Bank of Montreal Can Raises Position in Dollar General Corporation (NYSE:DG)
Bank of Montreal Can raised its position in Dollar General Corporation (NYSE:DG) by 68.1% during the second quarter, Holdings Channel reports. The firm owned 392,478 shares of the company’s stock after buying an additional 159,036 shares during the period. Bank of Montreal Can’s holdings in Dollar General Corporation were worth $28,293,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in Dollar General Corporation during the fourth quarter valued at about $309,000. Aldebaran Financial Inc. increased its position in Dollar General Corporation by 1.1% in the fourth quarter. Aldebaran Financial Inc. now owns 19,140 shares of the company’s stock valued at $1,418,000 after buying an additional 214 shares in the last quarter. Hendley & Co. Inc. increased its position in Dollar General Corporation by 0.5% in the fourth quarter. Hendley & Co. Inc. now owns 25,415 shares of the company’s stock valued at $1,882,000 after buying an additional 115 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Dollar General Corporation during the fourth quarter valued at about $1,366,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Dollar General Corporation during the fourth quarter valued at about $610,000. Institutional investors and hedge funds own 85.15% of the company’s stock.
Dollar General Corporation (NYSE:DG) opened at 71.14 on Monday. The firm’s 50-day moving average price is $72.76 and its 200-day moving average price is $72.93. Dollar General Corporation has a 12-month low of $65.97 and a 12-month high of $96.88. The company has a market cap of $19.51 billion, a PE ratio of 16.08 and a beta of 0.92.
Dollar General Corporation (NYSE:DG) last announced its quarterly earnings data on Thursday, June 1st. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.03. Dollar General Corporation had a net margin of 5.53% and a return on equity of 23.07%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Dollar General Corporation will post $4.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Tuesday, July 11th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, July 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.46%. Dollar General Corporation’s dividend payout ratio is currently 23.48%.
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DG has been the topic of several research reports. Zacks Investment Research downgraded Dollar General Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Credit Suisse Group downgraded Dollar General Corporation from a “neutral” rating to an “underperform” rating and set a $62.00 price objective on the stock. in a report on Thursday, March 23rd. Vetr downgraded Dollar General Corporation from a “strong-buy” rating to a “buy” rating and set a $76.50 price objective on the stock. in a report on Monday, March 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $78.00 price objective on shares of Dollar General Corporation in a report on Thursday, April 6th. Finally, Buckingham Research reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Dollar General Corporation in a report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $80.89.
About Dollar General Corporation
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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