Dollar General Corp. (NYSE:DG) Stake Increased by Coastline Trust Co
Coastline Trust Co grew its holdings in Dollar General Corp. (NYSE:DG) by 17.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,272 shares of the company’s stock after purchasing an additional 190 shares during the period. Coastline Trust Co’s holdings in Dollar General were worth $267,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Dollar General in the second quarter valued at $26,000. Norway Savings Bank acquired a new position in shares of Dollar General in the third quarter worth $31,000. FinTrust Capital Advisors LLC increased its stake in shares of Dollar General by 84.7% in the first quarter. FinTrust Capital Advisors LLC now owns 218 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Dollar General in the second quarter worth $33,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of Dollar General in the first quarter worth $35,000. Institutional investors own 91.08% of the company’s stock.
In other Dollar General news, CAO Anita C. Elliott sold 8,470 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $209.80, for a total transaction of $1,777,006.00. Following the completion of the transaction, the chief accounting officer now owns 20,968 shares in the company, valued at $4,399,086.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John W. Garratt sold 8,759 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $201.20, for a total transaction of $1,762,310.80. Following the transaction, the chief financial officer now owns 14,924 shares of the company’s stock, valued at approximately $3,002,708.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,435 shares of company stock valued at $19,984,494. Corporate insiders own 0.72% of the company’s stock.
Dollar General (NYSE:DG) last released its earnings results on Thursday, August 27th. The company reported $3.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.68. Dollar General had a net margin of 7.48% and a return on equity of 33.51%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. Research analysts forecast that Dollar General Corp. will post 10 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, October 5th. Dollar General’s payout ratio is presently 21.40%.
A number of research firms have recently weighed in on DG. Telsey Advisory Group upped their price target on shares of Dollar General from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, August 24th. Loop Capital upped their price target on shares of Dollar General from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 1st. They noted that the move was a valuation call. KeyCorp increased their target price on shares of Dollar General from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Oppenheimer reissued a “buy” rating and set a $225.00 target price on shares of Dollar General in a research report on Thursday, August 27th. Finally, Morgan Stanley increased their target price on shares of Dollar General from $222.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Dollar General currently has a consensus rating of “Buy” and an average price target of $215.27.
Dollar General Company Profile
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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