Morgan Stanley set a $121.00 target price on Dollar General (NYSE:DG) in a research note issued to investors on Friday, March 16th. The firm currently has a buy rating on the stock.
A number of other research analysts also recently issued reports on DG. Loop Capital boosted their price target on Dollar General from $87.00 to $97.00 and gave the company a hold rating in a report on Thursday, March 15th. They noted that the move was a valuation call. JPMorgan Chase reissued a neutral rating and issued a $103.00 price target (up from $94.00) on shares of Dollar General in a report on Thursday, February 22nd. Argus reissued a hold rating on shares of Dollar General in a report on Thursday, February 8th. They noted that the move was a valuation call. Royal Bank of Canada decreased their price target on Dollar General to $101.00 and set an outperform rating for the company in a report on Wednesday, March 14th. Finally, UBS reaffirmed a buy rating and set a $99.00 target price (up from $85.00) on shares of Dollar General in a research note on Monday, December 4th. Twelve investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Dollar General presently has a consensus rating of Buy and an average price target of $98.00.
NYSE DG traded down $1.43 during trading hours on Friday, reaching $94.97. The stock had a trading volume of 2,760,408 shares, compared to its average volume of 3,137,070. The firm has a market cap of $26,178.73, a P/E ratio of 21.15, a P/E/G ratio of 1.10 and a beta of 1.02. 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 0.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.43.
Dollar General (NYSE:DG) last issued its earnings results on Thursday, March 15th. The company reported $1.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.48. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. Dollar General’s revenue for the quarter was up 2.0% on a year-over-year basis. research analysts expect that Dollar General will post 6.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 24th. Shareholders of record on Tuesday, April 10th will be issued a $0.29 dividend. This is a boost from Dollar General’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, April 9th. Dollar General’s dividend payout ratio is presently 23.16%.
Dollar General announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Dollar General news, SVP Michael J. Kindy sold 8,221 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $93.05, for a total value of $764,964.05. Following the completion of the sale, the senior vice president now directly owns 9,850 shares in the company, valued at approximately $916,542.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DG. Victory Capital Management Inc. grew its holdings in shares of Dollar General by 19.3% during the 3rd quarter. Victory Capital Management Inc. now owns 23,490 shares of the company’s stock worth $1,904,000 after purchasing an additional 3,794 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Dollar General by 3.3% during the 3rd quarter. Retirement Systems of Alabama now owns 126,390 shares of the company’s stock worth $10,244,000 after purchasing an additional 4,067 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Dollar General by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 28,418 shares of the company’s stock worth $2,303,000 after purchasing an additional 631 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Dollar General by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 634,057 shares of the company’s stock worth $51,390,000 after purchasing an additional 11,457 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of Dollar General by 14.5% during the 3rd quarter. Toronto Dominion Bank now owns 107,606 shares of the company’s stock worth $8,722,000 after purchasing an additional 13,639 shares during the period. Institutional investors and hedge funds own 90.87% of the company’s stock.
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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 comprising paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food products, such as cereals, canned soups and vegetables, condiments, spices, sugar, and flour; perishables consisting of milk, eggs, bread, refrigerated and frozen food, beer, and wine; snacks that comprise candies, cookies, crackers, salty snacks, and carbonated beverages; health and beauty products, such as over-the-counter medicines, as well as soap, body wash, shampoo, dental hygiene, and foot care products; pet products, which include pet supplies and pet food; and tobacco products.
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