Cornerstone Investment Partners LLC Has $1,790,000 Position in Dollar General Corp. (DG)
Cornerstone Investment Partners LLC reduced its position in shares of Dollar General Corp. (NYSE:DG) by 96.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,579 shares of the company’s stock after selling 737,163 shares during the period. Cornerstone Investment Partners LLC’s holdings in Dollar General Corp. were worth $1,790,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Dollar General Corp. by 7.8% in the second quarter. Pacer Advisors Inc. now owns 1,124 shares of the company’s stock worth $106,000 after buying an additional 81 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Dollar General Corp. by 45.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,865 shares of the company’s stock worth $175,000 after buying an additional 579 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Dollar General Corp. during the second quarter worth approximately $200,000. Burns J W & Co. Inc. NY purchased a new stake in shares of Dollar General Corp. during the second quarter worth approximately $203,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of Dollar General Corp. during the second quarter worth approximately $205,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.
Shares of Dollar General Corp. (NYSE:DG) traded down 1.75% on Monday, hitting $78.66. 4,354,060 shares of the stock were exchanged. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 18.40 and a beta of 0.80. Dollar General Corp. has a 52-week low of $65.11 and a 52-week high of $96.88. The company has a 50 day moving average of $71.74 and a 200 day moving average of $81.86.
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DG has been the subject of a number of recent analyst reports. Johnson Rice cut shares of Dollar General Corp. from a “buy” rating to an “accumulate” rating in a research note on Friday, August 26th. MKM Partners reiterated a “buy” rating and issued a $97.00 price target on shares of Dollar General Corp. in a research note on Thursday, August 25th. Morgan Stanley reiterated a “buy” rating and issued a $97.00 price target on shares of Dollar General Corp. in a research note on Sunday, August 28th. Citigroup Inc. increased their price target on shares of Dollar General Corp. from $89.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $77.00 price target (down previously from $84.00) on shares of Dollar General Corp. in a research note on Wednesday, October 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.36.
In related news, Director Michael M. Calbert bought 13,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were acquired at an average cost of $75.53 per share, with a total value of $981,890.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.
Dollar General Corp. Company Profile
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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