Westpac Banking Corp boosted its holdings in shares of Dollar General Co. (NYSE:DG) by 86.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,814 shares of the company’s stock after purchasing an additional 19,424 shares during the quarter. Westpac Banking Corp’s holdings in Dollar General were worth $8,765,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Newfound Research LLC bought a new stake in shares of Dollar General during the third quarter valued at approximately $30,000. Norway Savings Bank purchased a new stake in Dollar General in the 3rd quarter worth $31,000. Creative Financial Designs Inc. ADV bought a new position in shares of Dollar General during the 2nd quarter valued at about $38,000. Rockbridge Investment Management LCC purchased a new position in shares of Dollar General during the second quarter valued at about $42,000. Finally, CX Institutional increased its holdings in shares of Dollar General by 95.6% in the second quarter. CX Institutional now owns 221 shares of the company’s stock worth $42,000 after purchasing an additional 108 shares during the last quarter. 82.37% of the stock is currently owned by institutional investors.
Dollar General stock opened at $210.23 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 0.59. The stock has a market cap of $52.35 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.89 and a beta of 0.54. The firm has a 50-day moving average of $215.25 and a two-hundred day moving average of $197.79. Dollar General Co. has a 1 year low of $125.00 and a 1 year high of $225.25.
Dollar General (NYSE:DG) last issued its earnings results on Thursday, August 27th. The company reported $3.12 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.68. Dollar General had a net margin of 7.48% and a return on equity of 33.51%. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the company posted $1.74 earnings per share. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts expect that Dollar General Co. will post 10.15 earnings per share for the current year.
Several equities analysts have weighed in on the company. KeyCorp raised their price target on Dollar General from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, August 31st. Wolfe Research initiated coverage on shares of Dollar General in a research note on Friday, October 9th. They set an “outperform” rating and a $250.00 price target on the stock. Morgan Stanley increased their price objective on shares of Dollar General from $222.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Credit Suisse Group restated a “neutral” rating and issued a $182.00 target price on shares of Dollar General in a report on Wednesday, August 5th. Finally, Raymond James reaffirmed a “buy” rating and issued a $235.00 price target on shares of Dollar General in a report on Friday, August 28th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $215.27.
In other news, EVP Steven G. Sunderland sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $203.21, for a total value of $365,778.00. Following the completion of the sale, the executive vice president now owns 9,654 shares of the company’s stock, valued at approximately $1,961,789.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John W. Garratt sold 8,759 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $201.20, for a total transaction of $1,762,310.80. Following the transaction, the chief financial officer now owns 14,924 shares in the company, valued at $3,002,708.80. The disclosure for this sale can be found here. Insiders sold a total of 99,435 shares of company stock valued at $19,984,494 over the last quarter. Company insiders own 0.72% of the company’s stock.
About Dollar General
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry products; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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