Meeder Advisory Services Inc. Raises Holdings in Dollar General Co. (NYSE:DG)

Meeder Advisory Services Inc. raised its position in Dollar General Co. (NYSE:DG) by 39.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,544 shares of the company’s stock after purchasing an additional 723 shares during the period. Meeder Advisory Services Inc.’s holdings in Dollar General were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new stake in Dollar General during the 4th quarter valued at about $26,000. Bank & Trust Co acquired a new position in shares of Dollar General during the 2nd quarter worth approximately $26,000. Fortis Group Advisors LLC grew its position in shares of Dollar General by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Dollar General during the 2nd quarter valued at about $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Dollar General in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Price Performance

Shares of NYSE:DG opened at $84.75 on Monday. Dollar General Co. has a 12 month low of $77.96 and a 12 month high of $168.07. The firm has a market capitalization of $18.64 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.36 and a beta of 0.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. The company’s fifty day moving average price is $112.80 and its 200 day moving average price is $131.96.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. Dollar General’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Dollar General Co. will post 5.85 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.78%. Dollar General’s payout ratio is 34.35%.

Insider Transactions at Dollar General

In related news, Director Warren F. Bryant acquired 500 shares of Dollar General stock in a transaction on Thursday, September 5th. The stock was purchased at an average cost of $80.40 per share, with a total value of $40,200.00. Following the purchase, the director now directly owns 41,030 shares in the company, valued at $3,298,812. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Warren F. Bryant bought 1,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $80.83 per share, with a total value of $80,830.00. Following the completion of the acquisition, the director now directly owns 42,030 shares in the company, valued at $3,397,284.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Warren F. Bryant purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of $80.40 per share, with a total value of $40,200.00. Following the completion of the acquisition, the director now directly owns 41,030 shares of the company’s stock, valued at $3,298,812. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler dropped their price target 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. Bank of America lowered their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating for the company in a research report on Friday, August 30th. Oppenheimer reissued a “market perform” rating on shares of Dollar General in a research report on Monday, August 26th. Loop Capital dropped their price objective on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Finally, Truist Financial reduced their target price on shares of Dollar General from $135.00 to $130.00 and set a “hold” rating on the stock in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.95.

About Dollar General

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.