Truist Securities assumed coverage on shares of Dollar General (NYSE:DG) in a research report sent to investors on Thursday morning, Price Targets.com reports. The firm issued a hold rating and a $228.00 price objective on the stock.
DG has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered their price target on Dollar General from $254.00 to $251.00 and set a buy rating on the stock in a report on Friday, December 3rd. Wells Fargo & Company downgraded Dollar General from an overweight rating to an equal weight rating and set a $220.00 price target on the stock. in a report on Thursday, January 6th. BMO Capital Markets reissued a buy rating and set a $250.00 price objective on shares of Dollar General in a research report on Friday, December 3rd. Truist Financial assumed coverage on Dollar General in a research report on Thursday. They set a hold rating for the company. Finally, Morgan Stanley lifted their price objective on Dollar General from $245.00 to $250.00 and gave the company an overweight rating in a research report on Monday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $241.48.
Shares of NYSE DG traded down $7.60 during mid-day trading on Thursday, reaching $215.46. The company had a trading volume of 82,091 shares, compared to its average volume of 1,829,798. The company has a current ratio of 1.08, a quick ratio of 0.15 and a debt-to-equity ratio of 0.67. The stock has a market cap of $49.92 billion, a PE ratio of 21.85, a P/E/G ratio of 1.83 and a beta of 0.50. The company has a 50-day moving average price of $225.78 and a two-hundred day moving average price of $223.64. Dollar General has a 1-year low of $173.50 and a 1-year high of $240.14.
Dollar General declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 2nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Tuesday, January 4th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, January 3rd. This represents a $1.68 annualized dividend and a yield of 0.78%. Dollar General’s dividend payout ratio is 16.45%.
In other news, CFO John W. Garratt sold 29,412 shares of the business’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $223.30, for a total value of $6,567,699.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Todd J. Vasos sold 337,456 shares of the business’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $220.97, for a total value of $74,567,652.32. The disclosure for this sale can be found here. Insiders have sold 367,744 shares of company stock worth $81,330,122 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. lifted its holdings in Dollar General by 2.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 12,683 shares of the company’s stock worth $2,991,000 after buying an additional 250 shares in the last quarter. Canandaigua National Corp lifted its stake in shares of Dollar General by 1.2% in the 4th quarter. Canandaigua National Corp now owns 7,503 shares of the company’s stock valued at $1,769,000 after purchasing an additional 87 shares during the period. 44 Wealth Management LLC lifted its stake in shares of Dollar General by 18.2% in the 4th quarter. 44 Wealth Management LLC now owns 2,791 shares of the company’s stock valued at $658,000 after purchasing an additional 430 shares during the period. Fenimore Asset Management Inc. increased its position in shares of Dollar General by 0.7% in the 4th quarter. Fenimore Asset Management Inc. now owns 251,552 shares of the company’s stock valued at $59,324,000 after buying an additional 1,755 shares in the last quarter. Finally, First Hawaiian Bank increased its position in shares of Dollar General by 97.1% in the 4th quarter. First Hawaiian Bank now owns 7,327 shares of the company’s stock valued at $1,728,000 after buying an additional 3,610 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
About Dollar General
Dollar General Corp. engages in the operation of merchandise stores. Its offerings include food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items. It sells brands including Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J.
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