M&T Bank Corp Acquires 1,708 Shares of Dollar General Corp. (DG)
M&T Bank Corp raised its position in Dollar General Corp. (NYSE:DG) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,248 shares of the company’s stock after purchasing an additional 1,708 shares during the quarter. M&T Bank Corp’s holdings in Dollar General were worth $6,440,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Dollar General during the fourth quarter worth approximately $130,000. Calton & Associates Inc. bought a new stake in shares of Dollar General during the fourth quarter worth approximately $144,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Dollar General by 104.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,153 shares of the company’s stock worth $200,000 after buying an additional 1,102 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. bought a new stake in shares of Dollar General during the fourth quarter worth approximately $205,000. Finally, Burns J W & Co. Inc. NY bought a new stake in shares of Dollar General during the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.
A number of equities research analysts recently weighed in on DG shares. Zacks Investment Research raised shares of Dollar General from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Wednesday, November 1st. Wells Fargo & Co initiated coverage on shares of Dollar General in a research note on Friday, November 3rd. They issued an “underperform” rating and a $72.00 target price for the company. KeyCorp reaffirmed a “hold” rating on shares of Dollar General in a research note on Friday, November 10th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $89.00 target price on shares of Dollar General in a research note on Tuesday, November 14th. Finally, Deutsche Bank raised shares of Dollar General from a “hold” rating to a “buy” rating and upped their target price for the company from $79.00 to $93.00 in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Dollar General presently has an average rating of “Buy” and an average target price of $91.98.
Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, December 7th. The company reported $0.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.01). Dollar General had a net margin of 5.31% and a return on equity of 22.58%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the company earned $0.89 earnings per share. Dollar General’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts predict that Dollar General Corp. will post 4.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Tuesday, January 9th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, January 8th. Dollar General’s dividend payout ratio is 23.01%.
In other Dollar General news, EVP Robert D. Ravener sold 11,368 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $92.81, for a total transaction of $1,055,064.08. Following the sale, the executive vice president now directly owns 22,598 shares in the company, valued at $2,097,320.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Anita C. Elliott sold 2,012 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $92.82, for a total transaction of $186,753.84. Following the sale, the senior vice president now owns 14,969 shares in the company, valued at $1,389,422.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,916 shares of company stock worth $1,924,881. 0.32% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This news story was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://theolympiareport.com/2018/02/13/mt-bank-corp-acquires-1708-shares-of-dollar-general-corp-dg.html.
About Dollar General
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.
Want to see what other hedge funds are holding DG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dollar General Corp. (NYSE:DG).
Receive News & Ratings for Dollar General Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dollar General and related companies with MarketBeat.com's FREE daily email newsletter.