Panagora Asset Management Inc. Has $4.16 Million Stock Holdings in Dollar General Co. (NYSE:DG)

Posted by Defense World Staff on Jun 10th, 2023

Panagora Asset Management Inc. trimmed its position in Dollar General Co. (NYSE:DG – Get Rating) by 57.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,909 shares of the company’s stock after selling 23,104 shares during the quarter. Panagora Asset Management Inc.’s holdings in Dollar General were worth $4,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in shares of Dollar General by 106.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,201,998 shares of the company’s stock worth $542,242,000 after purchasing an additional 1,137,029 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Dollar General by 333.3% during the 3rd quarter. Alliancebernstein L.P. now owns 1,422,409 shares of the company’s stock worth $341,179,000 after purchasing an additional 1,094,109 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Dollar General during the 4th quarter worth $219,905,000. AustralianSuper Pty Ltd acquired a new stake in shares of Dollar General during the 4th quarter worth $217,250,000. Finally, Marshall Wace LLP grew its holdings in shares of Dollar General by 256.1% during the 3rd quarter. Marshall Wace LLP now owns 829,302 shares of the company’s stock worth $198,916,000 after purchasing an additional 596,393 shares in the last quarter. 90.73% of the stock is owned by institutional investors and hedge funds.

Dollar General Price Performance

Shares of DG opened at $153.11 on Friday. The business has a 50-day moving average of $207.14 and a 200-day moving average of $223.40. Dollar General Co. has a 1 year low of $152.75 and a 1 year high of $261.59. The company has a market capitalization of $33.58 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.56 and a beta of 0.34. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 0.12.

Dollar General (NYSE:DG – Get Rating) last released its earnings results on Thursday, June 1st. The company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.04). Dollar General had a return on equity of 40.03% and a net margin of 6.19%. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.47 billion. During the same period in the prior year, the business earned $2.41 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Dollar General Co. will post 10.08 earnings per share for the current year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Tuesday, July 11th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, July 10th. This represents a $2.36 annualized dividend and a yield of 1.54%. Dollar General’s dividend payout ratio is currently 22.24%.

Insider Buying and Selling

In other Dollar General news, CEO Jeffery Owen bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was acquired at an average price of $157.86 per share, with a total value of $236,790.00. Following the completion of the purchase, the chief executive officer now directly owns 55,720 shares of the company’s stock, valued at approximately $8,795,959.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jeffery Owen acquired 1,500 shares of Dollar General stock in a transaction on Tuesday, June 6th. The stock was purchased at an average price of $157.86 per share, with a total value of $236,790.00. Following the completion of the purchase, the chief executive officer now owns 55,720 shares of the company’s stock, valued at approximately $8,795,959.20. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Todd J. Vasos sold 27,327 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $156.65, for a total value of $4,280,774.55. Following the completion of the sale, the director now directly owns 118,635 shares of the company’s stock, valued at approximately $18,584,172.75. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DG has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Dollar General from $214.00 to $166.00 in a research report on Friday, June 2nd. Raymond James dropped their price objective on Dollar General from $255.00 to $200.00 in a research report on Friday, June 2nd. Piper Sandler downgraded Dollar General from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $275.00 to $178.00 in a research report on Thursday, June 1st. Telsey Advisory Group restated an “outperform” rating and set a $242.00 price objective on shares of Dollar General in a research report on Friday, March 17th. Finally, Daiwa Capital Markets downgraded Dollar General from an “outperform” rating to a “neutral” rating and set a $172.00 price objective for the company. in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.14.

Dollar General 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.