TD Asset Management Inc Has $7.31 Million Stake in Dollar General Corporation (NYSE:DG)

Key Points

• TD Asset Management Inc has reduced its stake in Dollar General by 56.1%, now owning 83,104 shares valued at about $7.3 million after selling 106,104 shares in the first quarter.
• Dollar General's stock price is currently around $104.89, with a market capitalization of $23.08 billion, and recent earnings exceeded estimates with an EBITDA of $1.78 per share.
• The company announced a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 2.2% and a payout ratio of about 45.04%.

TD Asset Management Inc lessened its position in shares of Dollar General Corporation (NYSE:DG - Free Report) by 56.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,104 shares of the company's stock after selling 106,104 shares during the quarter. TD Asset Management Inc's holdings in Dollar General were worth $7,307,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP Kathleen A. Reardon sold 6,438 shares of the 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 completion of the sale, the executive vice president directly owned 41,646 shares of the company's stock, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Emily C. Taylor sold 1,969 shares of the 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 directly owned 46,563 shares of the company's stock, 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 corporate insiders.

Dollar General Trading Up 3.5%

Dollar General stock traded up $3.64 during midday trading on Friday, reaching $108.54. The stock had a trading volume of 4,216,646 shares, compared to its average volume of 2,494,283. The firm's fifty day simple moving average is $110.15 and its two-hundred day simple moving average is $92.55. The firm has a market cap of $23.89 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.23 and a quick ratio of 0.20. Dollar General Corporation has a twelve month low of $66.43 and a twelve month high of $126.98.

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

Dollar General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, July 8th. Dollar General's dividend payout ratio is currently 45.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DG shares. Piper Sandler raised their price target on Dollar General from $112.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Citigroup raised their price target on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Barclays raised their price target on Dollar General from $100.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Cfra Research raised Dollar General to a "hold" rating in a report on Tuesday, June 3rd. Finally, The Goldman Sachs Group downgraded Dollar General from a "buy" rating to a "neutral" rating and upped their target price for the stock from $115.00 to $116.00 in a research report on Tuesday, June 24th. Sixteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $108.40.

Dollar General 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.