Dollar General Co. (NYSE:DG) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN boosted its holdings in Dollar General Co. (NYSE:DG) by 237.5% during the third quarter, HoldingsChannel.com reports. The fund owned 10,258 shares of the company’s stock after acquiring an additional 7,219 shares during the period. OLD National Bancorp IN’s holdings in Dollar General were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in Dollar General by 85.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 58,107 shares of the company’s stock valued at $7,683,000 after purchasing an additional 26,813 shares during the period. Cetera Investment Advisers lifted its position in Dollar General by 278.1% in the first quarter. Cetera Investment Advisers now owns 64,628 shares of the company’s stock worth $10,086,000 after purchasing an additional 47,534 shares during the period. Kiltearn Partners LLP bought a new position in Dollar General during the second quarter valued at about $9,587,000. MBB Public Markets I LLC boosted its position in shares of Dollar General by 642.0% during the 2nd quarter. MBB Public Markets I LLC now owns 15,923 shares of the company’s stock valued at $2,105,000 after purchasing an additional 13,777 shares in the last quarter. Finally, Nexus Investment Management ULC grew its position in Dollar General by 32.3% in the third quarter. Nexus Investment Management ULC now owns 281,290 shares of the company’s stock worth $23,789,000 after buying an additional 68,645 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.

Dollar General Price Performance

Shares of Dollar General stock opened at $81.14 on Tuesday. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.42 and a beta of 0.44. The company has a current ratio of 1.22, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. Dollar General Co. has a 1-year low of $77.96 and a 1-year high of $168.07. The firm’s 50-day moving average price is $92.65 and its two-hundred day moving average price is $119.00.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). The business had revenue of $10.21 billion during 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 quarter in the previous year, the firm posted $2.13 EPS. On average, equities analysts predict that Dollar General Co. will post 5.86 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.91%. Dollar General’s payout ratio is 34.35%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DG. The Goldman Sachs Group dropped their target price on shares of Dollar General from $169.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Barclays dropped 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. Daiwa America lowered Dollar General from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 4th. Loop Capital reduced their price objective on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Morgan Stanley cut Dollar General from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $170.00 to $100.00 in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Dollar General currently has a consensus rating of “Hold” and a consensus target price of $108.11.

Insider Activity

In other news, Director Warren F. Bryant acquired 1,000 shares of Dollar General stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $80.83 per share, with a total value of $80,830.00. Following the acquisition, the director now owns 42,030 shares in the company, valued at $3,397,284.90. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Dollar General news, Director Warren F. Bryant purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of $80.40 per share, with a total value of $40,200.00. Following the completion of the purchase, the director now directly owns 41,030 shares in the company, valued at approximately $3,298,812. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Warren F. Bryant acquired 1,000 shares of Dollar General stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $80.83 per share, for a total transaction of $80,830.00. Following the completion of the purchase, the director now owns 42,030 shares of the company’s stock, valued at approximately $3,397,284.90. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.49% of the stock is 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.