M&T Bank Corp Cuts Stock Position in Dollar General Co. (NYSE:DG)

M&T Bank Corp trimmed its holdings in Dollar General Co. (NYSE:DG) by 25.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,384 shares of the company’s stock after selling 10,709 shares during the period. M&T Bank Corp’s holdings in Dollar General were worth $2,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Swedbank AB grew its stake in Dollar General by 21.4% during the second quarter. Swedbank AB now owns 101,424 shares of the company’s stock valued at $13,411,000 after acquiring an additional 17,849 shares in the last quarter. Blue Trust Inc. grew its position in shares of Dollar General by 38.4% during the second quarter. Blue Trust Inc. now owns 790 shares of the company’s stock valued at $104,000 after purchasing an additional 219 shares in the last quarter. TCW Group Inc. increased its holdings in shares of Dollar General by 15.4% in the second quarter. TCW Group Inc. now owns 12,437 shares of the company’s stock worth $1,645,000 after purchasing an additional 1,661 shares during the last quarter. Boomfish Wealth Group LLC lifted its position in shares of Dollar General by 30.0% in the second quarter. Boomfish Wealth Group LLC now owns 6,693 shares of the company’s stock worth $885,000 after buying an additional 1,545 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Dollar General by 3.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 203,880 shares of the company’s stock valued at $26,959,000 after buying an additional 6,144 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.

Insiders Place Their Bets

In other Dollar General news, EVP Steven R. Deckard sold 2,010 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $86.66, for a total value of $174,186.60. Following the completion of the sale, the executive vice president now owns 2,887 shares of the company’s stock, valued at approximately $250,187.42. This trade represents a 41.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Dollar General Stock Performance

DG stock opened at $76.94 on Friday. Dollar General Co. has a 1-year low of $72.12 and a 1-year high of $168.07. The business has a 50-day moving average price of $79.15 and a 200 day moving average price of $101.68. The company has a market capitalization of $16.92 billion, a P/E ratio of 12.68, a PEG ratio of 2.37 and a beta of 0.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.15 and a quick ratio of 0.15.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). Dollar General had a return on equity of 18.85% and a net margin of 3.33%. The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Dollar General Co. will post 5.77 EPS for the current fiscal year.

Dollar General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $2.36 annualized dividend and a yield of 3.07%. Dollar General’s dividend payout ratio (DPR) is presently 38.88%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DG shares. BMO Capital Markets lifted their price objective on Dollar General from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Melius Research began coverage on shares of Dollar General in a research note on Monday, September 23rd. They set a “hold” rating and a $85.00 price target on the stock. Daiwa America cut shares of Dollar General from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Loop Capital decreased their target price on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, Gordon Haskett upgraded Dollar General from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Dollar General has a consensus rating of “Hold” and an average price target of $98.27.

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.