Forsta AP Fonden Sells 5,500 Shares of Dollar General Corporation (NYSE:DG)

Key Points

• Forsta AP Fonden reduced its stake in Dollar General by 11.6%, selling 5,500 shares and now holding 42,000 shares valued at approximately $3.69 million.
• Dollar General reported earnings per share of $1.78 for the quarter, exceeding estimates, and had revenues of $10.44 billion, up 5.3% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 2.1%.

Forsta AP Fonden lessened its stake in shares of Dollar General Corporation (NYSE:DG - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,000 shares of the company's stock after selling 5,500 shares during the quarter. Forsta AP Fonden's holdings in Dollar General were worth $3,693,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Studio Investment Management LLC lifted its position in shares of Dollar General by 16.4% in the 4th quarter. Studio Investment Management LLC now owns 989 shares of the company's stock worth $75,000 after acquiring an additional 139 shares during the period. Eagle Rock Investment Company LLC lifted its position in shares of Dollar General by 0.5% in the 1st quarter. Eagle Rock Investment Company LLC now owns 28,983 shares of the company's stock worth $2,548,000 after acquiring an additional 156 shares during the period. CVA Family Office LLC lifted its position in shares of Dollar General by 39.4% in the 1st quarter. CVA Family Office LLC now owns 570 shares of the company's stock worth $50,000 after acquiring an additional 161 shares during the period. Allworth Financial LP lifted its position in shares of Dollar General by 12.1% in the 1st quarter. Allworth Financial LP now owns 1,519 shares of the company's stock worth $142,000 after acquiring an additional 164 shares during the period. Finally, Bogart Wealth LLC raised its holdings in shares of Dollar General by 37.6% in the 1st quarter. Bogart Wealth LLC now owns 674 shares of the company's stock worth $59,000 after buying an additional 184 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

Insider Transactions at Dollar General

In related news, EVP Emily C. Taylor sold 1,969 shares of Dollar General 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 sale, the executive vice president owned 46,563 shares of the company's stock, valued at approximately $5,261,619. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Dollar General from $85.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on Dollar General from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Oppenheimer upgraded Dollar General from a "market perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a research report on Wednesday, June 4th. Citigroup increased their price objective on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Cfra Research upgraded Dollar General to a "hold" rating in a research report on Tuesday, June 3rd. Sixteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $108.80.

Dollar General Stock Up 0.6%

Shares of Dollar General stock traded up $0.64 during trading on Wednesday, reaching $115.83. The stock had a trading volume of 3,874,824 shares, compared to its average volume of 2,718,018. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.82 and a beta of 0.31. The stock has a fifty day moving average price of $112.08 and a two-hundred day moving average price of $94.81. Dollar General Corporation has a 52 week low of $66.43 and a 52 week high of $126.98. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74.

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

Dollar General Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, July 8th. Dollar General's payout ratio is 45.04%.

Dollar General Company Profile

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.