Investors Buy Dollar General Corp. (DG) on Weakness
Investors purchased 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 equities 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 equities analysts recently commented on DG shares. Deutsche Bank AG lowered shares of Dollar General Corp. from a “buy” rating to a “hold” rating and increased their target price for the company from $95.00 to $99.00 in a report on Monday, August 1st. They noted that the move was a valuation call. Morgan Stanley increased their target price on shares of Dollar General Corp. from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, July 18th. Zacks Investment Research raised shares of Dollar General Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, July 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Dollar General Corp. in a report on Friday, June 10th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $107.00 price target (up previously from $98.00) on shares of Dollar General Corp. in a report on Friday, June 3rd. Three investment 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 company currently has a consensus rating of “Buy” and an average price target of $95.81.
The stock has a 50-day moving average of $93.70 and a 200 day moving average of $84.83. The stock has a market capitalization of $26.37 billion and a price-to-earnings ratio of 22.41.
Dollar General Corp. (NYSE:DG) last posted its quarterly earnings results on Thursday, May 26th. The company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.08. The company earned $5.27 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts predict that Dollar General Corp. will post $4.64 EPS for the current fiscal year.
In other news, CAO Anita C. Elliott sold 2,947 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $91.11, for a total value of $268,501.17. Following the transaction, the chief accounting officer now directly owns 15,572 shares in the company, valued at $1,418,764.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors recently bought and sold shares of the company. Suntrust Banks Inc. boosted its position in 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 position in Dollar General Corp. during the fourth quarter worth approximately $1,638,000. First Niagara Bank boosted its position in 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. TrimTabs Asset Management LLC boosted its position in 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. Finally, US Bancorp DE boosted its position in Dollar General Corp. by 3.3% in the fourth quarter. US Bancorp DE now owns 30,090 shares of the company’s stock worth $2,163,000 after buying an additional 967 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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