Teca Partners LP Invests $3.39 Million in Dollar General Co. (NYSE:DG)

Posted by Defense World Staff on Sep 9th, 2023

Teca Partners LP acquired a new position in Dollar General Co. (NYSE:DG – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,085 shares of the company’s stock, valued at approximately $3,385,000. Dollar General makes up about 4.1% of Teca Partners LP’s investment portfolio, making the stock its 12th biggest position.

A number of other institutional investors have also added to or reduced their stakes in DG. D.A. Davidson & CO. increased its holdings in Dollar General by 21.6% during the first quarter. D.A. Davidson & CO. now owns 1,034 shares of the company’s stock worth $230,000 after buying an additional 184 shares during the last quarter. Dakota Wealth Management acquired a new position in Dollar General during the first quarter worth $474,000. Baird Financial Group Inc. increased its holdings in shares of Dollar General by 26.3% in the first quarter. Baird Financial Group Inc. now owns 58,834 shares of the company’s stock valued at $13,098,000 after purchasing an additional 12,262 shares during the last quarter. Covestor Ltd increased its holdings in shares of Dollar General by 156.4% in the first quarter. Covestor Ltd now owns 418 shares of the company’s stock valued at $93,000 after purchasing an additional 255 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Dollar General by 17.7% in the first quarter. Mackenzie Financial Corp now owns 71,629 shares of the company’s stock valued at $15,947,000 after purchasing an additional 10,773 shares during the last quarter. 90.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DG shares. VNET Group reiterated a “maintains” rating on shares of Dollar General in a report on Friday, June 2nd. BMO Capital Markets decreased their price objective on shares of Dollar General from $175.00 to $135.00 and set a “market perform” rating on the stock in a report on Friday, September 1st. The Goldman Sachs Group decreased their price objective on shares of Dollar General from $216.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, September 1st. UBS Group decreased their price objective on shares of Dollar General from $200.00 to $181.00 in a report on Friday, September 1st. Finally, Wells Fargo & Company downgraded shares of Dollar General from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $178.00 to $165.00 in a research note on Tuesday, June 6th. Seventeen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.41.

Get Our Latest Report on DG

Dollar General Stock Up 2.8 %

DG stock opened at $127.20 on Friday. The stock has a market capitalization of $27.92 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.30. The company has a current ratio of 1.39, a quick ratio of 0.12 and a debt-to-equity ratio of 1.16. Dollar General Co. has a 12 month low of $123.31 and a 12 month high of $261.59. The firm has a 50-day moving average price of $159.94 and a 200-day moving average price of $187.77.

Dollar General (NYSE:DG – Get Free Report) last posted its earnings results on Thursday, August 31st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.34). The company had revenue of $9.80 billion during the quarter, compared to the consensus estimate of $9.93 billion. Dollar General had a return on equity of 36.34% and a net margin of 5.59%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.98 EPS. As a group, equities research analysts anticipate that Dollar General Co. will post 7.82 EPS for the current fiscal year.

Dollar General Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.86%. Dollar General’s dividend payout ratio (DPR) is currently 24.18%.

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.