Cornerstone Wealth Management LLC Increases Stake in Dollar General Co. (NYSE:DG)

Cornerstone Wealth Management LLC increased its position in Dollar General Co. (NYSE:DG) by 105.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,187 shares of the company’s stock after acquiring an additional 2,146 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Dollar General were worth $354,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in Dollar General by 11.3% in the 1st quarter. Capital International Investors now owns 20,790,023 shares of the company’s stock worth $3,244,491,000 after purchasing an additional 2,113,485 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Dollar General by 11.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,217,480 shares of the company’s stock worth $3,155,141,000 after purchasing an additional 2,031,593 shares during the period. Pzena Investment Management LLC bought a new position in Dollar General in the 1st quarter worth about $301,738,000. Point72 Asset Management L.P. boosted its stake in Dollar General by 148.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,280,020 shares of the company’s stock worth $169,257,000 after purchasing an additional 765,206 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Dollar General by 319.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 925,083 shares of the company’s stock worth $122,324,000 after purchasing an additional 704,639 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Dollar General Trading Down 1.6 %

Dollar General stock opened at $80.60 on Friday. 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 business’s fifty day simple moving average is $93.38 and its two-hundred day simple moving average is $120.07. Dollar General Co. has a 12 month low of $77.96 and a 12 month high of $168.07. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 2.42 and a beta of 0.44.

Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.37 billion. Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. As a group, equities analysts predict that Dollar General Co. will post 5.86 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, October 8th. Dollar General’s dividend payout ratio (DPR) is presently 34.35%.

Insiders Place Their Bets

In other Dollar General news, EVP Roderick J. West sold 2,510 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.25, for a total value of $208,957.50. Following the completion of the sale, the executive vice president now owns 9,163 shares in the company, valued at $762,819.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Steven R. Deckard sold 2,010 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $86.66, for a total transaction of $174,186.60. Following the completion of the sale, the executive vice president now owns 2,887 shares in the company, valued at approximately $250,187.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Roderick J. West sold 2,510 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.25, for a total value of $208,957.50. Following the sale, the executive vice president now owns 9,163 shares of the company’s stock, valued at $762,819.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

DG has been the subject of a number of research analyst reports. Argus dropped their price target on Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Telsey Advisory Group downgraded Dollar General from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $168.00 to $103.00 in a research report on Friday, August 30th. Oppenheimer reissued a “market perform” rating on shares of Dollar General in a report on Monday, August 26th. Barclays decreased their price objective on Dollar General from $154.00 to $102.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Citigroup cut Dollar General from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $91.00 to $73.00 in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.11.

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.