Canada Pension Plan Investment Board Purchases 240,199 Shares of Dollar General Co. (NYSE:DG)

Canada Pension Plan Investment Board lifted its position in Dollar General Co. (NYSE:DG) by 86.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 518,016 shares of the company’s stock after purchasing an additional 240,199 shares during the quarter. Canada Pension Plan Investment Board owned about 0.24% of Dollar General worth $68,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in 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 purchasing an additional 3,360,413 shares during the last quarter. Capital International Investors lifted its holdings in shares of Dollar General by 11.3% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD grew its position in Dollar General by 11.2% in the first 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. Capital World Investors increased its stake in Dollar General by 1.0% in the fourth quarter. Capital World Investors now owns 13,068,256 shares of the company’s stock valued at $1,776,629,000 after acquiring an additional 133,591 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Dollar General during the first quarter valued at about $301,738,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Dollar General Stock Performance

NYSE:DG opened at $86.01 on Friday. The company has a quick ratio of 0.24, a current ratio of 1.22 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $108.42 and its 200 day simple moving average is $129.87. The stock has a market cap of $18.91 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 2.36 and a beta of 0.44. Dollar General Co. has a twelve month low of $77.96 and a twelve month high of $168.07.

Dollar General (NYSE:DG) last announced its earnings results 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). Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The company had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.37 billion. During the same period in the previous year, the firm posted $2.13 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts predict that Dollar General Co. will post 5.85 EPS for the current year.

Dollar General Dividend Announcement

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

Analyst Upgrades and Downgrades

DG has been the topic of several recent research reports. Bank of America reduced their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating on the stock in a research report on Friday, August 30th. BMO Capital Markets reduced their price target 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. Piper Sandler cut their price objective on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Daiwa America lowered shares of Dollar General from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Raymond James lowered their price target on shares of Dollar General from $150.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $113.95.

Insider Buying and Selling

In other Dollar General 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 transaction of $208,957.50. Following the completion of the transaction, the executive vice president now owns 9,163 shares of the company’s stock, valued at $762,819.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Warren F. Bryant acquired 1,000 shares of Dollar General stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $80.83 per share, with a total value of $80,830.00. Following the transaction, the director now directly owns 42,030 shares in the company, valued at $3,397,284.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roderick J. West sold 2,510 shares of Dollar General stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.25, for a total value of $208,957.50. Following the transaction, the executive vice president now owns 9,163 shares of the company’s stock, valued at approximately $762,819.75. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

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.