Norway Savings Bank Acquires New Position in Dollar General Corp. (NYSE:DG)

Norway Savings Bank acquired a new stake in Dollar General Corp. (NYSE:DG) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 150 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its position in shares of Dollar General by 0.4% during the first quarter. State Street Corp now owns 11,394,721 shares of the company’s stock valued at $1,720,717,000 after buying an additional 45,463 shares during the period. Capital World Investors increased its position in shares of Dollar General by 126.1% during the first quarter. Capital World Investors now owns 11,081,796 shares of the company’s stock valued at $1,673,462,000 after buying an additional 6,181,380 shares during the period. FMR LLC increased its position in shares of Dollar General by 22.3% during the second quarter. FMR LLC now owns 9,791,830 shares of the company’s stock valued at $1,865,441,000 after buying an additional 1,785,155 shares during the period. Bank of New York Mellon Corp increased its position in shares of Dollar General by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 3,313,649 shares of the company’s stock valued at $631,284,000 after buying an additional 101,488 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Dollar General by 1.6% during the second quarter. California Public Employees Retirement System now owns 2,137,185 shares of the company’s stock valued at $407,155,000 after buying an additional 34,649 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

DG opened at $221.71 on Friday. The stock has a fifty day simple moving average of $206.83 and a two-hundred day simple moving average of $190.13. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.56. The company has a market cap of $55.21 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.99 and a beta of 0.46. Dollar General Corp. has a 12-month low of $125.00 and a 12-month high of $224.82.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 27th. The company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.68. Dollar General had a return on equity of 33.51% and a net margin of 7.48%. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the company earned $1.74 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. On average, analysts predict that Dollar General Corp. will post 10 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, October 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. Dollar General’s payout ratio is presently 21.40%.

In other news, CFO John W. Garratt sold 8,759 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $201.20, for a total transaction of $1,762,310.80. Following the completion of the transaction, the chief financial officer now directly owns 14,924 shares in the company, valued at $3,002,708.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven G. Sunderland sold 1,800 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $203.21, for a total value of $365,778.00. Following the transaction, the executive vice president now owns 9,654 shares of the company’s stock, valued at $1,961,789.34. The disclosure for this sale can be found here. Insiders have sold 99,435 shares of company stock valued at $19,984,494 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

DG has been the topic of several analyst reports. Telsey Advisory Group upped their price target on Dollar General from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Monday, August 24th. Raymond James restated a “buy” rating and issued a $235.00 price objective on shares of Dollar General in a research report on Friday, August 28th. Bank of America upped their price objective on shares of Dollar General from $220.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Oppenheimer restated a “buy” rating and issued a $225.00 price objective on shares of Dollar General in a research report on Thursday, August 27th. Finally, KeyCorp upped their target price on Dollar General from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Dollar General presently has an average rating of “Buy” and an average target price of $215.27.

Dollar General Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.

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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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