Traders Buy Dollar General (DG) on Weakness
Investors purchased shares of Dollar General Corp. (NYSE:DG) on weakness during trading on Thursday. $116.57 million flowed into the stock on the tick-up and $75.37 million flowed out of the stock on the tick-down, for a money net flow of $41.20 million into the stock. Of all stocks tracked, Dollar General had the 9th highest net in-flow for the day. Dollar General traded down ($2.52) for the day and closed at $111.78
Several research analysts have recently weighed in on DG shares. Deutsche Bank increased their price objective on shares of Dollar General from $123.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Zacks Investment Research downgraded shares of Dollar General from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. MKM Partners increased their target price on shares of Dollar General to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, August 28th. UBS Group reissued a “buy” rating and set a $120.00 target price (up previously from $110.00) on shares of Dollar General in a research report on Monday, October 15th. Finally, Loop Capital increased their target price on shares of Dollar General from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $107.26.
The company has a current ratio of 1.55, a quick ratio of 0.21 and a debt-to-equity ratio of 0.44. The stock has a market cap of $30.35 billion, a PE ratio of 24.82, a P/E/G ratio of 1.38 and a beta of 0.82.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, October 5th. Dollar General’s dividend payout ratio (DPR) is 25.84%.
In other Dollar General news, EVP Robert D. Ravener sold 22,440 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $111.49, for a total value of $2,501,835.60. Following the completion of the sale, the executive vice president now owns 50,747 shares of the company’s stock, valued at $5,657,783.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of DG. Bank of New York Mellon Corp grew its position in Dollar General by 23,132.8% in the third quarter. Bank of New York Mellon Corp now owns 3,356,904 shares of the company’s stock valued at $366,909,000 after acquiring an additional 3,342,455 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Dollar General in the third quarter valued at approximately $108,509,000. Alecta Pensionsforsakring Omsesidigt acquired a new stake in Dollar General in the third quarter valued at approximately $98,907,000. Millennium Management LLC grew its position in Dollar General by 140.6% in the second quarter. Millennium Management LLC now owns 1,345,577 shares of the company’s stock valued at $132,674,000 after acquiring an additional 786,382 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Dollar General by 12.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,450,172 shares of the company’s stock valued at $635,987,000 after acquiring an additional 711,483 shares in the last quarter. 95.74% of the stock is owned by institutional investors.
About Dollar General (NYSE:DG)
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, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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