Park National Corp OH Cuts Position in Dollar General Co. (NYSE:DG)

Park National Corp OH decreased its holdings in Dollar General Co. (NYSE:DG) by 76.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,521 shares of the company’s stock after selling 4,908 shares during the quarter. Park National Corp OH’s holdings in Dollar General were worth $237,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DG. McGlone Suttner Wealth Management Inc. purchased a new position in Dollar General in the fourth quarter valued at approximately $25,000. Studio Investment Management LLC purchased a new stake in shares of Dollar General during the third quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new stake in shares of Dollar General during the fourth quarter valued at approximately $26,000. Fortis Group Advisors LLC raised its stake in shares of Dollar General by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. raised its stake in shares of Dollar General by 78.0% during the fourth quarter. MV Capital Management Inc. now owns 219 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Dollar General Stock Performance

Shares of NYSE DG traded down $1.49 during midday trading on Tuesday, reaching $125.40. 1,052,503 shares of the company traded hands, compared to its average volume of 2,405,449. Dollar General Co. has a 52 week low of $101.09 and a 52 week high of $173.47. The stock has a 50-day moving average price of $139.26 and a 200 day moving average price of $140.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.22 and a quick ratio of 0.18. The company has a market cap of $27.58 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.47 and a beta of 0.45.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.57 by $0.08. Dollar General had a net margin of 3.85% and a return on equity of 22.80%. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.89 billion. During the same period in the previous year, the business earned $2.34 earnings per share. Dollar General’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Dollar General Co. will post 7.21 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, July 9th. Dollar General’s dividend payout ratio (DPR) is presently 34.35%.

Insiders Place Their Bets

In other Dollar General news, EVP Carman R. Wenkoff sold 5,909 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $162.23, for a total transaction of $958,617.07. Following the sale, the executive vice president now owns 28,579 shares in the company, valued at approximately $4,636,371.17. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Dollar General news, Director Ralph Santana sold 3,009 shares of Dollar General stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $155.72, for a total transaction of $468,561.48. Following the transaction, the director now owns 3,248 shares of the company’s stock, valued at approximately $505,778.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Carman R. Wenkoff sold 5,909 shares of Dollar General stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $162.23, for a total value of $958,617.07. Following the transaction, the executive vice president now directly owns 28,579 shares in the company, valued at approximately $4,636,371.17. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Dollar General from $162.00 to $160.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price target on shares of Dollar General from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Truist Financial dropped their price target on shares of Dollar General from $140.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Argus lifted their price target on shares of Dollar General from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Dollar General from $161.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $148.41.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.