Dollar General (NYSE:DG) Announces Quarterly Earnings Results

Dollar General (NYSE:DG – Get Rating) released its quarterly earnings data on Thursday. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.94 by $0.02, Briefing.com reports. Dollar General had a net margin of 6.49% and a return on equity of 38.43%. The business had revenue of $10.20 billion during the quarter, compared to analyst estimates of $10.24 billion. During the same quarter last year, the business earned $2.57 earnings per share. Dollar General’s quarterly revenue was up 17.9% compared to the same quarter last year. Dollar General updated its FY 2023 guidance to $11.11-$11.32 EPS.

Dollar General Trading Down 1.5 %

NYSE DG opened at $208.83 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.13 and a current ratio of 1.23. The company has a market capitalization of $46.69 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.34. The company’s 50-day simple moving average is $226.41 and its two-hundred day simple moving average is $239.17. Dollar General has a one year low of $183.25 and a one year high of $262.20.

Dollar General Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Tuesday, April 11th will be given a dividend of $0.59 per share. This is an increase from Dollar General’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, April 10th. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. Dollar General’s dividend payout ratio (DPR) is 21.38%.

Insider Buying and Selling at Dollar General

In other Dollar General news, Director Warren F. Bryant sold 1,951 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $243.93, for a total transaction of $475,907.43. Following the transaction, the director now owns 38,269 shares of the company’s stock, valued at approximately $9,334,957.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Dollar General

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in Dollar General by 10.4% during the 4th quarter. Harbour Investments Inc. now owns 1,194 shares of the company’s stock worth $294,000 after buying an additional 112 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Dollar General during the fourth quarter worth about $288,000. Evergreen Capital Management LLC increased its holdings in shares of Dollar General by 7.6% during the fourth quarter. Evergreen Capital Management LLC now owns 1,160 shares of the company’s stock valued at $286,000 after acquiring an additional 82 shares in the last quarter. Laidlaw Wealth Management LLC increased its holdings in shares of Dollar General by 23.2% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,131 shares of the company’s stock valued at $279,000 after acquiring an additional 213 shares in the last quarter. Finally, Forum Financial Management LP raised its position in shares of Dollar General by 8.1% in the 1st quarter. Forum Financial Management LP now owns 1,200 shares of the company’s stock valued at $267,000 after purchasing an additional 90 shares during the last quarter. 90.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DG has been the subject of several research reports. StockNews.com initiated coverage on shares of Dollar General in a research report on Thursday. They set a “hold” rating for the company. BMO Capital Markets lowered their target price on shares of Dollar General from $255.00 to $230.00 in a report on Friday. Piper Sandler lowered their target price on shares of Dollar General from $288.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, February 28th. Wells Fargo & Company lowered their target price on shares of Dollar General from $275.00 to $245.00 in a report on Friday. Finally, Truist Financial raised their target price on shares of Dollar General from $211.00 to $214.00 and gave the stock a “hold” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.50.

Dollar General Company Profile

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Dollar General Corp. engages in the operation of merchandise stores. Its offerings include food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items. It sells brands including Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J.