Dollar General Corporation (NYSE:DG) Shares Purchased by US Bancorp DE

Key Points

• US Bancorp DE increased its investment in Dollar General by 34.8%, holding 21,581 shares worth approximately $1.9 million.
• Dollar General reported a net margin of 2.81% and earnings per share of $1.78 for its latest quarter, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.59 per share, reflecting an annualized yield of 2.0% and a payout ratio of 45.04%.

US Bancorp DE increased its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 34.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,581 shares of the company's stock after acquiring an additional 5,567 shares during the quarter. US Bancorp DE's holdings in Dollar General were worth $1,898,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Dollar General by 4.5% during the fourth quarter. Wellington Management Group LLP now owns 32,507 shares of the company's stock valued at $2,465,000 after buying an additional 1,410 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Dollar General during the fourth quarter valued at about $606,000. Envestnet Asset Management Inc. lifted its position in shares of Dollar General by 157.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 755,715 shares of the company's stock valued at $57,298,000 after buying an additional 461,900 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Dollar General by 9.8% during the fourth quarter. Federated Hermes Inc. now owns 2,159 shares of the company's stock valued at $164,000 after buying an additional 192 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Dollar General by 13.4% during the fourth quarter. Cerity Partners LLC now owns 35,403 shares of the company's stock valued at $2,772,000 after buying an additional 4,192 shares during the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

Dollar General Price Performance

DG traded up $0.68 on Friday, hitting $116.31. 2,424,637 shares of the company's stock were exchanged, compared to its average volume of 2,674,854. Dollar General Corporation has a fifty-two week low of $66.43 and a fifty-two 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. The firm has a 50-day moving average price of $111.60 and a 200-day moving average price of $94.07. The stock has a market cap of $25.60 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 2.85 and a beta of 0.31.

Dollar General (NYSE:DG - Get Free Report) last announced its earnings results 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. 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 posted $1.65 EPS. The firm's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Dollar General Corporation will post 5.75 earnings per share for the current year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 8th. Dollar General's payout ratio is 45.04%.

Analyst Ratings Changes

Several analysts have commented on DG shares. Guggenheim increased their price target on shares of Dollar General from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group downgraded shares of Dollar General from a "buy" rating to a "neutral" rating and upped their price objective for the company from $115.00 to $116.00 in a report on Tuesday, June 24th. Sanford C. Bernstein set a $120.00 price objective on shares of Dollar General in a report on Friday, May 23rd. Loop Capital increased their price target on shares of Dollar General from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Thursday, July 10th. Finally, Gordon Haskett upgraded shares of Dollar General from a "reduce" rating to an "accumulate" rating in a report on Tuesday, June 3rd. Sixteen equities research analysts have rated the stock with a hold rating, ten have given 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 an average price target of $108.40.

Insider Buying and Selling at Dollar General

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $111.56, for a total transaction of $718,223.28. Following the transaction, the executive vice president owned 41,646 shares of the company's stock, valued at approximately $4,646,027.76. The trade was a 13.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Emily C. Taylor sold 1,969 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total transaction of $222,497.00. Following the transaction, the executive vice president directly owned 46,563 shares in the company, valued at approximately $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.

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.