Comerica Bank Boosts Holdings in Dollar General Corp. (DG)

Hurricanes led to increased customer traffic at Dollar General stores

WINTON GROUP Ltd decreased its position in Dollar General Corp. (NYSE:DG) by 21.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. Parsec Financial Management Inc. now owns 40,590 shares of the company's stock worth $3,290,000 after acquiring an additional 4,312 shares during the last quarter.

A number of other institutional investors have also added to or reduced their stakes in DG. The Illinois-based Rivernorth Capital Management Llc has invested 0.94% in the stock. About 2.65 million shares traded or 7.03% up from the average.

"The combination of low prices, broad assortment, and convenience will allow Dollar General to continue to grow as the income demographic primarily shopping at the stores has a limited amount of dollars to spend per visit", Moody's Vice President Mickey Chadha said. Prudential Financial Inc. boosted its stake in Dollar General by 27.3% in the 2nd quarter. It also reduced its holding in Willis Towers Watson Pub Ltd by 57,717 shares in the quarter, leaving it with 709,215 shares, and cut its stake in Spdr S&P 500 Etf Tr (SPY). 25,297 are owned by Advantus Capital Management Inc. Additional openings and remodeling projects will see Dollar General end the current fiscal year on February 2, 2018 having opened a total of 1,285 stores in addition to remodeling or relocating 760 stores. If the $97.90 price target is reached, the company will be worth $1.27 billion more. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Several analysts have weighed in on DG shares. Finally, Deutsche Bank upgraded Dollar General from a "hold" rating to a "buy" rating and increased their target price for the stock from $79.00 to $93.00 in a report on Wednesday, November 15th. Raymond James Financial reiterated a "buy" rating on shares of Dollar General in a research note on Sunday. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. Finally, Royal Bank Of Canada reissued a "buy" rating and issued a $85.00 target price on shares of Dollar General in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of "Hold" and an average target price of $83.12.

Shares of Dollar General Corp. Polen Capital Management LLC now owns 3,903,635 shares of the company's stock valued at $289,142,000 after buying an additional 2,129,904 shares in the last quarter. The firm has "Hold" rating given on Thursday, June 1 by BMO Capital Markets. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 0.18. Dollar General Corp. has a 1 year low of $65.97 and a 1 year high of $92.11. For the past month, Dollar General Corporation's stock has been 12.61%, 18.93% for the last quarter, 23.29% for the past six months and 20.03% for the past 52 weeks. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.94 by ($0.01).

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Dollar General's net sales increased 11 percent to $5.90 billion in Q3, versus $5.32 billion in the year-ago period.

While Barclays guessed that the particularly harsh storms and the store closures that they caused would hamper sales and margins, Dollar General CEO Todd Vasos painted a different picture during Thursday's earnings call. After $1.10 actual EPS reported by Dollar General Corporation for the previous quarter, Wall Street now forecasts -15.45% negative EPS growth.

Dollar General Corp (DG.N) on Thursday reported better-than-expected comparable sales for the third quarter, as hurricanes led to increased traffic and higher spending at its stores. Stockholders of record on Tuesday, January 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.14%.

Analysts await Dollar General Corporation (NYSE:DG) to report earnings on December, 7 before the open.

WARNING: "Tredje AP fonden Has $1.79 Million Stake in Dollar General Corp. Plans Quarterly Dividend of $0.26 (DG)" was first published by TrueBlueTribune and is the property of of TrueBlueTribune. If you are viewing this article on another domain, it was illegally copied and reposted in violation of U.S. and global copyright & trademark legislation. At Bancshares invested 0.04% of its portfolio in Dollar General Corporation (NYSE:DG).

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