Dollar General Corp. (DG) Position Raised by Teacher Retirement System of Texas
Teacher Retirement System of Texas boosted its stake in Dollar General Corp. (NYSE:DG) by 132.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 530,927 shares of the company’s stock after purchasing an additional 302,392 shares during the quarter. Teacher Retirement System of Texas owned about 0.20% of Dollar General worth $52,349,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC grew its stake in Dollar General by 8,228.6% during the first quarter. Summit Trail Advisors LLC now owns 3,050,695 shares of the company’s stock worth $3,051,000 after buying an additional 3,014,066 shares during the period. Polen Capital Management LLC grew its stake in Dollar General by 35.7% during the first quarter. Polen Capital Management LLC now owns 6,756,945 shares of the company’s stock worth $632,112,000 after buying an additional 1,779,432 shares during the period. Unigestion Holding SA purchased a new stake in Dollar General during the second quarter worth approximately $53,619,000. Wedge Capital Management L L P NC purchased a new stake in Dollar General during the second quarter worth approximately $46,067,000. Finally, Millennium Management LLC grew its stake in Dollar General by 498.2% during the first quarter. Millennium Management LLC now owns 559,195 shares of the company’s stock worth $52,313,000 after buying an additional 465,720 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.
DG has been the subject of several research reports. Raymond James reiterated an “outperform” rating and set a $105.00 price objective (down from $110.00) on shares of Dollar General in a research note on Monday, April 16th. Morgan Stanley set a $122.00 price objective on shares of Dollar General and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Zacks Investment Research downgraded shares of Dollar General from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Citigroup initiated coverage on shares of Dollar General in a research note on Friday, July 6th. They set a “buy” rating for the company. Finally, Credit Suisse Group initiated coverage on shares of Dollar General in a research note on Tuesday, April 17th. They set a “neutral” rating and a $103.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $96.73.
Dollar General (NYSE:DG) last posted its earnings results on Thursday, May 31st. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.04). Dollar General had a return on equity of 22.40% and a net margin of 6.77%. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. equities research analysts anticipate that Dollar General Corp. will post 6.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 24th. Stockholders of record on Tuesday, July 10th were given a dividend of $0.29 per share. The ex-dividend date was Monday, July 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.13%. Dollar General’s payout ratio is currently 25.84%.
In related news, Director Timothy I. Mcguire purchased 2,275 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The shares were purchased at an average cost of $88.06 per share, with a total value of $200,336.50. Following the completion of the acquisition, the director now directly owns 3,834 shares of the company’s stock, valued at approximately $337,622.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert D. Ravener sold 10,000 shares of the company’s stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $100.03, for a total transaction of $1,000,300.00. Following the completion of the sale, the executive vice president now directly owns 38,307 shares in the company, valued at $3,831,849.21. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
About Dollar General
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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