Insider Selling: Family Dollar Stores CEO Sells 172,415 Shares of Stock (FDO)
Family Dollar Stores (NYSE:FDO) CEO Howard Levine unloaded 172,415 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $69.71, for a total transaction of $12,019,049.65. Following the completion of the transaction, the chief executive officer now directly owns 4,295,477 shares in the company, valued at approximately $299,437,702. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Family Dollar Stores (NYSE:FDO) traded down 1.02% on Tuesday, hitting $68.92. 1,116,610 shares of the company’s stock traded hands. Family Dollar Stores has a one year low of $54.06 and a one year high of $75.29. The stock’s 50-day moving average is $71.75 and its 200-day moving average is $66.49. The company has a market cap of $7.929 billion and a price-to-earnings ratio of 18.18.
Family Dollar Stores (NYSE:FDO) last posted its quarterly earnings results on Wednesday, October 9th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.02. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Analysts expect that Family Dollar Stores will post $4.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, September 11th.
Several analysts have recently commented on the stock. Analysts at Sterne Agee raised their price target on shares of Family Dollar Stores from $61.00 to $62.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of Family Dollar Stores from $59.00 to $62.00 in a research note to investors on Thursday, October 10th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. cut their price target on shares of Family Dollar Stores from $70.00 to $67.00 in a research note to investors on Thursday, October 10th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $66.11.
Family Dollar Stores, Inc operates a chain of more than 7,400 general merchandise retail discount stores in 45 states, providing consumers with a selection of merchandise in neighborhood stores.
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