Matrix Asset Advisors Inc. NY Increases Holdings in Dollar General Corporation (NYSE:DG)

Matrix Asset Advisors Inc. NY lifted its position in Dollar General Corporation (NYSE:DG) by 62.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,801 shares of the company’s stock after purchasing an additional 50,584 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Dollar General were worth $11,589,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Sanctuary Advisors LLC lifted its holdings in Dollar General by 5.5% during the fourth quarter. Sanctuary Advisors LLC now owns 18,309 shares of the company’s stock worth $1,321,000 after buying an additional 956 shares during the period. Venturi Wealth Management LLC lifted its holdings in Dollar General by 126.4% during the fourth quarter. Venturi Wealth Management LLC now owns 498 shares of the company’s stock worth $38,000 after buying an additional 278 shares during the period. Good Life Advisors LLC purchased a new stake in Dollar General during the fourth quarter worth $248,000. Private Advisor Group LLC lifted its holdings in Dollar General by 9.5% during the fourth quarter. Private Advisor Group LLC now owns 6,066 shares of the company’s stock worth $460,000 after buying an additional 524 shares during the period. Finally, Ieq Capital LLC lifted its holdings in Dollar General by 125.0% during the fourth quarter. Ieq Capital LLC now owns 26,617 shares of the company’s stock worth $2,018,000 after buying an additional 14,785 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Insider Activity

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $111.56, for a total transaction of $718,223.28. Following the sale, the executive vice president now directly owns 41,646 shares in the company, valued at $4,646,027.76. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total value of $222,497.00. Following the sale, the executive vice president now owns 46,563 shares in the company, valued at $5,261,619. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,216 shares of company stock worth $1,017,349 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Dollar General Price Performance

Shares of DG opened at $111.47 on Friday. The business’s 50-day moving average is $99.44 and its two-hundred day moving average is $85.07. The company has a market capitalization of $24.53 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.91 and a beta of 0.26. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23. Dollar General Corporation has a fifty-two week low of $66.43 and a fifty-two week high of $135.46.

Dollar General (NYSE:DG) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.32. The company had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.25 billion. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. Research analysts predict that Dollar General Corporation will post 5.75 earnings per share for the current year.

Dollar General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, July 8th. Dollar General’s payout ratio is currently 45.04%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DG shares. Oppenheimer upgraded Dollar General from a “market perform” rating to an “outperform” rating and set a $130.00 target price for the company in a report on Wednesday, June 4th. Evercore ISI upped their target price on Dollar General from $105.00 to $117.00 and gave the stock an “in-line” rating in a report on Thursday, June 5th. Barclays upped their price target on Dollar General from $100.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Piper Sandler upped their price target on Dollar General from $79.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Finally, UBS Group upped their price target on Dollar General from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Fifteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.04.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.