Concert Wealth Management Inc. cut its position in Dollar General Corp. (NYSE:DG) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 3,045 shares of the company’s stock after selling 27 shares during the period. Concert Wealth Management Inc.’s holdings in Dollar General Corp. were worth $284,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Sigma Planning Corp acquired a new position in Dollar General Corp. during the second quarter worth approximately $200,000. Burns J W & Co. Inc. NY acquired a new position in Dollar General Corp. during the second quarter worth approximately $203,000. Checchi Capital Advisers LLC increased its position in Dollar General Corp. by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 2,219 shares of the company’s stock worth $209,000 after buying an additional 43 shares in the last quarter. Alpha Windward LLC increased its position in Dollar General Corp. by 19.5% in the second quarter. Alpha Windward LLC now owns 2,240 shares of the company’s stock worth $211,000 after buying an additional 365 shares in the last quarter. Finally, Genesee Valley Trust Co. acquired a new position in Dollar General Corp. during the second quarter worth approximately $213,000. 85.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Dollar General Corp. (NYSE:DG) traded down 0.53% during midday trading on Friday, hitting $68.98. The stock had a trading volume of 1,761,745 shares. The firm’s 50-day moving average is $71.26 and its 200 day moving average is $84.31. Dollar General Corp. has a one year low of $59.75 and a one year high of $96.88. The company has a market capitalization of $19.43 billion, a PE ratio of 16.13 and a beta of 0.74.
Dollar General Corp. (NYSE:DG) last issued its quarterly earnings results on Thursday, August 25th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.01. Dollar General Corp. had a net margin of 5.86% and a return on equity of 22.95%. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the company earned $0.95 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Dollar General Corp. will post $4.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, September 12th. Dollar General Corp.’s payout ratio is 23.42%.
A number of equities analysts have commented on the stock. Johnson Rice downgraded shares of Dollar General Corp. from a “buy” rating to an “accumulate” rating in a report on Friday, August 26th. RBC Capital Markets reiterated an “outperform” rating and issued a $90.00 target price (down from $103.00) on shares of Dollar General Corp. in a research note on Friday, August 26th. Macquarie cut their target price on Dollar General Corp. from $98.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, August 25th. Barclays PLC initiated coverage on Dollar General Corp. in a research note on Friday, September 23rd. They issued an “equal weight” rating and a $74.00 target price on the stock. Finally, Jefferies Group cut their target price on Dollar General Corp. from $96.00 to $78.00 and set a “hold” rating on the stock in a research note on Friday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Dollar General Corp. currently has a consensus rating of “Buy” and an average price target of $89.42.
In related news, Director William C. Rhodes III bought 5,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were purchased at an average price of $76.30 per share, with a total value of $381,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael M. Calbert bought 13,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was bought at an average cost of $75.53 per share, for a total transaction of $981,890.00. The disclosure for this purchase can be found here. 0.22% of the stock is owned by company insiders.
About Dollar General Corp.
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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