Cornerstone Advisors LLC Grows Stake in Dollar General Co. (NYSE:DG)

Cornerstone Advisors LLC lifted its position in Dollar General Co. (NYSE:DG) by 27.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the company’s stock after acquiring an additional 2,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in Dollar General were worth $905,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DG. Bank & Trust Co acquired a new stake in Dollar General in the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Dollar General in the second quarter valued at about $33,000. Studio Investment Management LLC raised its holdings in shares of Dollar General by 117.7% during the second quarter. Studio Investment Management LLC now owns 283 shares of the company’s stock valued at $37,000 after acquiring an additional 153 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Dollar General during the second quarter worth $37,000. Finally, TruNorth Capital Management LLC acquired a new stake in Dollar General in the 2nd quarter valued at about $39,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on DG shares. Bernstein Bank reduced their price target on shares of Dollar General from $98.00 to $94.00 in a research report on Friday, November 15th. Truist Financial cut their price objective on Dollar General from $135.00 to $130.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Gordon Haskett raised shares of Dollar General from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Dollar General from $97.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley lowered Dollar General from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $170.00 to $100.00 in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Dollar General presently has an average rating of “Hold” and an average target price of $104.00.

Dollar General Price Performance

DG stock opened at $73.94 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. Dollar General Co. has a 1 year low of $72.12 and a 1 year high of $168.07. The company’s 50-day moving average is $81.36 and its 200-day moving average is $108.64. The stock has a market capitalization of $16.26 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45.

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

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th were paid a $0.59 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.19%. Dollar General’s payout ratio is presently 36.65%.

Insider Buying and Selling at Dollar General

In other news, Director Warren F. Bryant bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $80.83 per share, with a total value of $80,830.00. Following the acquisition, the director now owns 42,030 shares of the company’s stock, valued at approximately $3,397,284.90. This represents a 2.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven R. Deckard sold 2,010 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $86.66, for a total transaction of $174,186.60. Following the transaction, the executive vice president now directly owns 2,887 shares of the company’s stock, valued at $250,187.42. The trade was a 41.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

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.