Element Capital Management LLC bought a new position in Dollar General (NYSE:DG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 257,710 shares of the company’s stock, valued at approximately $23,970,000. Element Capital Management LLC owned about 0.09% of Dollar General at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Dollar General by 168.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 16,218,589 shares of the company’s stock worth $1,314,516,000 after purchasing an additional 10,167,321 shares during the last quarter. Longview Partners Guernsey LTD increased its holdings in shares of Dollar General by 0.8% in the fourth quarter. Longview Partners Guernsey LTD now owns 11,417,858 shares of the company’s stock worth $1,061,975,000 after purchasing an additional 96,198 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Dollar General by 2.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,888,589 shares of the company’s stock worth $642,060,000 after purchasing an additional 178,400 shares during the last quarter. Capital International Investors increased its holdings in shares of Dollar General by 14.0% in the third quarter. Capital International Investors now owns 6,428,000 shares of the company’s stock worth $520,989,000 after purchasing an additional 791,600 shares during the last quarter. Finally, Polen Capital Management LLC increased its holdings in shares of Dollar General by 0.8% in the fourth quarter. Polen Capital Management LLC now owns 4,977,513 shares of the company’s stock worth $462,958,000 after purchasing an additional 41,833 shares during the last quarter. 90.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of 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 company has a debt-to-equity ratio of 0.43, a quick ratio of 0.22 and a current ratio of 1.43. The firm has a market capitalization of $25,790.43, a price-to-earnings ratio of 21.15, a PEG ratio of 1.08 and a beta of 1.02. Dollar General has a 52-week low of $65.97 and a 52-week high of $105.82.
Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, March 15th. The company reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The firm had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.20 billion. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. Dollar General’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. analysts forecast that Dollar General will post 6.01 earnings per share for the current 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 issued a $0.29 dividend. This is a positive change from Dollar General’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.22%. Dollar General’s payout ratio is presently 23.16%.
Dollar General announced that its board has authorized a share repurchase program on Thursday, March 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have weighed in on the company. Loop Capital boosted their price objective on Dollar General from $87.00 to $97.00 and gave the stock a “hold” rating in a research note on Thursday, March 15th. They noted that the move was a valuation call. JPMorgan Chase reissued a “neutral” rating and set a $103.00 price objective (up from $94.00) on shares of Dollar General in a research note on Thursday, February 22nd. Morgan Stanley set a $121.00 price objective on Dollar General and gave the stock a “buy” rating in a research note on Friday, March 16th. Argus reissued a “hold” rating on shares of Dollar General in a research note on Thursday, February 8th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reduced their price objective on Dollar General to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 14th. Twelve equities research 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. The company presently has a consensus rating of “Buy” and an average price target of $98.00.
In related news, SVP Michael J. Kindy sold 8,221 shares of the business’s stock in a transaction that occurred 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 owns 9,850 shares in the company, valued at $916,542.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.
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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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