Millennium Management LLC Acquires 786,382 Shares of Dollar General Corp. (DG)

Millennium Management LLC raised its holdings in shares of Dollar General Corp. (NYSE:DG) by 140.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,345,577 shares of the company’s stock after buying an additional 786,382 shares during the period. Millennium Management LLC owned about 0.50% of Dollar General worth $132,674,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Community Bank N.A. lifted its position in Dollar General by 240.2% during the second quarter. Community Bank N.A. now owns 1,657 shares of the company’s stock valued at $164,000 after buying an additional 1,170 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Dollar General by 50.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,784 shares of the company’s stock worth $176,000 after purchasing an additional 596 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Dollar General during the first quarter worth $202,000. Checchi Capital Advisers LLC acquired a new position in shares of Dollar General during the second quarter worth $205,000. Finally, Peapack Gladstone Financial Corp acquired a new position in shares of Dollar General during the first quarter worth $209,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:DG opened at $108.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.21. The firm has a market capitalization of $29.39 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.33 and a beta of 0.94. Dollar General Corp. has a 12-month low of $76.13 and a 12-month high of $112.59.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.38 billion. Dollar General had a net margin of 7.06% and a return on equity of 23.51%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. equities research analysts predict that Dollar General Corp. will post 6.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.07%. Dollar General’s dividend payout ratio (DPR) is presently 25.84%.

A number of research analysts have recently commented on DG shares. Credit Suisse Group set a $103.00 target price on shares of Dollar General and gave the stock a “hold” rating in a research report on Tuesday, May 29th. Loop Capital reissued a “hold” rating on shares of Dollar General in a research report on Wednesday, May 30th. Telsey Advisory Group reduced their target price on shares of Dollar General from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, June 1st. Morgan Stanley reduced their target price on shares of Dollar General from $122.00 to $116.00 and set an “overweight” rating on the stock in a research report on Friday, June 1st. Finally, Barclays reduced their target price on shares of Dollar General from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Friday, June 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $103.33.

In related news, EVP Robert D. Ravener sold 22,440 shares of Dollar General stock in a transaction on Friday, September 7th. The shares were sold at an average price of $111.49, for a total value of $2,501,835.60. Following the completion of the sale, the executive vice president now owns 50,747 shares in the company, valued at $5,657,783.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert D. Ravener sold 10,000 shares of Dollar General stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $100.03, for a total transaction of $1,000,300.00. Following the completion of the sale, the executive vice president now owns 38,307 shares of the company’s stock, valued at approximately $3,831,849.21. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Dollar General Profile

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, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.

Further Reading: Asset Allocation and Your Retirement

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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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