Stock Yards Bank & Trust Co. Sells 500 Shares of Dollar General Co. (NYSE:DG)

Stock Yards Bank & Trust Co. decreased its holdings in Dollar General Co. (NYSE:DG) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,626 shares of the company’s stock after selling 500 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Dollar General were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DG. Oppenheimer Asset Management Inc. raised its holdings in Dollar General by 85.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 58,107 shares of the company’s stock worth $7,683,000 after purchasing an additional 26,813 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Dollar General by 278.1% in the first quarter. Cetera Investment Advisers now owns 64,628 shares of the company’s stock valued at $10,086,000 after buying an additional 47,534 shares during the period. Vanguard Group Inc. boosted its position in Dollar General by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock valued at $3,408,514,000 after acquiring an additional 3,360,413 shares during the last quarter. Nexus Investment Management ULC grew its holdings in Dollar General by 10.5% during the 1st quarter. Nexus Investment Management ULC now owns 191,800 shares of the company’s stock worth $29,932,000 after acquiring an additional 18,280 shares during the period. Finally, FIL Ltd raised its position in shares of Dollar General by 31.4% in the 4th quarter. FIL Ltd now owns 1,340,157 shares of the company’s stock worth $182,194,000 after acquiring an additional 320,157 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on DG. Wells Fargo & Company cut their target price on Dollar General from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. BMO Capital Markets reduced their price objective on shares of Dollar General from $130.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, August 30th. Truist Financial lowered their price objective on shares of Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Morgan Stanley lowered shares of Dollar General from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $170.00 to $100.00 in a research note on Friday, August 30th. Finally, Bank of America decreased their price target on shares of Dollar General from $118.00 to $95.00 and set an “underperform” rating for the company in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $113.95.

Dollar General Price Performance

Shares of NYSE:DG opened at $86.86 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. The stock has a market cap of $19.10 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.36 and a beta of 0.44. The stock’s fifty day simple moving average is $110.25 and its two-hundred day simple moving average is $130.79. Dollar General Co. has a 1-year low of $77.96 and a 1-year high of $168.07.

Dollar General (NYSE:DG) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.37 billion. Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. As a group, analysts forecast that Dollar General Co. will post 5.85 EPS for the current fiscal year.

Dollar General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, October 8th. This represents a $2.36 annualized dividend and a dividend yield of 2.72%. Dollar General’s payout ratio is currently 34.35%.

Insider Buying and Selling

In other news, Director Warren F. Bryant bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $80.83 per share, with a total value of $80,830.00. Following the completion of the transaction, the director now directly owns 42,030 shares of the company’s stock, valued at approximately $3,397,284.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Dollar General news, Director Warren F. Bryant bought 1,000 shares of Dollar General stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $80.83 per share, for a total transaction of $80,830.00. Following the completion of the purchase, the director now directly owns 42,030 shares of the company’s stock, valued at $3,397,284.90. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Roderick J. West sold 2,510 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.25, for a total transaction of $208,957.50. Following the sale, the executive vice president now owns 9,163 shares in the company, valued at $762,819.75. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

About Dollar General

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.