Water Island Capital LLC Takes Position in Dollar General Corp. (DG)

Water Island Capital LLC purchased a new stake in Dollar General Corp. (NYSE:DG) during the 1st quarter, HoldingsChannel reports. The fund purchased 16,809 shares of the company’s stock, valued at approximately $2,005,000.

Several other large investors have also made changes to their positions in DG. WESPAC Advisors SoCal LLC acquired a new stake in shares of Dollar General during the 4th quarter worth approximately $30,000. Ellis Investment Partners LLC acquired a new stake in shares of Dollar General during the 1st quarter worth approximately $30,000. Whittier Trust Co. boosted its position in shares of Dollar General by 66.3% during the 4th quarter. Whittier Trust Co. now owns 291 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares in the last quarter. We Are One Seven LLC acquired a new stake in shares of Dollar General during the 4th quarter worth approximately $35,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Dollar General by 282.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 382 shares of the company’s stock worth $41,000 after acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 97.34% of the company’s stock.

In related news, EVP Rhonda Taylor sold 16,636 shares of Dollar General stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $119.64, for a total transaction of $1,990,331.04. Following the completion of the transaction, the executive vice president now owns 33,513 shares of the company’s stock, valued at $4,009,495.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert D. Ravener sold 8,973 shares of Dollar General stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $123.82, for a total transaction of $1,111,036.86. Following 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. Insiders have sold 143,255 shares of company stock valued at $17,037,351 in the last ninety days. Insiders own 0.55% of the company’s stock.

Several analysts recently issued reports on the stock. Loop Capital upgraded shares of Dollar General from a “hold” rating to a “buy” rating and increased their price target for the stock from $105.00 to $152.00 in a research report on Tuesday, April 30th. Morgan Stanley increased their price target on shares of Dollar General from $118.00 to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Bank of America set a $133.00 price objective on shares of Dollar General and gave the company a “buy” rating in a research note on Wednesday, April 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $126.00 price objective on shares of Dollar General in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dollar General from $121.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $122.55.

Shares of DG stock traded down $0.49 during trading hours on Wednesday, hitting $116.79. 29,294 shares of the company’s stock traded hands, compared to its average volume of 1,328,905. The company has a market capitalization of $30.65 billion, a P/E ratio of 19.56, a PEG ratio of 1.48 and a beta of 0.72. Dollar General Corp. has a 12 month low of $86.87 and a 12 month high of $126.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 1.55.

Dollar General (NYSE:DG) last released its quarterly earnings results on Thursday, March 14th. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($0.05). The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.61 billion. Dollar General had a net margin of 6.20% and a return on equity of 25.04%. Dollar General’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. As a group, sell-side analysts forecast that Dollar General Corp. will post 6.42 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, April 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.10%. This is an increase from Dollar General’s previous quarterly dividend of $0.29. Dollar General’s dividend payout ratio (DPR) is presently 21.44%.

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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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