Magellan Asset Management Ltd Acquires 71,977 Shares of Dollar General Co. (NYSE:DG)

Magellan Asset Management Ltd boosted its holdings in shares of Dollar General Co. (NYSE:DG) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 657,670 shares of the company’s stock after buying an additional 71,977 shares during the quarter. Magellan Asset Management Ltd owned about 0.30% of Dollar General worth $49,865,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its holdings in Dollar General by 8.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $143,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its stake in Dollar General by 20.3% during the 4th quarter. Bruce G. Allen Investments LLC now owns 953 shares of the company’s stock valued at $72,000 after purchasing an additional 161 shares during the period. Peoples Bank KS grew its holdings in Dollar General by 19.1% in the 4th quarter. Peoples Bank KS now owns 1,435 shares of the company’s stock valued at $109,000 after buying an additional 230 shares during the last quarter. Metis Global Partners LLC increased its position in Dollar General by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 7,297 shares of the company’s stock worth $553,000 after buying an additional 255 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of 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 last quarter. Institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DG shares. Telsey Advisory Group restated a “market perform” rating and issued a $85.00 price objective on shares of Dollar General in a research note on Thursday, March 13th. Morgan Stanley decreased their price target on shares of Dollar General from $100.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Truist Financial cut their price objective on shares of Dollar General from $94.00 to $83.00 and set a “hold” rating for the company in a research report on Friday, December 6th. BMO Capital Markets boosted their price target on Dollar General from $80.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Finally, Gordon Haskett cut Dollar General from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.26.

Dollar General Stock Performance

Dollar General stock opened at $90.19 on Thursday. The company has a market cap of $19.84 billion, a PE ratio of 14.86, a PEG ratio of 2.18 and a beta of 0.44. The company has a current ratio of 1.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.78. Dollar General Co. has a 1 year low of $66.43 and a 1 year high of $164.12. The company’s 50-day moving average is $77.22 and its two-hundred day moving average is $77.97.

Dollar General (NYSE:DG) last announced its quarterly earnings data on Thursday, March 13th. The company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.17. The business had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.26 billion. Dollar General had a net margin of 3.33% and a return on equity of 18.85%. Dollar General’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. Equities analysts anticipate that Dollar General Co. will post 5.75 earnings per share for the current year.

Dollar General Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.62%. Dollar General’s dividend payout ratio is 46.18%.

Dollar General Profile

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.