Burns J W & Co. Inc. NY Takes Position in Dollar General Co. (NYSE:DG)

Burns J W & Co. Inc. NY bought a new stake in Dollar General Co. (NYSE:DG) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,360 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in Dollar General by 162.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock worth $2,472,372,000 after purchasing an additional 11,257,537 shares during the last quarter. Vanguard Group Inc. increased its position in Dollar General by 18.9% during the third quarter. Vanguard Group Inc. now owns 21,711,407 shares of the company’s stock worth $2,297,067,000 after purchasing an additional 3,457,393 shares during the last quarter. Norges Bank acquired a new stake in Dollar General during the fourth quarter worth about $337,150,000. Capital International Investors increased its position in Dollar General by 13.9% during the fourth quarter. Capital International Investors now owns 18,676,538 shares of the company’s stock worth $2,539,026,000 after purchasing an additional 2,273,119 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Dollar General by 98.1% during the third quarter. The Manufacturers Life Insurance Company now owns 2,106,653 shares of the company’s stock worth $222,884,000 after purchasing an additional 1,043,141 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Dollar General Stock Up 1.5 %

DG stock opened at $132.23 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.18 and a debt-to-equity ratio of 0.89. Dollar General Co. has a twelve month low of $101.09 and a twelve month high of $173.47. The company’s 50 day moving average is $135.77 and its two-hundred day moving average is $140.00. The stock has a market cap of $29.08 billion, a P/E ratio of 19.25, a PEG ratio of 2.60 and a beta of 0.45.

Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, May 30th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.08. Dollar General had a net margin of 3.85% and a return on equity of 22.80%. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.89 billion. During the same quarter last year, the company earned $2.34 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Dollar General Co. will post 7.21 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.36 dividend on an annualized basis and a yield of 1.78%. Dollar General’s payout ratio is currently 34.35%.

Analysts Set New Price Targets

Several brokerages have weighed in on DG. JPMorgan Chase & Co. lowered their target price on shares of Dollar General from $161.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Morgan Stanley increased their target price on shares of Dollar General from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Dollar General in a research note on Wednesday, March 6th. Piper Sandler lowered their target price on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $170.00 target price on shares of Dollar General in a research note on Thursday, May 30th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $148.23.

Insiders Place Their Bets

In other news, EVP Carman R. Wenkoff sold 5,909 shares of Dollar General stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $162.23, for a total value of $958,617.07. Following the transaction, the executive vice president now directly owns 28,579 shares of the company’s stock, valued at approximately $4,636,371.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Carman R. Wenkoff sold 5,909 shares of Dollar General stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $162.23, for a total value of $958,617.07. Following the transaction, the executive vice president now directly owns 28,579 shares of the company’s stock, valued at approximately $4,636,371.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ralph Santana sold 3,009 shares of Dollar General stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $155.72, for a total transaction of $468,561.48. Following the completion of the transaction, the director now directly owns 3,248 shares in the company, valued at $505,778.56. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Dollar General 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.