IFG Advisory LLC lessened its position in shares of Dollar General Co. (NYSE:DG) by 1.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,430 shares of the company’s stock after selling 52 shares during the period. IFG Advisory LLC’s holdings in Dollar General were worth $897,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Dollar General in the fourth quarter valued at $563,208,000. Lazard Asset Management LLC grew its holdings 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 valued at $545,457,000 after buying an additional 29,153 shares during the last quarter. Morgan Stanley grew its holdings 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 valued at $510,501,000 after buying an additional 914,802 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Dollar General by 5.1% during the fourth quarter. Janus Henderson Group PLC now owns 2,161,055 shares of the company’s stock valued at $454,470,000 after buying an additional 104,285 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Dollar General by 7.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,717,416 shares of the company’s stock valued at $361,173,000 after buying an additional 113,932 shares during the last quarter. 90.86% of the stock is owned by institutional investors and hedge funds.
In related news, CFO John W. Garratt sold 26,127 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $199.35, for a total value of $5,208,417.45. Following the completion of the sale, the chief financial officer now directly owns 37,088 shares of the company’s stock, valued at $7,393,492.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.
Dollar General (NYSE:DG) last announced its quarterly earnings results on Wednesday, March 17th. The company reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.10). Dollar General had a net margin of 7.84% and a return on equity of 36.07%. The company had revenue of $8.41 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the business earned $2.10 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. On average, equities analysts anticipate that Dollar General Co. will post 10.65 EPS for the current year.
Dollar General declared that its board has initiated a stock buyback plan on Thursday, March 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 20th. Stockholders of record on Tuesday, April 6th were paid a dividend of $0.42 per share. This is a positive change from Dollar General’s previous quarterly dividend of $0.36. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, April 5th. Dollar General’s payout ratio is currently 24.96%.
Several research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Dollar General from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI upgraded shares of Dollar General from an “in-line” rating to an “outperform” rating in a research note on Monday, March 29th. JPMorgan Chase & Co. boosted their target price on shares of Dollar General from $224.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, March 24th. Raymond James dropped their target price on shares of Dollar General from $250.00 to $220.00 and set a “strong-buy” rating on the stock in a research note on Thursday, March 25th. Finally, KeyCorp dropped their target price on shares of Dollar General from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, March 25th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Dollar General has a consensus rating of “Buy” and an average target price of $230.50.
Dollar General Company 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.
Further Reading: Dividend Yield
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