CIBC Private Wealth Group LLC reduced its holdings in Dollar General Co. (NYSE:DG) by 27.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 776,761 shares of the company’s stock after selling 299,208 shares during the quarter. CIBC Private Wealth Group LLC owned 0.32% of Dollar General worth $157,386,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Wealthcare Advisory Partners LLC bought a new position in shares of Dollar General during the first quarter worth about $25,000. Jacobi Capital Management LLC grew its holdings in shares of Dollar General by 76.9% during the fourth quarter. Jacobi Capital Management LLC now owns 138 shares of the company’s stock worth $29,000 after buying an additional 60 shares in the last quarter. Grant Street Asset Management Inc. acquired a new position in Dollar General during the first quarter valued at approximately $35,000. Focused Wealth Management Inc boosted its position in Dollar General by 146.7% during the first quarter. Focused Wealth Management Inc now owns 185 shares of the company’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Finally, Reby Advisors LLC acquired a new position in Dollar General during the fourth quarter valued at approximately $42,000. Institutional investors own 88.57% of the company’s stock.
Several research analysts recently commented on DG shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Dollar General from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 28th. JPMorgan Chase & Co. raised their price objective on Dollar General from $224.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, March 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Dollar General in a research report on Monday, May 10th. Jefferies Financial Group cut their price objective on Dollar General from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, March 19th. Finally, Citigroup raised their price objective on Dollar General from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $232.42.
DG traded up $2.44 during midday trading on Friday, reaching $208.89. 21,946 shares of the company were exchanged, compared to its average volume of 2,397,508. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.18 and a current ratio of 1.14. The stock has a fifty day moving average of $209.12. The company has a market cap of $49.34 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.52. Dollar General Co. has a one year low of $173.50 and a one year high of $225.25.
Dollar General (NYSE:DG) last posted its quarterly earnings data on Wednesday, May 26th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.19 by $0.63. Dollar General had a return on equity of 39.37% and a net margin of 7.96%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. Dollar General’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Dollar General Co. will post 10 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 20th. Shareholders of record on Tuesday, July 6th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, July 2nd. This represents a $1.68 annualized dividend and a dividend yield of 0.80%. Dollar General’s dividend payout ratio is currently 15.82%.
Dollar General declared that its board has authorized a stock repurchase program on Thursday, March 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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 products; 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.
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