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

Cornerstone Advisors LLC trimmed its position in shares of Dollar General Co. (NYSE:DG) by 39.6% during the second quarter, Holdings Channel.com reports. The firm owned 8,400 shares of the company’s stock after selling 5,500 shares during the period. Cornerstone Advisors LLC’s holdings in Dollar General were worth $1,111,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of Dollar General by 278.1% during the first quarter. Cetera Investment Advisers now owns 64,628 shares of the company’s stock worth $10,086,000 after purchasing an additional 47,534 shares during the period. Vanguard Group Inc. raised its position in Dollar General by 15.5% in the 4th quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock valued at $3,408,514,000 after buying an additional 3,360,413 shares during the last quarter. Nexus Investment Management ULC raised its position in Dollar General by 10.5% in the 1st quarter. Nexus Investment Management ULC now owns 191,800 shares of the company’s stock valued at $29,932,000 after buying an additional 18,280 shares during the last quarter. FIL Ltd raised its position in Dollar General by 31.4% in the 4th quarter. FIL Ltd now owns 1,340,157 shares of the company’s stock valued at $182,194,000 after buying an additional 320,157 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Dollar General in the 1st quarter valued at $15,896,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Dollar General Stock Performance

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

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

Dollar General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.75%. Dollar General’s dividend payout ratio (DPR) is currently 34.35%.

Insider Transactions at Dollar General

In other Dollar General news, Director Warren F. Bryant acquired 500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 41,030 shares in the company, valued at $3,298,812. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Roderick J. West sold 2,510 shares of Dollar General stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.25, for a total value of $208,957.50. Following the sale, the executive vice president now directly owns 9,163 shares in the company, valued at approximately $762,819.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Warren F. Bryant purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average price of $80.40 per share, for a total transaction of $40,200.00. Following the completion of the transaction, the director now directly owns 41,030 shares of the company’s stock, valued at $3,298,812. The disclosure for this purchase can be found here. Corporate insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DG. Wells Fargo & Company lowered their price target on Dollar General from $145.00 to $130.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Bank of America lowered their price target on Dollar General from $118.00 to $95.00 and set an “underperform” rating for the company in a research report on Friday, August 30th. Oppenheimer restated a “market perform” rating on shares of Dollar General in a research note on Monday, August 26th. Daiwa America downgraded Dollar General from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Loop Capital reduced their price objective on Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.