Four Dollar General (
) insider sells were reported Wednesday, 10/02/2012, according to
GuruFocus Insider Data
, in congruence to the discount retailer's secondary share
offering released 09/27/2012.
The four insiders were identified as the following: Dollar
General Chairman and CEO, Richard Dreiling, who sold more than
$6.2 million worth of shares; Executive Vice President and CFO,
David Tehle, who sold more than $1.7 million worth of shares;
Executive Vice President and General Counsel Susan Lanigan, who
sold almost $1.2 million worth of shares; and lastly, Senior Vice
President and Controller, Anita Elliot, who sole almost $520,000
worth of shares.
Stakes were sold at $51.75 per share.
The secondary offering, which closed one day after the insider
trades occurred, consisted of 36 million common shares for the
public, and granted the offering's underwriters an option to
purchase up to 5.4 million additional shares.
Goldman, Sachs & Co.
Kohlberg Kravis Roberts & Co.
) served as the joint book running managers of the offering.
Earlier last month, Dollar General reported strong second quarter
Compared to last year`s second quarter, Dollar General`s sales
increased 10.4 percent by the end of this year's second quarter.
The company's adjusted net income increased by 27 percent and
reflectively, its adjusted earnings per share increased by 33
percent based off of the previous year's second quarter
"We are pleased with the start of our third quarter and have
refined our expectation for full year same-stores sales growth to
4 to 5 percent, an increase from our previous expectation of 3 to
5 percent..." Dreiling said in a Dollar General press release.
"We are well-positioned to continue to broaden our appeal to more
customers and to provide them with convenience and everyday low
prices they can depend on."
The most significant factors that affected Dollar General's
positive gross profit rate in this year's second quarter included
higher initial inventory markups, transportation efficiencies
coupled with lower fuel cost and the impact of a significant
last-in-first-out charge in the 2011 period, according to the
Dollar General Corp. is a retailer known for its discounted
nationally-branded items at more than 10,000 stores nationwide,
selling consumers products such as food, cleaning supplies, basic
apparel, seasonal products and beauty aids.
Currently selling at $51.75 per share, Dollar General has a
market cap of $17.13 billion, a P/E ratio of 19.5 and a P/S ratio
About GuruFocus Insider Data
In 2010, GuruFocus held a three-part Insider Research series
examining the relevance of Insider trading activity within
companies. The research revealed many interesting facts about
incorporating the gathered information to personal investment
strategies, as it contributed to the development in the Insider
tracking and alert tools offered on GuruFocus. You can view the
three-part research series by visiting the following links:
Guru Insider Research (
): The Summary of Previous Research Results
Guru Insider Research (II): Can Aggregated Insider
Trading Activities Predict the Market?
Guru Insider Research (
): Can Aggregated Insider Trading Activities Predict the Market
of Different Sectors?
About GuruFocus: GuruFocus.com tracks the stocks picks and
portfolio holdings of the world's best investors. This value
investing site offers stock screeners and valuation tools. And
publishes daily articles tracking the latest moves of the world's
best investors. GuruFocus also provides promising stock ideas in
3 monthly newsletters sent to