Toronto Dominion Bank Cuts Stock Position in Dollar General Co. (NYSE:DG)

Toronto Dominion Bank decreased its holdings in shares of Dollar General Co. (NYSE:DG) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,242 shares of the company’s stock after selling 11,145 shares during the period. Toronto Dominion Bank’s holdings in Dollar General were worth $8,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Studio Investment Management LLC raised its holdings in shares of Dollar General by 117.7% during the second quarter. Studio Investment Management LLC now owns 283 shares of the company’s stock valued at $37,000 after acquiring an additional 153 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Dollar General in the 2nd quarter valued at $37,000. Quarry LP purchased a new position in Dollar General in the 2nd quarter valued at $46,000. Pathway Financial Advisers LLC boosted its stake in Dollar General by 30.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 376 shares of the company’s stock worth $50,000 after purchasing an additional 88 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Dollar General during the third quarter worth $57,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DG. BMO Capital Markets raised their price target on shares of Dollar General from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Raymond James lowered their target price on Dollar General from $150.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Morgan Stanley cut Dollar General from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $170.00 to $100.00 in a report on Friday, August 30th. HSBC lowered their price objective on Dollar General from $100.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, UBS Group cut their target price on Dollar General from $155.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.27.

Dollar General Stock Down 1.9 %

Dollar General stock opened at $76.94 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.15 and a current ratio of 1.15. The firm has a 50 day moving average price of $79.15 and a 200 day moving average price of $101.39. Dollar General Co. has a fifty-two week low of $72.12 and a fifty-two week high of $168.07. The company has a market capitalization of $16.92 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.37 and a beta of 0.44.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). Dollar General had a net margin of 3.33% and a return on equity of 18.85%. The firm had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Dollar General Co. will post 5.77 earnings per share for the current year.

Dollar General Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, January 7th. Dollar General’s payout ratio is 38.88%.

Insider Activity at Dollar General

In other Dollar General news, EVP Steven R. Deckard sold 2,010 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $86.66, for a total value of $174,186.60. Following the completion of the transaction, the executive vice president now owns 2,887 shares of the company’s stock, valued at $250,187.42. This trade represents a 41.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

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.