Coho Partners Ltd. cut its stake in Dollar General (NYSE:DG) by 3.3% in the first quarter, Holdings Channel reports. The institutional investor owned 2,099,791 shares of the company’s stock after selling 71,033 shares during the period. Dollar General makes up about 5.2% of Coho Partners Ltd.’s investment portfolio, making the stock its biggest holding. Coho Partners Ltd.’s holdings in Dollar General were worth $196,435,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of DG. Tredje AP fonden lifted its position in shares of Dollar General by 9.4% during the first quarter. Tredje AP fonden now owns 24,092 shares of the company’s stock worth $2,254,000 after purchasing an additional 2,080 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Dollar General by 16.0% during the first quarter. Envestnet Asset Management Inc. now owns 85,468 shares of the company’s stock worth $8,001,000 after purchasing an additional 11,798 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Dollar General by 205.6% during the first quarter. Teacher Retirement System of Texas now owns 228,535 shares of the company’s stock worth $21,379,000 after purchasing an additional 153,744 shares during the last quarter. Washington Capital Management Inc. lifted its position in shares of Dollar General by 23.0% during the first quarter. Washington Capital Management Inc. now owns 4,550 shares of the company’s stock worth $426,000 after purchasing an additional 850 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Dollar General by 80.6% during the first quarter. Thompson Siegel & Walmsley LLC now owns 6,500 shares of the company’s stock worth $608,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.
In other Dollar General news, SVP Anita C. Elliott sold 3,000 shares of Dollar General stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $100.87, for a total value of $302,610.00. Following the transaction, the senior vice president now owns 11,313 shares in the company, valued at $1,141,142.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Kindy sold 8,221 shares of Dollar General stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $93.05, for a total value of $764,964.05. Following the completion of the transaction, the senior vice president now owns 9,850 shares in the company, valued at approximately $916,542.50. The disclosure for this sale can be found here. Insiders sold 22,987 shares of company stock worth $2,242,255 in the last quarter. 0.41% of the stock is owned by insiders.
Dollar General (NYSE:DG) last posted its earnings results on Thursday, March 15th. The company reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. sell-side analysts predict that Dollar General will post 6.01 earnings per share for the current year.
Dollar General declared that its board has initiated a stock repurchase plan on Thursday, March 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 24th. Shareholders of record on Tuesday, April 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, April 9th. This is a positive change from Dollar General’s previous quarterly dividend of $0.26. Dollar General’s payout ratio is 25.84%.
DG has been the subject of several research analyst reports. Raymond James reiterated an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Dollar General in a research report on Monday, April 16th. Morgan Stanley set a $122.00 target price on Dollar General and gave the stock a “buy” rating in a research report on Wednesday, April 25th. ValuEngine downgraded Dollar General from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Credit Suisse Group initiated coverage on Dollar General in a research report on Tuesday, April 17th. They set a “neutral” rating and a $103.00 target price for the company. Finally, Wells Fargo reiterated an “outperform” rating and set a $113.00 target price (down from $117.00) on shares of Dollar General in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $98.57.
About Dollar General
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products comprising paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food products, such as cereals, canned soups and vegetables, condiments, spices, sugar, and flour; perishables consisting of milk, eggs, bread, refrigerated and frozen food, beer, and wine; snacks that comprise candies, cookies, crackers, salty snacks, and carbonated beverages; health and beauty products, such as over-the-counter medicines, as well as soap, body wash, shampoo, dental hygiene, and foot care products; pet products, which include pet supplies and pet food; and tobacco products.
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