Bank of New York Mellon Corp Has $175.85 Million Holdings in Dollar General Co. (NYSE:DG)

Bank of New York Mellon Corp cut its position in shares of Dollar General Co. (NYSE:DG) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,329,897 shares of the company’s stock after selling 55,124 shares during the period. Bank of New York Mellon Corp owned about 0.60% of Dollar General worth $175,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its holdings in Dollar General by 12.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 689 shares of the company’s stock valued at $108,000 after buying an additional 76 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Dollar General by 3.3% during the first quarter. Fidelis Capital Partners LLC now owns 2,425 shares of the company’s stock worth $378,000 after purchasing an additional 77 shares during the period. Industrial Alliance Investment Management Inc. increased its holdings in Dollar General by 3.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,390 shares of the company’s stock valued at $373,000 after purchasing an additional 80 shares during the last quarter. Rise Advisors LLC lifted its stake in Dollar General by 14.8% in the first quarter. Rise Advisors LLC now owns 700 shares of the company’s stock valued at $109,000 after buying an additional 90 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its holdings in Dollar General by 10.9% during the first quarter. Capital Advisors Ltd. LLC now owns 994 shares of the company’s stock worth $155,000 after buying an additional 98 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DG has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Dollar General from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 4th. Piper Sandler lowered their price objective on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Argus reduced their target price on Dollar General from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Evercore ISI lowered their target price on Dollar General from $151.00 to $148.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Dollar General in a research note on Friday. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $147.09.

Dollar General Stock Performance

Shares of DG stock traded up $0.74 on Monday, reaching $124.34. The stock had a trading volume of 1,783,156 shares, compared to its average volume of 2,395,164. Dollar General Co. has a 12 month low of $101.09 and a 12 month high of $168.07. The firm has a market capitalization of $27.34 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.36 and a beta of 0.43. The firm’s 50-day moving average is $124.09 and its two-hundred day moving average is $137.03. The company has a quick ratio of 0.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.89.

Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, May 30th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.08. Dollar General had a return on equity of 22.80% and a net margin of 3.85%. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts expect that Dollar General Co. will post 7.21 EPS for the current fiscal year.

Dollar General Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, July 9th. Dollar General’s payout ratio is presently 34.35%.

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.