Dollar General (DG) to Buyback $1.00 billion in Outstanding Stock

Dollar General (NYSE:DG) declared that its board has approved a stock repurchase plan, which authorizes the company to repurchase $1.00 billion in outstanding shares on Thursday, March 15th, EventVestor reports. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Dollar General (NYSE:DG) opened at $95.43 on Friday. The company has a market capitalization of $25,374.90, a PE ratio of 16.86, a P/E/G ratio of 1.34 and a beta of 1.05. Dollar General has a 52 week low of $65.97 and a 52 week high of $105.82. The company has a quick ratio of 0.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.43.

Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, March 15th. The company reported $1.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.48. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.20 billion. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. analysts anticipate that Dollar General will post 6.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 24th. Investors of record on Tuesday, April 10th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. This is an increase from Dollar General’s previous quarterly dividend of $0.26. Dollar General’s dividend payout ratio (DPR) is 18.37%.

DG has been the topic of several research reports. UBS reissued a “buy” rating and issued a $99.00 price objective (up from $85.00) on shares of Dollar General in a research report on Monday, December 4th. Raymond James Financial reissued a “buy” rating and issued a $107.00 price objective on shares of Dollar General in a research report on Sunday, December 3rd. MKM Partners raised their price objective on Dollar General to $96.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Deutsche Bank raised their price objective on Dollar General to $97.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, ValuEngine raised Dollar General from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $95.60.

In related news, SVP Anita C. Elliott sold 2,012 shares of Dollar General stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $92.82, for a total value of $186,753.84. Following the completion of the transaction, the senior vice president now directly owns 14,969 shares in the company, valued at $1,389,422.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

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About Dollar General

Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.

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