Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Dollar General Corporation (NYSE:DG)

Key Points

• Zurcher Kantonalbank has reduced its holdings in Dollar General by 24.2%, selling 15,460 shares, and now holds 48,356 shares valued at approximately $4.25 million.
• Various institutional investors are significantly increasing their positions in Dollar General, with Pacer Advisors Inc. growing its stake by 5,440.2% in the first quarter, owning nearly 1.58 million shares worth $139 million.
• Dollar General's recent research reports show analysts raising target prices, with UBS Group setting a new target at $128.00 and Oppenheimer upgrading their rating to outperform while setting a target at $130.00.

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Dollar General Corporation (NYSE:DG - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,356 shares of the company's stock after selling 15,460 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Dollar General were worth $4,252,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Dollar General during the 4th quarter worth $25,000. Ameriflex Group Inc. acquired a new stake in shares of Dollar General during the fourth quarter valued at about $31,000. Mountain Hill Investment Partners Corp. boosted its stake in shares of Dollar General by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock valued at $44,000 after purchasing an additional 200 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Dollar General by 170.1% during the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock valued at $48,000 after purchasing an additional 342 shares in the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Dollar General by 39.4% during the first quarter. CVA Family Office LLC now owns 570 shares of the company's stock valued at $50,000 after purchasing an additional 161 shares in the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

Dollar General Stock Up 0.3%

Shares of NYSE DG traded up $0.38 during midday trading on Tuesday, hitting $111.32. 1,151,408 shares of the stock traded hands, compared to its average volume of 3,825,114. The company has a market cap of $24.50 billion, a PE ratio of 21.25, a P/E/G ratio of 2.66 and a beta of 0.31. Dollar General Corporation has a one year low of $66.43 and a one year high of $126.98. The business has a 50 day moving average price of $110.34 and a two-hundred day moving average price of $93.01. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23.

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, beating the consensus estimate of $1.46 by $0.32. The company had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.25 billion. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. Dollar General's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. On average, equities analysts predict that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $2.36 annualized dividend and a dividend yield of 2.1%. Dollar General's payout ratio is presently 45.04%.

Insider Activity at Dollar General

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DG. Melius raised Dollar General from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Tuesday, April 8th. KeyCorp reissued a "sector weight" rating on shares of Dollar General in a research note on Wednesday, June 4th. Raymond James Financial lifted their price target on Dollar General from $100.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Melius Research upgraded Dollar General from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Barclays lifted their price objective on Dollar General from $100.00 to $119.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Sixteen research 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 company. Based on data from MarketBeat.com, Dollar General presently has an average rating of "Hold" and a consensus price target of $108.40.

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.