Pinnacle Financial Partners Inc Reduces Position in Dollar General Co. (NYSE:DG)

Pinnacle Financial Partners Inc trimmed its holdings in shares of Dollar General Co. (NYSE:DG - Free Report) by 23.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 49,781 shares of the company's stock after selling 15,026 shares during the period. Pinnacle Financial Partners Inc's holdings in Dollar General were worth $4,210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors lifted its holdings in Dollar General by 11.3% during the 1st quarter. Capital International Investors now owns 20,790,023 shares of the company's stock valued at $3,244,491,000 after purchasing an additional 2,113,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Dollar General by 11.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,217,480 shares of the company's stock worth $3,155,141,000 after acquiring an additional 2,031,593 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Dollar General by 148.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,280,020 shares of the company's stock worth $169,257,000 after acquiring an additional 765,206 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Dollar General by 319.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 925,083 shares of the company's stock worth $122,324,000 after acquiring an additional 704,639 shares during the last quarter. Finally, Markel Group Inc. boosted its stake in Dollar General by 6.5% during the 3rd quarter. Markel Group Inc. now owns 742,250 shares of the company's stock worth $62,772,000 after acquiring an additional 45,000 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DG. Citigroup lowered shares of Dollar General from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $91.00 to $73.00 in a research report on Friday, September 27th. Daiwa America downgraded shares of Dollar General from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, September 4th. Wells Fargo & Company cut their price objective on shares of Dollar General from $145.00 to $130.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. Barclays cut their price objective on shares of Dollar General from $154.00 to $102.00 and set an "overweight" rating for the company in a research 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 company from $168.00 to $103.00 in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $107.05.

Insider Transactions at Dollar General

In related news, EVP Roderick J. West sold 2,510 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.25, for a total value of $208,957.50. Following the transaction, the executive vice president now directly owns 9,163 shares of the company's stock, valued at approximately $762,819.75. The trade was a 21.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven R. Deckard sold 2,010 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $86.66, for a total transaction of $174,186.60. Following the completion of the transaction, the executive vice president now directly owns 2,887 shares in the company, valued at $250,187.42. This trade represents a 41.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.49% of the company's stock.

Dollar General Trading Up 0.4 %

Shares of NYSE:DG traded up $0.28 during mid-day trading on Thursday, hitting $77.06. The company had a trading volume of 2,821,009 shares, compared to its average volume of 3,197,490. The company has a market capitalization of $16.95 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.20 and a beta of 0.45. The firm has a fifty day moving average price of $82.05 and a 200 day moving average price of $111.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. Dollar General Co. has a one year low of $73.51 and a one year high of $168.07.

Dollar General (NYSE:DG - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.37 billion. Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. As a group, research analysts forecast that Dollar General Co. will post 5.86 EPS for the current year.

Dollar General Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.06%. Dollar General's payout ratio is 36.65%.

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.