PNC Financial Services Group Inc. Sells 29,026 Shares of Dollar General Co. (NYSE:DG)

PNC Financial Services Group Inc. cut its position in shares of Dollar General Co. (NYSE:DG) by 26.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 80,477 shares of the company’s stock after selling 29,026 shares during the period. PNC Financial Services Group Inc.’s holdings in Dollar General were worth $10,941,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Dollar General by 79.7% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,379 shares of the company’s stock worth $731,000 after acquiring an additional 2,386 shares in the last quarter. Norges Bank purchased a new stake in Dollar General during the fourth quarter valued at $337,150,000. Manchester Capital Management LLC lifted its position in Dollar General by 8.5% during the fourth quarter. Manchester Capital Management LLC now owns 1,937 shares of the company’s stock valued at $263,000 after purchasing an additional 152 shares during the last quarter. Hamel Associates Inc. grew its stake in shares of Dollar General by 7.3% in the 4th quarter. Hamel Associates Inc. now owns 48,902 shares of the company’s stock worth $6,648,000 after buying an additional 3,345 shares in the last quarter. Finally, NorthRock Partners LLC bought a new stake in shares of Dollar General in the 4th quarter worth about $412,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Insider Activity at Dollar General

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

Analyst Ratings Changes

Several equities research analysts have weighed in on DG shares. Raymond James boosted their price objective on Dollar General from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. upped their target price on Dollar General from $158.00 to $161.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their price objective on Dollar General from $147.00 to $169.00 and gave the company a “buy” rating in a report on Friday, March 15th. Wells Fargo & Company boosted their price objective on shares of Dollar General from $125.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Finally, BMO Capital Markets increased their price objective on Dollar General from $130.00 to $160.00 and gave the stock a “market perform” rating in a research note on Friday, March 15th. Fifteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.08.

Dollar General Stock Performance

Shares of DG stock opened at $141.55 on Thursday. The company has a quick ratio of 0.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.92. Dollar General Co. has a 52-week low of $101.09 and a 52-week high of $210.25. The business has a 50-day simple moving average of $147.07 and a 200-day simple moving average of $138.74. The stock has a market cap of $31.09 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 2.82 and a beta of 0.44.

Dollar General (NYSE:DG) last posted its earnings results on Thursday, March 14th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. The firm had revenue of $9.86 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Dollar General had a net margin of 4.29% and a return on equity of 26.13%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.96 EPS. On average, equities analysts expect that Dollar General Co. will post 7.27 EPS for the current year.

Dollar General Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 23rd. Stockholders of record on Tuesday, April 9th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, April 8th. Dollar General’s dividend payout ratio (DPR) is presently 31.22%.

Dollar General Profile

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.