Centric Wealth Management Invests $1.96 Million in Dollar General Co. (NYSE:DG)

Centric Wealth Management acquired a new position in shares of Dollar General Co. (NYSE:DG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 25,318 shares of the company’s stock, valued at approximately $1,960,000.

A number of other large investors have also made changes to their positions in the stock. Pzena Investment Management LLC lifted its position in shares of Dollar General by 453.4% in the 3rd quarter. Pzena Investment Management LLC now owns 10,238,886 shares of the company’s stock worth $865,903,000 after acquiring an additional 8,388,735 shares during the period. Baupost Group LLC MA bought a new stake in Dollar General in the third quarter valued at about $194,832,000. Point72 Asset Management L.P. boosted its holdings in Dollar General by 148.6% during the second quarter. Point72 Asset Management L.P. now owns 1,280,020 shares of the company’s stock valued at $169,257,000 after purchasing an additional 765,206 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Dollar General by 319.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 925,083 shares of the company’s stock valued at $122,324,000 after purchasing an additional 704,639 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Dollar General in the 2nd quarter worth approximately $55,986,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Insider Activity

In related news, Director Warren F. Bryant bought 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $80.83 per share, for a total transaction of $80,830.00. Following the transaction, the director now owns 42,030 shares in the company, valued at $3,397,284.90. The trade was a 2.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick J. West sold 2,510 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.25, for a total transaction of $208,957.50. Following the completion of the transaction, the executive vice president now directly owns 9,163 shares in the company, valued at approximately $762,819.75. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DG. Oppenheimer reiterated a “market perform” rating on shares of Dollar General in a research report on Monday, August 26th. Melius Research began coverage on shares of Dollar General in a research note on Monday, September 23rd. They set a “hold” rating and a $85.00 price objective on the stock. Loop Capital cut their target price on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Barclays dropped their price target on Dollar General from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Telsey Advisory Group downgraded shares of Dollar General from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $168.00 to $103.00 in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.00.

Dollar General Trading Up 2.2 %

NYSE DG opened at $76.26 on Friday. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.23 and a beta of 0.45. Dollar General Co. has a 52 week low of $72.12 and a 52 week high of $168.07. The stock’s 50 day moving average price is $80.33 and its two-hundred day moving average price is $106.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 1.22.

Dollar General (NYSE:DG) last issued its earnings results on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). The firm had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.37 billion. Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $2.13 earnings per share. As a group, analysts anticipate that Dollar General Co. will post 5.85 earnings per share for the current fiscal year.

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.