Dollar General Corporation (DG) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Dollar General Corporation (NYSE:DG) from a hold rating to a buy rating in a research report released on Monday. They currently have $87.00 price objective on the stock.
According to Zacks, “Dollar General remains committed toward better price management, merchandise initiatives and cost containment. The company’s recent deal to acquire 322 stores from a small multi-price point retailer is also encouraging. We believe that the company’s strategic endeavors have helped it to deliver better-than-expected results for the second straight quarter, as it posted first-quarter fiscal 2017 financial numbers. Upbeat performance and the news of recent store buyout deal, prompted management to raise its sales outlook. As a result the stock has outperformed the industry in the past three months. Meanwhile, Trump’s suggestion of reducing food stamps program by $193 billion, which is nearly 25% of the budget for the program, will have a detrimental effect. Cut in SNAP benefit will hamper the company’s performance as people with low income will have less money to spend and could restrict their spending to low margin products.”
DG has been the topic of a number of other reports. Bank of America Corporation restated a buy rating and set a $90.00 price target on shares of Dollar General Corporation in a research note on Friday, August 25th. BMO Capital Markets set a $85.00 price target on shares of Dollar General Corporation and gave the company a hold rating in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of Dollar General Corporation from a strong sell rating to a sell rating in a research note on Monday, July 24th. Barclays PLC restated a hold rating and set a $76.00 price target on shares of Dollar General Corporation in a research note on Friday, June 2nd. Finally, Morgan Stanley restated an overweight rating and set a $85.00 price target on shares of Dollar General Corporation in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the stock. Dollar General Corporation has an average rating of Hold and a consensus target price of $81.56.
Dollar General Corporation (NYSE:DG) opened at 76.73 on Monday. Dollar General Corporation has a 1-year low of $65.97 and a 1-year high of $80.67. The company has a market capitalization of $21.04 billion, a price-to-earnings ratio of 17.35 and a beta of 0.93. The stock has a 50 day moving average price of $73.82 and a 200-day moving average price of $72.86. Dollar General Corporation also saw some unusual options trading activity on Monday. Investors bought 9,363 put options on the company. This represents an increase of 477% compared to the typical daily volume of 1,622 put options.
Dollar General Corporation (NYSE:DG) last announced its quarterly earnings results on Thursday, June 1st. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.03. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Dollar General Corporation had a net margin of 5.53% and a return on equity of 23.07%. Dollar General Corporation’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. Equities analysts predict that Dollar General Corporation will post $4.50 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS acquired a new position in Dollar General Corporation during the first quarter valued at approximately $4,485,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Dollar General Corporation by 3.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,898 shares of the company’s stock valued at $3,131,000 after buying an additional 1,537 shares in the last quarter. Advisory Services Network LLC acquired a new position in Dollar General Corporation during the first quarter valued at approximately $535,000. SPC Financial Inc. raised its position in Dollar General Corporation by 42.3% in the first quarter. SPC Financial Inc. now owns 11,228 shares of the company’s stock valued at $783,000 after buying an additional 3,335 shares in the last quarter. Finally, Advisor Partners LLC raised its position in Dollar General Corporation by 8.0% in the first quarter. Advisor Partners LLC now owns 4,653 shares of the company’s stock valued at $324,000 after buying an additional 343 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.
Dollar General Corporation Company Profile
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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