Dollar General Co. (NYSE:DG – Get Free Report)’s stock price was up 3.3% during trading on Tuesday . The company traded as high as $86.10 and last traded at $85.71. Approximately 6,371,961 shares were traded during trading, an increase of 130% from the average daily volume of 2,766,487 shares. The stock had previously closed at $82.97.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on DG. Morgan Stanley downgraded shares of Dollar General from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $170.00 to $100.00 in a research report on Friday. Truist Financial decreased their price target on Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Bank of America dropped their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating on the stock in a research report on Friday. Oppenheimer reissued a “market perform” rating on shares of Dollar General in a report on Monday, August 26th. Finally, Barclays cut their price objective on Dollar General from $154.00 to $102.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.95.
Dollar General Price Performance
The firm has a 50-day moving average of $121.22 and a 200-day moving average of $135.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.18. The stock has a market cap of $18.43 billion, a PE ratio of 12.28, a PEG ratio of 2.25 and a beta of 0.43.
Dollar General (NYSE:DG – Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). The firm had revenue of $10.21 billion during 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 company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Research analysts predict that Dollar General Co. will post 6.45 EPS for the current year.
Dollar General Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Tuesday, October 8th. Dollar General’s dividend payout ratio (DPR) is 34.35%.
Institutional Investors Weigh In On Dollar General
Several hedge funds and other institutional investors have recently made changes to their positions in DG. Burkett Financial Services LLC purchased a new stake in Dollar General in the fourth quarter worth $26,000. Fortis Group Advisors LLC increased its stake in Dollar General by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 100 shares during the period. Bank & Trust Co bought a new stake in Dollar General during the 2nd quarter valued at about $26,000. Salem Investment Counselors Inc. lifted its holdings in Dollar General by 104.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 250 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Dollar General in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
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.