M&T Bank Corp Sells 10,709 Shares of Dollar General Co. (NYSE:DG)

M&T Bank Corp cut its holdings in Dollar General Co. (NYSE:DG - Free Report) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,384 shares of the company's stock after selling 10,709 shares during the quarter. M&T Bank Corp's holdings in Dollar General were worth $2,655,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Studio Investment Management LLC raised its stake in shares of Dollar General by 117.7% in the 2nd quarter. Studio Investment Management LLC now owns 283 shares of the company's stock valued at $37,000 after purchasing an additional 153 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Dollar General in the 2nd quarter valued at approximately $37,000. Quarry LP bought a new stake in Dollar General in the 2nd quarter valued at approximately $46,000. Pathway Financial Advisers LLC boosted its position in Dollar General by 30.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 376 shares of the company's stock worth $50,000 after acquiring an additional 88 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Dollar General during the 3rd quarter worth approximately $57,000. 91.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on DG shares. Bernstein Bank cut their price objective on shares of Dollar General from $98.00 to $94.00 in a research report on Friday, November 15th. Loop Capital reduced their price objective 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. UBS Group lowered their target price on Dollar General from $155.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Truist Financial dropped their target price on Dollar General from $94.00 to $83.00 and set a "hold" rating on the stock in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their price target on Dollar General from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $98.27.

Dollar General Stock Performance

Shares of Dollar General stock traded down $1.48 on Friday, hitting $76.94. The stock had a trading volume of 3,770,999 shares, compared to its average volume of 3,288,304. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.37 and a beta of 0.44. The company has a quick ratio of 0.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.78. Dollar General Co. has a twelve month low of $72.12 and a twelve month high of $168.07. The business's 50 day moving average is $79.15 and its two-hundred day moving average is $101.39.

Dollar General (NYSE:DG - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.08). The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.14 billion. Dollar General had a return on equity of 18.85% and a net margin of 3.33%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. Analysts forecast that Dollar General Co. will post 5.77 EPS for the current year.

Dollar General Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, January 7th. Dollar General's dividend payout ratio is currently 38.88%.

Insider Transactions at Dollar General

In related news, EVP Steven R. Deckard sold 2,010 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $86.66, for a total transaction of $174,186.60. Following the completion of the sale, the executive vice president now owns 2,887 shares of the company's stock, valued at $250,187.42. This represents a 41.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.49% of the company's stock.

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.