Summit Investment Advisors Inc. Trims Stock Holdings in Dollar General Co. (NYSE:DG)

Summit Investment Advisors Inc. cut its holdings in Dollar General Co. (NYSE:DG) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,143 shares of the company’s stock after selling 169 shares during the period. Summit Investment Advisors Inc.’s holdings in Dollar General were worth $162,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of Dollar General in the fourth quarter valued at $57,000. Eagle Rock Investment Company LLC grew its holdings in Dollar General by 16.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 28,827 shares of the company’s stock valued at $2,186,000 after buying an additional 4,048 shares in the last quarter. Leibman Financial Services Inc. bought a new stake in shares of Dollar General during the fourth quarter valued at about $2,018,000. DAVENPORT & Co LLC lifted its holdings in shares of Dollar General by 5,624.9% in the fourth quarter. DAVENPORT & Co LLC now owns 321,623 shares of the company’s stock worth $24,385,000 after buying an additional 316,005 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY bought a new position in shares of Dollar General in the fourth quarter valued at approximately $6,158,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Dollar General Price Performance

DG stock opened at $96.81 on Wednesday. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 2.18 and a beta of 0.40. The firm’s 50-day moving average price is $83.03 and its two-hundred day moving average price is $78.63. The company has a current ratio of 1.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.78. Dollar General Co. has a 12-month low of $66.43 and a 12-month high of $147.87.

Dollar General (NYSE:DG) last released its quarterly earnings results on Thursday, March 13th. The company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.17. The business had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.26 billion. Dollar General had a return on equity of 18.85% and a net margin of 3.33%. Dollar General’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.83 EPS. As a group, equities analysts predict that Dollar General Co. will post 5.75 earnings per share for the current year.

Dollar General Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.44%. The ex-dividend date was Tuesday, April 8th. Dollar General’s dividend payout ratio (DPR) is currently 46.18%.

Insider Buying and Selling at Dollar General

In other Dollar General news, EVP Emily C. Taylor sold 809 shares of Dollar General stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $94.72, for a total transaction of $76,628.48. Following the sale, the executive vice president now directly owns 48,532 shares of the company’s stock, valued at approximately $4,596,951.04. The trade was a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Dollar General from $79.00 to $81.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Bank of America lowered their price objective on Dollar General from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Citigroup upgraded Dollar General from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $69.00 to $101.00 in a research report on Monday, April 7th. Melius Research upgraded Dollar General from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $85.00 price target on shares of Dollar General in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.75.

Dollar General Company 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.