M&T Bank Corp Decreases Holdings in Dollar General Corp. (NYSE:DG)

M&T Bank Corp cut its holdings in shares of Dollar General Corp. (NYSE:DG) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,761 shares of the company’s stock after selling 4,981 shares during the quarter. M&T Bank Corp’s holdings in Dollar General were worth $6,050,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DG. State Street Corp grew its holdings in shares of Dollar General by 0.4% in the first quarter. State Street Corp now owns 11,394,721 shares of the company’s stock worth $1,720,717,000 after purchasing an additional 45,463 shares during the last quarter. Capital World Investors grew its holdings in shares of Dollar General by 126.1% in the first quarter. Capital World Investors now owns 11,081,796 shares of the company’s stock worth $1,673,462,000 after purchasing an additional 6,181,380 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Dollar General by 5.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,391,868 shares of the company’s stock worth $512,204,000 after purchasing an additional 174,476 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Dollar General by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 3,212,161 shares of the company’s stock worth $485,067,000 after purchasing an additional 332,917 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Dollar General by 30.7% in the first quarter. Janus Henderson Group PLC now owns 2,066,665 shares of the company’s stock worth $312,093,000 after purchasing an additional 485,346 shares during the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on DG. Deutsche Bank raised their target price on shares of Dollar General from $159.00 to $187.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Guggenheim lifted their price target on shares of Dollar General from $170.00 to $210.00 in a report on Monday, June 15th. Telsey Advisory Group lifted their price target on shares of Dollar General from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Bank of America lifted their price target on shares of Dollar General from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Loop Capital lifted their price target on shares of Dollar General from $190.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $196.21.

In other Dollar General news, EVP Rhonda Taylor sold 41,313 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $191.21, for a total transaction of $7,899,458.73. Following the completion of the sale, the executive vice president now directly owns 36,432 shares in the company, valued at approximately $6,966,162.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carman R. Wenkoff sold 7,300 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $190.13, for a total value of $1,387,949.00. Following the sale, the executive vice president now owns 12,922 shares of the company’s stock, valued at $2,456,859.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,645 shares of company stock valued at $11,414,046. Corporate insiders own 0.72% of the company’s stock.

DG opened at $190.40 on Friday. The stock has a 50-day moving average price of $189.51 and a 200-day moving average price of $171.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.44 and a quick ratio of 0.60. The firm has a market cap of $47.93 billion, a PE ratio of 24.63, a P/E/G ratio of 1.72 and a beta of 0.53. Dollar General Corp. has a 1 year low of $125.00 and a 1 year high of $195.82.

Dollar General (NYSE:DG) last issued its earnings results on Thursday, May 28th. The company reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.86. Dollar General had a return on equity of 29.33% and a net margin of 6.69%. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. Dollar General’s revenue was up 27.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Dollar General Corp. will post 8.87 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.36 per share. The ex-dividend date was Monday, July 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.76%. Dollar General’s dividend payout ratio is currently 21.40%.

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 and other home cleaning supplies; 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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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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