Magellan Asset Management Ltd Sells 219,554 Shares of Dollar General Corporation $DG

Magellan Asset Management Ltd lowered its holdings in shares of Dollar General Corporation (NYSE:DG) by 37.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368,584 shares of the company’s stock after selling 219,554 shares during the quarter. Magellan Asset Management Ltd owned 0.17% of Dollar General worth $42,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in Dollar General by 5,440.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,582,569 shares of the company’s stock valued at $139,155,000 after buying an additional 1,554,004 shares during the period. Royal Bank of Canada boosted its position in Dollar General by 251.6% in the 1st quarter. Royal Bank of Canada now owns 2,035,524 shares of the company’s stock valued at $178,983,000 after buying an additional 1,456,549 shares during the period. Vanguard Group Inc. boosted its position in Dollar General by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 26,433,202 shares of the company’s stock valued at $2,324,271,000 after buying an additional 1,201,917 shares during the period. Pzena Investment Management LLC increased its position in shares of Dollar General by 8.5% during the first quarter. Pzena Investment Management LLC now owns 12,770,542 shares of the company’s stock worth $1,122,914,000 after acquiring an additional 1,003,206 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Dollar General during the first quarter valued at approximately $41,798,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DG has been the subject of several recent research reports. Sanford C. Bernstein lifted their price objective on Dollar General from $122.00 to $134.00 and gave the company an “outperform” rating in a report on Friday, August 29th. UBS Group upped their price target on shares of Dollar General from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Gordon Haskett cut their price objective on shares of Dollar General from $130.00 to $115.00 in a report on Friday, September 26th. Guggenheim restated a “buy” rating and set a $125.00 target price on shares of Dollar General in a report on Friday, August 29th. Finally, Piper Sandler boosted their target price on shares of Dollar General from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $115.64.

Dollar General Stock Up 3.5%

DG opened at $99.27 on Friday. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $103.05 and a 200 day moving average price of $105.38. The company has a market cap of $21.85 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.30. Dollar General Corporation has a twelve month low of $66.43 and a twelve month high of $117.95.

Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, August 28th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.30. Dollar General had a net margin of 2.86% and a return on equity of 17.97%. The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period last year, the firm posted $1.70 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. Sell-side analysts expect that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $2.36 dividend on an annualized basis and a yield of 2.4%. Dollar General’s dividend payout ratio (DPR) is currently 43.70%.

Dollar General Company Profile

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.