WESPAC Advisors SoCal LLC purchased a new stake in Dollar General Co. (NYSE:DG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,907 shares of the company’s stock, valued at approximately $4,178,000. Dollar General makes up approximately 2.0% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 21st biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in DG. Contravisory Investment Management Inc. acquired a new position in Dollar General in the second quarter valued at approximately $26,000. Newfound Research LLC acquired a new stake in shares of Dollar General in the third quarter valued at approximately $30,000. Norway Savings Bank acquired a new stake in shares of Dollar General in the third quarter valued at approximately $31,000. Larson Financial Group LLC acquired a new stake in shares of Dollar General in the second quarter valued at approximately $33,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Dollar General in the second quarter valued at approximately $38,000. 91.08% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DG traded down $3.15 during midday trading on Monday, hitting $212.29. The stock had a trading volume of 32,103 shares, compared to its average volume of 2,205,992. The company has a market capitalization of $53.65 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.94 and a beta of 0.46. Dollar General Co. has a 1-year low of $125.00 and a 1-year high of $224.82. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $209.36 and a 200 day moving average price of $192.40.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, October 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.68%. Dollar General’s payout ratio is currently 21.40%.
In related news, CFO John W. Garratt sold 8,759 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $201.20, for a total transaction of $1,762,310.80. Following the sale, the chief financial officer now directly owns 14,924 shares in the company, valued at approximately $3,002,708.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd J. Vasos sold 37,237 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $200.07, for a total value of $7,450,006.59. Following the sale, the chief executive officer now owns 301,879 shares in the company, valued at $60,396,931.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,435 shares of company stock worth $19,984,494. Company insiders own 0.72% of the company’s stock.
Several research firms have recently weighed in on DG. Wolfe Research began coverage on Dollar General in a report on Friday, October 9th. They issued an “outperform” rating and a $250.00 price objective for the company. Credit Suisse Group reissued a “neutral” rating and issued a $182.00 price objective on shares of Dollar General in a report on Wednesday, August 5th. Loop Capital upped their price target on Dollar General from $190.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 1st. They noted that the move was a valuation call. Raymond James restated a “buy” rating and set a $235.00 price target on shares of Dollar General in a research note on Friday, August 28th. Finally, BMO Capital Markets upped their price target on Dollar General from $200.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $215.27.
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 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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