Cornerstone Advisors LLC Has $1.11 Million Holdings in Dollar General Co. (NYSE:DG)

Cornerstone Advisors LLC lessened its stake in Dollar General Co. (NYSE:DG) by 39.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,400 shares of the company’s stock after selling 5,500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Dollar General were worth $1,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its stake in Dollar General by 12.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 689 shares of the company’s stock valued at $108,000 after purchasing an additional 76 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in Dollar General by 3.3% in the first quarter. Fidelis Capital Partners LLC now owns 2,425 shares of the company’s stock valued at $378,000 after purchasing an additional 77 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its stake in Dollar General by 3.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,390 shares of the company’s stock valued at $373,000 after purchasing an additional 80 shares in the last quarter. Pullen Investment Management LLC raised its stake in Dollar General by 4.3% in the second quarter. Pullen Investment Management LLC now owns 2,105 shares of the company’s stock valued at $278,000 after purchasing an additional 87 shares in the last quarter. Finally, Rise Advisors LLC raised its stake in Dollar General by 14.8% in the first quarter. Rise Advisors LLC now owns 700 shares of the company’s stock valued at $109,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Stock Performance

NYSE:DG opened at $85.75 on Tuesday. The stock’s 50-day moving average is $111.91 and its 200-day moving average is $131.54. Dollar General Co. has a 1-year low of $77.96 and a 1-year high of $168.07. The stock has a market cap of $18.86 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 2.36 and a beta of 0.44. The company has a current ratio of 1.22, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86.

Dollar General (NYSE:DG) last announced its earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Dollar General Co. will post 5.85 earnings per share for the current year.

Dollar General Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, October 8th. Dollar General’s payout ratio is presently 34.35%.

Insider Activity at Dollar General

In other Dollar General news, Director Warren F. Bryant purchased 500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $80.40 per share, for a total transaction of $40,200.00. Following the acquisition, the director now owns 41,030 shares of the company’s stock, valued at $3,298,812. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Dollar General news, Director Warren F. Bryant purchased 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $80.83 per share, for a total transaction of $80,830.00. Following the acquisition, the director now owns 42,030 shares of the company’s stock, valued at $3,397,284.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Warren F. Bryant purchased 500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $80.40 per share, for a total transaction of $40,200.00. Following the completion of the acquisition, the director now directly owns 41,030 shares in the company, valued at approximately $3,298,812. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DG shares. Argus dropped their price target on Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays lowered their target price on Dollar General from $154.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Piper Sandler lowered their target price on Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Gordon Haskett downgraded Dollar General from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, August 30th. Finally, Evercore ISI lowered their target price on Dollar General from $139.00 to $100.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $113.95.

Dollar General 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.