compared to its average volume of 4,095,665. The business has a fifty day moving average of $103.68 and a 200 day moving average of $87.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23. The firm has a market cap of $25.16 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.80 and a beta of 0.31. Dollar General Corporation has a 12 month low of $66.43 and a 12 month high of $135.46.
Dollar General (NYSE:DG - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.32. Dollar General had a net margin of 2.81% and a return on equity of 17.93%. The company had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.25 billion. During the same quarter in the previous year, the company earned $1.65 EPS. Dollar General's revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Dollar General Corporation will post 5.75 EPS for the current year.
Dollar General Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Tuesday, July 8th. Dollar General's dividend payout ratio is currently 45.04%.
Dollar General Company Profile
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Free Report)
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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