Investors Buy Dollar General Corp. (DG) on Weakness
Traders bought shares of Dollar General Corp. (NYSE:DG) on weakness during trading hours on Thursday. $47.36 million flowed into the stock on the tick-up and $39.77 million flowed out of the stock on the tick-down, for a money net flow of $7.59 million into the stock. Of all companies tracked, Dollar General Corp. had the 23rd highest net in-flow for the day. Dollar General Corp. traded down ($0.30) for the day and closed at $92.72
Several brokerages have recently issued reports on DG. Deutsche Bank AG cut Dollar General Corp. from a “buy” rating to a “hold” rating and lifted their price objective for the company from $95.00 to $99.00 in a research note on Monday, August 1st. They noted that the move was a valuation call. Morgan Stanley raised their target price on Dollar General Corp. from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, July 18th. Zacks Investment Research raised Dollar General Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Dollar General Corp. in a research report on Friday, June 10th. Finally, Citigroup Inc. reissued a “buy” rating and set a $107.00 target price (up previously from $98.00) on shares of Dollar General Corp. in a research report on Friday, June 3rd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $95.81.
The company has a 50 day moving average price of $93.64 and a 200-day moving average price of $84.74. The stock has a market cap of $26.31 billion and a P/E ratio of 22.37.
Dollar General Corp. (NYSE:DG) last released its earnings results on Thursday, May 26th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that Dollar General Corp. will post $4.64 EPS for the current year.
In other news, CAO Anita C. Elliott sold 2,947 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $91.11, for a total transaction of $268,501.17. Following the sale, the chief accounting officer now directly owns 15,572 shares in the company, valued at approximately $1,418,764.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in shares of Dollar General Corp. by 370.5% in the fourth quarter. Suntrust Banks Inc. now owns 21,979 shares of the company’s stock worth $1,578,000 after buying an additional 17,308 shares during the last quarter. Gluskin Sheff & Assoc Inc. bought a new stake in shares of Dollar General Corp. during the fourth quarter worth $1,638,000. First Niagara Bank boosted its stake in shares of Dollar General Corp. by 66.9% in the fourth quarter. First Niagara Bank now owns 27,358 shares of the company’s stock worth $1,966,000 after buying an additional 10,964 shares during the last quarter. Advantus Capital Management Inc boosted its stake in shares of Dollar General Corp. by 1.7% in the fourth quarter. Advantus Capital Management Inc now owns 28,053 shares of the company’s stock worth $2,016,000 after buying an additional 462 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Dollar General Corp. by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 28,879 shares of the company’s stock worth $2,076,000 after buying an additional 537 shares during the last quarter.
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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