Dollar General Corporation (NYSE:DG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $94.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.44% from the company’s current price.
According to Zacks, “Dollar General’s commitment toward better price management, merchandise initiatives and cost containment has helped the stock to outperform the industry in the past six months. Strategic endeavors have helped it to deliver better-than-expected numbers for the third straight quarter, as it posted second-quarter fiscal 2017 results. Upbeat performance and buyout of Acquired Stores prompted management to raise earnings outlook. The company anticipates earnings in the band of $4.35-$4.50 per share, up from the earlier estimate of $4.25-$4.50. Despite robust performance, investors’ remained concerned over cut in SNAP benefit. Trump’s suggestion of reducing food stamps program by $193 billion, which is nearly 25% of the budget for the program, will have a detrimental effect. Cut in SNAP benefit will hamper performance as people with low income will have less money to spend and could restrict spending to low margin products.”
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded Dollar General Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Bank of America Corporation restated a “buy” rating and set a $90.00 price target on shares of Dollar General Corporation in a report on Friday, August 25th. Citigroup Inc. raised their price target on Dollar General Corporation from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Piper Jaffray Companies restated a “buy” rating and set a $85.00 price target on shares of Dollar General Corporation in a report on Friday, September 29th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $85.00 price target on shares of Dollar General Corporation in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. Dollar General Corporation has a consensus rating of “Hold” and an average price target of $80.98.
Dollar General Corporation (NYSE:DG) last posted its quarterly earnings data on Thursday, August 31st. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.80 billion. Dollar General Corporation had a return on equity of 22.67% and a net margin of 5.38%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. sell-side analysts predict that Dollar General Corporation will post 4.5 EPS for the current fiscal year.
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In other news, EVP Robert D. Ravener sold 11,257 shares of Dollar General Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $77.00, for a total transaction of $866,789.00. Following the transaction, the executive vice president now directly owns 22,598 shares of the company’s stock, valued at approximately $1,740,046. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Sun Life Financial INC raised its stake in Dollar General Corporation by 18,170.0% during the 2nd quarter. Sun Life Financial INC now owns 1,827 shares of the company’s stock valued at $132,000 after purchasing an additional 1,817 shares during the period. Alpha Windward LLC raised its stake in Dollar General Corporation by 3.0% during the 2nd quarter. Alpha Windward LLC now owns 1,900 shares of the company’s stock valued at $137,000 after purchasing an additional 56 shares during the period. Huntington National Bank raised its stake in Dollar General Corporation by 4.0% during the 2nd quarter. Huntington National Bank now owns 1,965 shares of the company’s stock valued at $142,000 after purchasing an additional 75 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Dollar General Corporation by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,034 shares of the company’s stock valued at $146,000 after purchasing an additional 48 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in Dollar General Corporation by 7,109.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 10,814 shares of the company’s stock valued at $150,000 after purchasing an additional 10,664 shares during the period. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
About Dollar General Corporation
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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