CIBC Asset Management Inc Sells 2,449 Shares of Dollar General Co. (NYSE:DG)

CIBC Asset Management Inc cut its holdings in Dollar General Co. (NYSE:DG) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,049 shares of the company’s stock after selling 2,449 shares during the period. CIBC Asset Management Inc’s holdings in Dollar General were worth $4,238,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DG. Resonant Capital Advisors LLC raised its position in shares of Dollar General by 2.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 16,528 shares of the company’s stock valued at $2,185,000 after purchasing an additional 353 shares during the period. Cravens & Co Advisors LLC raised its position in shares of Dollar General by 33.9% during the 2nd quarter. Cravens & Co Advisors LLC now owns 6,706 shares of the company’s stock valued at $887,000 after purchasing an additional 1,699 shares during the period. AM Squared Ltd bought a new stake in shares of Dollar General during the 2nd quarter valued at $159,000. Tandem Investment Advisors Inc. raised its position in shares of Dollar General by 5.9% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 2,418 shares of the company’s stock valued at $320,000 after purchasing an additional 134 shares during the period. Finally, SeaBridge Investment Advisors LLC raised its position in shares of Dollar General by 52.6% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 20,315 shares of the company’s stock valued at $2,686,000 after purchasing an additional 7,004 shares during the period. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DG has been the topic of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Dollar General from $130.00 to $90.00 and set a “market perform” rating on the stock in a research report on Friday, August 30th. Barclays dropped their price objective on shares of Dollar General from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley lowered Dollar General from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $170.00 to $100.00 in a research report on Friday, August 30th. Piper Sandler decreased their target price on Dollar General from $147.00 to $141.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Raymond James reduced their price objective on Dollar General from $150.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.95.

Dollar General Price Performance

DG stock opened at $81.08 on Thursday. Dollar General Co. has a 12 month low of $79.36 and a 12 month high of $168.07. The company has a current ratio of 1.22, a quick ratio of 0.18 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $119.37 and a 200 day moving average price of $134.96. The stock has a market cap of $17.83 billion, a PE ratio of 11.80, a P/E/G ratio of 2.25 and a beta of 0.43.

Dollar General (NYSE:DG) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same period in the prior year, the firm posted $2.13 earnings per share. Dollar General’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Dollar General Co. will post 6.45 earnings per share for the current year.

Dollar General Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 2.91%. Dollar General’s dividend payout ratio is presently 34.35%.

Dollar General 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.