Canandaigua National Bank & Trust Co. Cuts Stock Position in Dollar General Co. (NYSE:DG)

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Dollar General Co. (NYSE:DG) by 19.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,955 shares of the company’s stock after selling 721 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Dollar General were worth $461,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Dollar General by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock worth $3,408,514,000 after purchasing an additional 3,360,413 shares during the last quarter. Capital International Investors increased its position in Dollar General by 13.9% during the fourth quarter. Capital International Investors now owns 18,676,538 shares of the company’s stock worth $2,539,026,000 after buying an additional 2,273,119 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Dollar General by 162.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock valued at $2,472,372,000 after buying an additional 11,257,537 shares during the last quarter. Capital World Investors boosted its holdings in shares of Dollar General by 1.0% in the fourth quarter. Capital World Investors now owns 13,068,256 shares of the company’s stock valued at $1,776,629,000 after acquiring an additional 133,591 shares during the period. Finally, Norges Bank purchased a new position in shares of Dollar General during the fourth quarter worth approximately $337,150,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Stock Down 0.2 %

Shares of NYSE DG opened at $126.66 on Wednesday. The firm’s 50 day moving average price is $138.73 and its 200 day moving average price is $140.13. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.18 and a current ratio of 1.22. The firm has a market cap of $27.85 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.50 and a beta of 0.45. Dollar General Co. has a 1 year low of $101.09 and a 1 year high of $173.47.

Dollar General (NYSE:DG) last posted its quarterly earnings data on Thursday, May 30th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.08. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Dollar General had a return on equity of 22.80% and a net margin of 3.85%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 earnings per share. As a group, sell-side analysts anticipate that Dollar General Co. will post 7.21 earnings per share for the current year.

Dollar General Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, July 9th. Dollar General’s dividend payout ratio (DPR) is 34.35%.

Insiders Place Their Bets

In other Dollar General news, Director Ralph Santana sold 3,009 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $155.72, for a total transaction of $468,561.48. Following the completion of the sale, the director now owns 3,248 shares of the company’s stock, valued at $505,778.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dollar General news, Director Ralph Santana sold 3,009 shares of Dollar General stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $155.72, for a total transaction of $468,561.48. Following the transaction, the director now directly owns 3,248 shares of the company’s stock, valued at $505,778.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Carman R. Wenkoff sold 5,909 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $162.23, for a total transaction of $958,617.07. Following the completion of the sale, the executive vice president now directly owns 28,579 shares of the company’s stock, valued at approximately $4,636,371.17. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DG shares. BMO Capital Markets dropped their price target on Dollar General from $150.00 to $140.00 and set a “market perform” rating on the stock in a research report on Friday, May 31st. Wells Fargo & Company cut their price objective on shares of Dollar General from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 4th. Piper Sandler lowered their target price on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Argus increased their price target on shares of Dollar General from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group lifted their price objective on Dollar General from $147.00 to $169.00 and gave the company a “buy” rating in a report on Friday, March 15th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $148.41.

Dollar General Company 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.