Coho Partners Ltd. Trims Holdings in Dollar General Co.
Date: July 10, 2023
Coho Partners Ltd., a reputable investment firm, recently announced a reduction in its holdings of Dollar General Co. The move, disclosed in the company’s filing with the Securities and Exchange Commission (SEC), reveals a decrease of 1.1% during the first quarter. With this development, it is imperative to delve deeper into the implications of this decision on both parties involved and assess the potential reasons behind it.
Coho Partners Ltd.’s Decision to Reduce Holdings
According to the most recent 13F filing with the SEC, Coho Partners Ltd. sold 11,500 shares of Dollar General Co., leaving them with 1,064,151 shares in their portfolio. The reduction amounts to approximately 1.1% of their total holdings in the company’s stock. Despite this decrease, Dollar General still remains one of Coho Partners’ top ten investments, accounting for 3.9% of their investment portfolio.
Furthermore, based on Coho Partners Ltd.’s SEC filing, their ownership stake represents around 0.49% of Dollar General’s overall worth, amounting to an estimated value of $223,961,000 as disclosed by Coho Partners Ltd.
Director Todd J. Vasos’ Stock Sale Transaction
In unrelated news but still involving Dollar General Co., Director Todd J. Vasos reportedly sold 27,327 shares of the company’s stock on June 6th at an average price of $156.65 per share—a transaction totaling approximately $4,280,774.55 in value. Following this sale, Vasos now directly owns 118,635 shares equaling a value of $18,584,172.75 in Dollar General stocks.
This transaction was filed with the Securities & Exchange Commission and is available for public viewing on their official website. It is important to note that Director Vasos also sold the same number of shares on June 6th at the same average price per share, adding to his earlier transaction.
Director Michael M. Calbert’s Stock Purchase Transaction
On June 8th, Director Michael M. Calbert made a significant purchase of 2,500 shares of Dollar General stock at an average price of $155.25 per share, amounting to a total transaction value of $388,125.00. Following this acquisition, Calbert’s ownership in Dollar General increased to approximately 116,682 shares valued at around $18,114,880.50.
Insider Ownership and Stock Performance
Corporate insiders currently hold approximately 0.60% of Dollar General Co.’s stock. This level of insider ownership further highlights the significance placed on these transactions by key individuals within the company.
Dollar General’s stock opened at $169.00 on the specified Monday after these developments came to light. The company’s financial health demonstrates a current ratio of 1.32 and a quick ratio of 0.12, indicating its ability to meet short-term obligations efficiently.
However, it is worth noting that Dollar General Co.’s stock has experienced fluctuations over the past year—a range between its low point at $151.27 and its high point at $261.59 is indicative of this volatility. The company currently maintains a fifty-day simple moving average of $187.20 and a two-hundred-day simple moving average of $211.58.
Coho Partners Ltd.’s decision to reduce their holdings in Dollar General Co., as highlighted by their recent SEC filing, has generated interest in the investment community while simultaneously raising questions about potential reasoning behind such actions.
The concurrent sale and purchase transactions made by Director Todd J.Vasos and Director Michael M.Calbert respectively add another layer of intrigue surrounding these recent developments.
With a market capitalization of $37.07 billion and a set of financial ratios that highlight a positive debt-to-equity ratio, Dollar General Co. continues to be an important player in the retail industry. As the company moves forward, investors will likely pay close attention to its performance and any subsequent developments that may affect its stock price and market position.
Dollar General Corporation
Updated on: 03/03/2024
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
7:00 PM (UTC)
Date:31 January, 2024
|Analyst / firm
Dollar General: Recent Developments and Analyst Ratings Highlight Promising Growth Potential
Dollar General: A Look at Recent Developments and Analyst Ratings
July 10, 2023
Dollar General (NYSE: DG), a leading discount retailer in the United States, has been making waves in the financial and investment circles recently. The company’s stock has attracted the attention of several hedge funds and institutional investors. According to recent reports, Concord Wealth Partners acquired a new position in Dollar General during the fourth quarter of 2022, which was valued at $25,000. First Manhattan Co. also raised its holdings in Dollar General by a staggering 447.4% during the same period.
This surge in interest from hedge funds highlights the positive sentiment surrounding Dollar General’s performance and potential growth prospects. Financial Freedom LLC and Accurate Wealth Management LLC also acquired new positions in Dollar General during the fourth quarter, worth $26,000 and $27,000 respectively.
Another noteworthy investment came from Capital Directions Investment Advisors LLC, which purchased a new stake in shares of Dollar General worth $27,000. It is evident that institutional investors and hedge funds have recognized Dollar General as an attractive investment opportunity, with approximately 90.02% of the stock being owned by these stakeholders.
Analysts have also closely monitored Dollar General’s performance and issued various ratings on the company’s stock over time. Deutsche Bank Aktiengesellschaft reduced their price objective on Dollar General from $256.00 to $201.00 in a recent research report.
Gordon Haskett lowered their rating on Dollar General from “accumulate” to “hold” and dropped their target price for the company to $220.00 earlier this year. Raymond James also decreased their target price on Dollar General from $255.00 to $200.00.
Despite these adjustments to target prices, it is important to note that thirteen investment analysts have rated the stock as “hold,” seven as “buy,” and two as “strong buy.” The consensus rating, as reported by Bloomberg.com, is currently “Moderate Buy” with a consensus target price of $202.71.
In other news, Director Todd J. Vasos recently sold 27,327 shares of Dollar General stock in a transaction valued at around $4,280,774.55 on June 6th. Following the sale, Vasos still retains 118,635 shares in Dollar General.
On the buying side, Director Michael M. Calbert purchased 2,500 shares of Dollar General’s stock for a total transaction value of approximately $388,125.00 on June 8th.
The quarterly earnings report released by Dollar General on June 1st revealed that they had posted an earnings per share (EPS) of $2.34 for the quarter. This figure fell short of the consensus estimate by ($0.04). The company reported a net margin of 6.19% and a return on equity of 40.03%. Despite missing expectations slightly, Dollar General recorded revenue of $9.34 billion during the quarter.
Looking ahead, sell-side analysts predict that Dollar General will post an EPS of 10.03 for the current fiscal year based on its performance so far.
Furthermore, Dollar General recently announced a quarterly dividend for its shareholders to be paid on July 25th. Shareholders who are listed as such before July 11th will receive a dividend payout of $0.59 per share annually.
Dollar General continues to grab attention with its recent developments and strategic moves in the retail market industry. As we move further into the year, investors and analysts will keep a close eye on this discount retailer to observe how it navigates through potential challenges and capitalizes on new opportunities that come its way.