Investment Management Corp of Ontario Buys 2,300 Shares of Dollar General Co. (NYSE:DG)

Investment Management Corp of Ontario grew its stake in shares of Dollar General Co. (NYSE:DG) by 46.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,258 shares of the company’s stock after buying an additional 2,300 shares during the period. Investment Management Corp of Ontario’s holdings in Dollar General were worth $614,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Mather Group LLC. raised its holdings in Dollar General by 99.2% in the 2nd quarter. Mather Group LLC. now owns 759 shares of the company’s stock valued at $100,000 after acquiring an additional 378 shares in the last quarter. MJP Associates Inc. ADV lifted its position in Dollar General by 32.5% in the second quarter. MJP Associates Inc. ADV now owns 3,956 shares of the company’s stock worth $523,000 after purchasing an additional 970 shares during the period. Czech National Bank lifted its position in Dollar General by 8.4% in the second quarter. Czech National Bank now owns 41,860 shares of the company’s stock worth $5,535,000 after purchasing an additional 3,240 shares during the period. Artemis Investment Management LLP acquired a new stake in Dollar General during the second quarter worth $10,474,000. Finally, Dynamic Advisor Solutions LLC increased its holdings in Dollar General by 3.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 4,341 shares of the company’s stock valued at $574,000 after buying an additional 143 shares during the period. Institutional investors own 91.77% of the company’s stock.

Dollar General Price Performance

Dollar General stock opened at $81.62 on Friday. The business’s 50-day simple moving average is $79.63 and its 200 day simple moving average is $104.26. 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 stock has a market cap of $17.95 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.31 and a beta of 0.44. Dollar General Co. has a 12-month low of $72.12 and a 12-month high of $168.07.

Dollar General (NYSE:DG) last issued its earnings results on Thursday, December 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.08). The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.14 billion. Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. As a group, research analysts anticipate that Dollar General Co. will post 5.85 earnings per share for the current year.

Dollar General Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Tuesday, January 7th. Dollar General’s payout ratio is 36.65%.

Analyst Ratings Changes

Several analysts have recently weighed in on DG shares. Evercore ISI decreased their target price on shares of Dollar General from $97.00 to $95.00 and set an “in-line” rating on the stock in a research report on Tuesday. BMO Capital Markets raised their price target on shares of Dollar General from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday. HSBC lowered their price objective on Dollar General from $100.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Bernstein Bank cut their target price on Dollar General from $98.00 to $94.00 in a research report on Friday, November 15th. Finally, Citigroup cut Dollar General from a “neutral” rating to a “sell” rating and lowered their price target for the company from $91.00 to $73.00 in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.27.

Insider Activity

In related news, EVP Steven R. Deckard sold 2,010 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $86.66, for a total value of $174,186.60. Following the sale, the executive vice president now directly owns 2,887 shares in the company, valued at $250,187.42. This trade represents a 41.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Roderick J. West sold 2,510 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.25, for a total transaction 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. This represents a 21.50 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company 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.