LGT Group Foundation Buys New Position in Dollar General Co. (NYSE:DG)

LGT Group Foundation purchased a new position in shares of Dollar General Co. (NYSE:DG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,640 shares of the company’s stock, valued at approximately $746,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Dollar General by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,391 shares of the company’s stock valued at $164,684,000 after acquiring an additional 51,937 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Dollar General by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 14,996 shares of the company’s stock valued at $2,039,000 after purchasing an additional 551 shares in the last quarter. Forum Financial Management LP acquired a new stake in Dollar General during the fourth quarter worth approximately $250,000. Ieq Capital LLC increased its holdings in Dollar General by 74.5% in the fourth quarter. Ieq Capital LLC now owns 13,537 shares of the company’s stock worth $1,840,000 after purchasing an additional 5,778 shares in the last quarter. Finally, Wambolt & Associates LLC acquired a new position in Dollar General in the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DG. BMO Capital Markets lowered their price objective on shares of Dollar General from $130.00 to $90.00 and set a “market perform” rating for the company in a research note on Friday, August 30th. Daiwa America downgraded shares of Dollar General from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 4th. UBS Group cut their price objective on shares of Dollar General from $155.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial decreased their target price on Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, The Goldman Sachs Group cut their price target on Dollar General from $169.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.95.

Dollar General Stock Down 1.9 %

DG opened at $80.98 on Tuesday. Dollar General Co. has a fifty-two week low of $77.96 and a fifty-two week high of $168.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. The company’s 50-day moving average is $116.39 and its 200 day moving average is $133.63. The firm has a market capitalization of $17.81 billion, a P/E ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.45.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.37 billion. Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 earnings per share. Research analysts expect that Dollar General Co. will post 5.86 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $2.36 annualized dividend and a yield of 2.91%. Dollar General’s payout ratio is currently 34.35%.

Insider Buying and Selling

In other news, Director Warren F. Bryant acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average price of $80.40 per share, for a total transaction of $40,200.00. Following the completion of the purchase, the director now owns 41,030 shares in the company, valued at $3,298,812. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

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.