Steward Partners Investment Advisory LLC lifted its position in Dollar General Corp. (NYSE:DG) by 9.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,593 shares of the company’s stock after purchasing an additional 569 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Dollar General were worth $891,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Clean Yield Group bought a new stake in shares of Dollar General in the 2nd quarter valued at about $26,000. Squar Milner Financial Services LLC lifted its stake in shares of Dollar General by 73.0% in the 2nd quarter. Squar Milner Financial Services LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Dollar General in the 2nd quarter valued at about $27,000. Ellis Investment Partners LLC bought a new stake in shares of Dollar General in the 1st quarter valued at about $30,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Dollar General in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 95.48% of the company’s stock.
DG has been the subject of a number of recent analyst reports. Loop Capital raised Dollar General from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $152.00 in a research report on Tuesday, April 30th. Buckingham Research reaffirmed a “positive” rating and set a $152.00 price target (up previously from $125.00) on shares of Dollar General in a research report on Friday, May 31st. Zacks Investment Research raised Dollar General from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research report on Wednesday, May 22nd. Royal Bank of Canada upped their price target on Dollar General from $133.00 to $139.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Raymond James upped their price target on Dollar General from $127.00 to $146.00 and gave the company a “strong-buy” rating in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $134.68.
Dollar General (NYSE:DG) last issued its earnings results on Thursday, May 30th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. Dollar General had a return on equity of 25.03% and a net margin of 6.16%. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dollar General Corp. will post 6.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.28 annualized dividend and a yield of 0.94%. Dollar General’s dividend payout ratio is 21.44%.
About Dollar General
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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