Top U.S. hedge fund managers did some shopping for shares of discount retailer Dollar General Corp and drug store operator Walgreen Co in the second quarter.Daniel Loeb's Third Point added 1 million shares of Dollar General, raising his stake by 33 percent, while Blue Ridge Capital, founded by Tiger Cub John Griffin, nearly doubled its stake in Walgreen when it bought 2.8 million shares. That translated into 4.57 percent of the fund's portfolio. Aaron Cowen's Suvretta Capital Management held 312,000 shares of Walgreen with a 55,000-share call position, as of June 30.Walgreen, which purchased a controlling stake in Britain's Alliance Boots, earlier this month decided not to relocate its corporate headquarters to Europe to save on taxes, a strategy known as inversion. It faced complications in pulling off the transaction, as well as heavy political pressure in the United States not to move.Billionaire activist investor Carl Icahn, Family Dollar Stores' largest shareholder with a 9.4 percent stake, wanted the company to sell itself to rival Dollar General in the face of stiff competition from big-box retailers such as Wal-Mart Stores Inc. But in July, Family Dollar agreed to sell itself to Dollar Tree Inc.
Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG traded higher by 1.53% or $0.87/share to $57.88. In the past year, the shares have traded as low as $52.40 and as high as $65.99. On average, 6004780 shares of DG exchange hands on a given day and today's volume is recorded at 6061968.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.89% or $0.491/share to $55.93. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2687360 shares of DLTR exchange hands on a given day and today's volume is recorded at 1107114.
Walgreen Co. (Walgreens), together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 0.32% or $-0.2/share to $62.25. In the past year, the shares have traded as low as $46.75 and as high as $76.39. On average, 8280300 shares of WAG exchange hands on a given day and today's volume is recorded at 6358213.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 0.49% or $0.36/share to $74.39. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 5937060 shares of WMT exchange hands on a given day and today's volume is recorded at 6073250.
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