CIBC Asset Management Inc Boosts Stock Holdings in Dollar General Co. (NYSE:DG)

CIBC Asset Management Inc boosted its position in Dollar General Co. (NYSE:DG) by 6.3% in the 3rd quarter, Holdings Channel reports. The firm owned 34,078 shares of the company’s stock after acquiring an additional 2,029 shares during the quarter. CIBC Asset Management Inc’s holdings in Dollar General were worth $2,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors grew its position in Dollar General by 11.3% in the first quarter. Capital International Investors now owns 20,790,023 shares of the company’s stock worth $3,244,491,000 after acquiring an additional 2,113,485 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Dollar General by 11.2% during 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 acquiring an additional 2,031,593 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Dollar General by 148.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,280,020 shares of the company’s stock worth $169,257,000 after buying an additional 765,206 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Dollar General by 319.6% during the second 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 last quarter. Finally, Interval Partners LP acquired a new stake in shares of Dollar General in the 1st quarter valued at about $87,081,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Stock Up 1.6 %

Shares of NYSE DG opened at $77.09 on Tuesday. The stock has a market cap of $16.95 billion, a PE ratio of 11.97, a PEG ratio of 2.22 and a beta of 0.45. The business has a fifty day moving average of $81.77 and a two-hundred day moving average of $109.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 1.22. Dollar General Co. has a 52-week low of $73.51 and a 52-week high of $168.07.

Dollar General (NYSE:DG) last released its 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). Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Dollar General Co. will post 5.86 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Tuesday, October 8th. Dollar General’s dividend payout ratio (DPR) is currently 36.65%.

Insiders Place Their Bets

In other Dollar General news, EVP Steven R. Deckard sold 2,010 shares of Dollar General stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $86.66, for a total value of $174,186.60. Following the transaction, the executive vice president now owns 2,887 shares in the company, valued at $250,187.42. The trade was a 41.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Warren F. Bryant bought 500 shares of Dollar General stock in a transaction on Thursday, September 5th. The shares were acquired at an average cost of $80.40 per share, for a total transaction of $40,200.00. Following the completion of the acquisition, the director now directly owns 41,030 shares in the company, valued at approximately $3,298,812. The trade was a 1.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

DG has been the topic of a number of analyst reports. Barclays lowered 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. Oppenheimer reiterated a “market perform” rating on shares of Dollar General in a research note on Monday, August 26th. Gordon Haskett upgraded shares of Dollar General from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Jefferies Financial Group cut their target price on shares of Dollar General from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Finally, Daiwa America downgraded shares of Dollar General from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.00.

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.