Envestnet Asset Management Inc. Reduces Stake in Dollar General Co. (NYSE:DG)

Envestnet Asset Management Inc. lowered its stake in Dollar General Co. (NYSE:DG) by 42.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,410 shares of the company’s stock after selling 464,825 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Dollar General worth $83,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Dollar General by 162.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock valued at $2,472,372,000 after buying an additional 11,257,537 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Dollar General by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock valued at $3,408,514,000 after buying an additional 3,360,413 shares during the last quarter. Norges Bank bought a new position in shares of Dollar General during the fourth quarter valued at approximately $337,150,000. Capital International Investors grew its stake in shares of Dollar General by 13.9% during the fourth quarter. Capital International Investors now owns 18,676,538 shares of the company’s stock valued at $2,539,026,000 after buying an additional 2,273,119 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new position in shares of Dollar General during the first quarter valued at approximately $301,738,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DG. The Goldman Sachs Group cut their target price on Dollar General from $169.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Evercore ISI dropped their price objective on Dollar General from $139.00 to $100.00 and set an “in-line” rating on the stock in a research note on Friday, August 30th. Bank of America dropped their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating on the stock in a research note on Friday, August 30th. Daiwa America cut Dollar General from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Dollar General from $130.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.95.

Insider Buying and Selling

In other news, Director Warren F. Bryant bought 500 shares of Dollar General stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average price of $80.40 per share, for a total transaction of $40,200.00. Following the purchase, the director now directly owns 41,030 shares of the company’s stock, valued at approximately $3,298,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Roderick J. West sold 2,510 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 9,163 shares in the company, valued at approximately $762,819.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Warren F. Bryant acquired 500 shares of Dollar General stock in a transaction on Thursday, September 5th. The shares were bought at an average price of $80.40 per share, with a total value of $40,200.00. Following the purchase, the director now directly owns 41,030 shares in the company, valued at approximately $3,298,812. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by company insiders.

Dollar General Stock Up 0.3 %

Dollar General stock opened at $86.00 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 2.36 and a beta of 0.44. Dollar General Co. has a 1-year low of $77.96 and a 1-year high of $168.07. The business has a fifty day moving average price of $111.06 and a 200-day moving average price of $131.10.

Dollar General (NYSE:DG) last posted its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.37 billion. Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The firm’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 business earned $2.13 EPS. Equities research analysts forecast that Dollar General Co. will post 5.85 EPS for the current fiscal year.

Dollar General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.74%. Dollar General’s dividend payout ratio (DPR) is 34.35%.

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.