Dollar General (NYSE:DG) had its target price lifted by UBS Group from $235.00 to $240.00 in a research report sent to investors on Monday, The Fly reports. UBS Group currently has a buy rating on the stock.
A number of other equities research analysts have also recently issued reports on DG. Raymond James dropped their target price on shares of Dollar General from $250.00 to $220.00 and set a strong-buy rating for the company in a research report on Thursday, March 25th. Zacks Investment Research raised Dollar General from a hold rating to a buy rating and set a $213.00 price objective on the stock in a research note on Monday, February 22nd. Bank of America lowered shares of Dollar General from a buy rating to a neutral rating and set a $215.00 price objective on the stock. in a report on Thursday, February 25th. Morgan Stanley dropped their price objective on shares of Dollar General from $245.00 to $225.00 and set an overweight rating for the company in a research report on Monday, March 29th. Finally, KeyCorp lowered their price objective on Dollar General from $235.00 to $220.00 and set an overweight rating for the company in a research report on Thursday, March 25th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Dollar General has a consensus rating of Buy and a consensus price target of $230.50.
Shares of DG stock opened at $215.75 on Monday. The firm has a fifty day moving average of $195.15 and a 200-day moving average of $206.48. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.50 and a beta of 0.52. Dollar General has a 52-week low of $172.66 and a 52-week high of $225.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.43 and a current ratio of 1.28.
Dollar General announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 18th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 20th. Shareholders of record on Tuesday, April 6th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 0.78%. This is a boost from Dollar General’s previous quarterly dividend of $0.36. Dollar General’s dividend payout ratio (DPR) is currently 24.96%.
In other news, CFO John W. Garratt sold 26,127 shares of Dollar General stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $199.35, for a total transaction of $5,208,417.45. Following the completion of the transaction, the chief financial officer now directly owns 37,088 shares in the company, valued at approximately $7,393,492.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in DG. Norges Bank bought a new stake in shares of Dollar General in the fourth quarter valued at approximately $563,208,000. Morgan Stanley raised its stake in Dollar General by 60.5% in the fourth quarter. Morgan Stanley now owns 2,427,495 shares of the company’s stock valued at $510,501,000 after purchasing an additional 914,802 shares in the last quarter. Swedbank bought a new stake in Dollar General during the fourth quarter worth about $167,721,000. Nuveen Asset Management LLC grew its stake in Dollar General by 26.1% during the fourth quarter. Nuveen Asset Management LLC now owns 1,446,470 shares of the company’s stock worth $304,193,000 after buying an additional 299,137 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in Dollar General in the 4th quarter valued at about $48,950,000. 90.86% of the stock is owned by institutional investors and hedge funds.
Dollar General Company Profile
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 products; 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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