CIBC Asset Management Inc Grows Stake in Dollar General Co. (NYSE:DG)

CIBC Asset Management Inc raised its position in Dollar General Co. (NYSE:DG) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,078 shares of the company’s stock after buying an additional 2,029 shares during the quarter. CIBC Asset Management Inc’s holdings in Dollar General were worth $2,882,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in Dollar General in the 2nd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Dollar General in the second quarter worth about $33,000. Studio Investment Management LLC grew its stake in shares of Dollar General by 117.7% in the 2nd quarter. Studio Investment Management LLC now owns 283 shares of the company’s stock worth $37,000 after buying an additional 153 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Dollar General in the 2nd quarter worth about $37,000. Finally, TruNorth Capital Management LLC purchased a new position in Dollar General during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

DG has been the topic of a number of recent research reports. Barclays dropped their price objective on Dollar General from $154.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. The Goldman Sachs Group lowered 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. Bernstein Bank dropped their price target on shares of Dollar General from $98.00 to $94.00 in a research report on Friday. Bank of America cut their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating for the company in a research note on Friday, August 30th. Finally, Loop Capital dropped their price target on Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.00.

Insider Transactions at Dollar General

In related news, Director Warren F. Bryant purchased 500 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $80.40 per share, for a total transaction of $40,200.00. Following the purchase, the director now owns 41,030 shares of the company’s stock, valued at $3,298,812. This trade represents a 1.23 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Roderick J. West sold 2,510 shares of Dollar General stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.25, for a total value of $208,957.50. Following the sale, the executive vice president now directly owns 9,163 shares of the company’s stock, valued at $762,819.75. This trade represents a 21.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Dollar General Trading Up 1.6 %

NYSE:DG opened at $77.09 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.24 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $16.95 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.45. Dollar General Co. has a 12 month low of $73.51 and a 12 month high of $168.07. The firm’s 50 day moving average is $81.77 and its 200 day moving average is $109.57.

Dollar General (NYSE:DG) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) 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 business had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the company posted $2.13 EPS. Dollar General’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Dollar General Co. will post 5.86 earnings per share for the current year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $2.36 annualized dividend and a yield of 3.06%. Dollar General’s dividend payout ratio (DPR) is 36.65%.

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.