Asset Management One Co. Ltd. Cuts Position in Dollar General Co. (NYSE:DG)

Posted by on Jul 10th, 2023

Asset Management One Co. Ltd. decreased its holdings in Dollar General Co. (NYSE:DG – Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 101,169 shares of the company’s stock after selling 5,500 shares during the period. Asset Management One Co. Ltd.’s holdings in Dollar General were worth $21,292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DG. Price T Rowe Associates Inc. MD raised its stake in shares of Dollar General by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,741,755 shares of the company’s stock valued at $3,383,907,000 after purchasing an additional 192,873 shares during the period. Morgan Stanley raised its stake in shares of Dollar General by 38.5% during the fourth quarter. Morgan Stanley now owns 4,744,478 shares of the company’s stock valued at $1,168,329,000 after purchasing an additional 1,318,412 shares during the period. Geode Capital Management LLC raised its stake in shares of Dollar General by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,233,760 shares of the company’s stock valued at $1,040,610,000 after purchasing an additional 50,259 shares during the period. Alliancebernstein L.P. raised its stake in shares of Dollar General by 124.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,193,127 shares of the company’s stock valued at $786,308,000 after purchasing an additional 1,770,718 shares during the period. Finally, Norges Bank purchased a new stake in shares of Dollar General during the fourth quarter valued at approximately $564,881,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DG shares. BMO Capital Markets dropped their price objective on shares of Dollar General from $230.00 to $175.00 in a research note on Friday, June 2nd. Credit Suisse Group decreased their price target on shares of Dollar General from $220.00 to $170.00 in a research report on Friday, June 2nd. Daiwa Capital Markets downgraded shares of Dollar General from an “outperform” rating to a “neutral” rating and set a $172.00 price target for the company. in a research report on Tuesday, June 6th. StockNews.com began coverage on shares of Dollar General in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Piper Sandler downgraded shares of Dollar General from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $275.00 to $178.00 in a research report on Thursday, June 1st. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Dollar General presently has an average rating of “Moderate Buy” and an average target price of $202.71.

Insiders Place Their Bets

In other Dollar General news, CEO Jeffery Owen purchased 1,500 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were purchased at an average cost of $157.86 per share, for a total transaction of $236,790.00. Following the completion of the transaction, the chief executive officer now owns 55,720 shares in the company, valued at $8,795,959.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael M. Calbert purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average price of $155.25 per share, with a total value of $388,125.00. Following the purchase, the director now owns 116,682 shares of the company’s stock, valued at approximately $18,114,880.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffery Owen purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was bought at an average cost of $157.86 per share, for a total transaction of $236,790.00. Following the purchase, the chief executive officer now directly owns 55,720 shares in the company, valued at approximately $8,795,959.20. The disclosure for this purchase can be found here. 0.60% of the stock is owned by company insiders.

Dollar General Price Performance

Shares of NYSE DG opened at $169.33 on Monday. Dollar General Co. has a fifty-two week low of $151.27 and a fifty-two week high of $261.59. The firm’s 50-day simple moving average is $187.20 and its 200 day simple moving average is $211.58. The company has a quick ratio of 0.12, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. The stock has a market cap of $37.14 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.76 and a beta of 0.29.

Dollar General (NYSE:DG – Free Report) last issued its quarterly earnings data on Thursday, June 1st. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.04). Dollar General had a net margin of 6.19% and a return on equity of 40.03%. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.47 billion. During the same quarter in the prior year, the firm earned $2.41 earnings per share. Dollar General’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that Dollar General Co. will post 10.03 EPS for the current year.

Dollar General Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, July 10th. Dollar General’s dividend payout ratio (DPR) is presently 22.24%.

Dollar General Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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