Principal Financial Group Inc. Trims Stock Position in Dollar General Corp. (NYSE:DG)

Principal Financial Group Inc. lowered its position in shares of Dollar General Corp. (NYSE:DG) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,232,787 shares of the company’s stock after selling 60,515 shares during the period. Principal Financial Group Inc. owned about 0.86% of Dollar General worth $266,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DG. BlackRock Inc. increased its holdings in Dollar General by 3.2% during the 1st quarter. BlackRock Inc. now owns 22,910,261 shares of the company’s stock valued at $2,733,192,000 after purchasing an additional 703,219 shares during the period. Vanguard Group Inc increased its holdings in Dollar General by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 19,201,573 shares of the company’s stock valued at $2,098,732,000 after purchasing an additional 370,008 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Dollar General by 10,128.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,752,166 shares of the company’s stock valued at $90,000 after purchasing an additional 9,656,820 shares during the period. FMR LLC increased its holdings in Dollar General by 21.3% during the 4th quarter. FMR LLC now owns 7,274,966 shares of the company’s stock valued at $786,278,000 after purchasing an additional 1,278,052 shares during the period. Finally, Polen Capital Management LLC increased its holdings in Dollar General by 1.5% during the 4th quarter. Polen Capital Management LLC now owns 7,155,529 shares of the company’s stock valued at $773,370,000 after purchasing an additional 105,776 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

DG stock traded down $1.30 during trading on Friday, reaching $135.16. The company’s stock had a trading volume of 2,349,319 shares, compared to its average volume of 2,018,456. Dollar General Corp. has a 1 year low of $96.37 and a 1 year high of $139.78. The company has a quick ratio of 0.12, a current ratio of 1.16 and a debt-to-equity ratio of 1.52. The firm has a market cap of $35.25 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.93 and a beta of 0.69. The company has a fifty day moving average price of $128.74.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. Dollar General had a return on equity of 25.03% and a net margin of 6.16%. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the business posted $1.36 EPS. Dollar General’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Dollar General Corp. will post 6.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, July 8th. Dollar General’s dividend payout ratio (DPR) is presently 21.44%.

In other Dollar General news, EVP Robert D. Ravener sold 38,659 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $119.84, for a total transaction of $4,632,894.56. Following the completion of the transaction, the executive vice president now owns 39,739 shares of the company’s stock, valued at approximately $4,762,321.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Ravener sold 8,973 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $123.82, for a total transaction of $1,111,036.86. Following the completion of the transaction, the executive vice president now directly owns 17,794 shares of the company’s stock, valued at approximately $2,203,253.08. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on DG. Oppenheimer boosted their price target on Dollar General from $135.00 to $150.00 and gave the company a “top pick” rating in a report on Thursday, June 13th. Buckingham Research reiterated a “positive” rating and set a $152.00 target price (up previously from $125.00) on shares of Dollar General in a report on Friday, May 31st. Bank of America set a $133.00 target price on Dollar General and gave the stock a “buy” rating in a report on Wednesday, April 10th. Citigroup upped their target price on Dollar General from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank downgraded Dollar General from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $133.33.

Dollar General Company Profile

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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