First Horizon Advisors Inc. raised its holdings in Dollar General Co. (NYSE:DG) by 144.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 994 shares of the company’s stock after acquiring an additional 588 shares during the quarter. First Horizon Advisors Inc.’s holdings in Dollar General were worth $200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in DG. BlackRock Inc. increased its position in shares of Dollar General by 0.3% during the first quarter. BlackRock Inc. now owns 17,626,713 shares of the company’s stock worth $3,571,523,000 after buying an additional 51,976 shares during the period. Norges Bank acquired a new stake in shares of Dollar General during the fourth quarter worth $563,208,000. Lazard Asset Management LLC increased its position in shares of Dollar General by 1.1% during the fourth quarter. Lazard Asset Management LLC now owns 2,593,713 shares of the company’s stock worth $545,457,000 after buying an additional 29,153 shares during the period. Morgan Stanley increased its position in shares of Dollar General by 60.5% during the fourth quarter. Morgan Stanley now owns 2,427,495 shares of the company’s stock worth $510,501,000 after buying an additional 914,802 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt increased its position in shares of Dollar General by 24.8% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,353,400 shares of the company’s stock worth $476,658,000 after buying an additional 467,900 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.
DG has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on shares of Dollar General from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, March 19th. Evercore ISI raised shares of Dollar General from an “in-line” rating to an “outperform” rating in a research note on Monday, March 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Dollar General from $226.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, June 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $207.00 price objective (up from $206.00) on shares of Dollar General in a research note on Tuesday, May 18th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Dollar General in a research note on Monday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $232.42.
NYSE DG opened at $206.45 on Friday. Dollar General Co. has a 52-week low of $173.50 and a 52-week high of $225.25. The stock’s 50-day moving average is $209.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.14 and a quick ratio of 0.18. The stock has a market capitalization of $48.76 billion, a P/E ratio of 18.99, a PEG ratio of 1.68 and a beta of 0.52.
Dollar General (NYSE:DG) last posted its earnings results on Wednesday, May 26th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.63. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.28 billion. Dollar General had a net margin of 7.96% and a return on equity of 39.37%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.56 earnings per share. On average, research analysts predict that Dollar General Co. will post 10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 20th. Stockholders of record on Tuesday, July 6th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 2nd. This represents a $1.68 annualized dividend and a dividend yield of 0.81%. Dollar General’s payout ratio is 15.82%.
Dollar General declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 18th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Dollar General Profile
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry products; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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