Dollar General (DG) Earns “Outperform” Rating from Raymond James Financial
Raymond James Financial reaffirmed their outperform rating on shares of Dollar General (NYSE:DG) in a research note issued to investors on Monday morning, MarketBeat reports. They currently have a $105.00 target price on the stock, down from their previous target price of $110.00.
A number of other equities analysts also recently commented on the stock. UBS downgraded shares of Dollar General from a strong-buy rating to an outperform rating in a research note on Monday. Morgan Stanley set a $121.00 target price on shares of Dollar General and gave the stock a buy rating in a research note on Friday, March 16th. Loop Capital upped their price objective on shares of Dollar General from $87.00 to $97.00 and gave the company a hold rating in a research note on Thursday, March 15th. They noted that the move was a valuation call. Royal Bank of Canada decreased their price objective on shares of Dollar General to $101.00 and set an outperform rating for the company in a research note on Wednesday, March 14th. Finally, ValuEngine downgraded shares of Dollar General from a buy rating to a hold rating in a research note on Thursday, March 1st. Twelve equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $97.91.
Shares of DG stock opened at $97.07 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.43 and a quick ratio of 0.22. The firm has a market cap of $26,146.14, a P/E ratio of 20.98, a PEG ratio of 1.10 and a beta of 1.01. Dollar General has a 12 month low of $65.97 and a 12 month high of $105.82.
Dollar General announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 24th. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.29 per share. This is an increase from Dollar General’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.16 annualized dividend and a dividend yield of 1.20%. Dollar General’s dividend payout ratio is 25.84%.
In other news, CAO Anita C. Elliott sold 1,892 shares of the stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $95.75, for a total transaction of $181,159.00. Following the completion of the sale, the chief accounting officer now owns 14,313 shares in the company, valued at $1,370,469.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Kindy sold 8,221 shares of the stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $93.05, for a total transaction of $764,964.05. Following the sale, the senior vice president now owns 9,850 shares of the company’s stock, valued at approximately $916,542.50. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in DG. Dimensional Fund Advisors LP boosted its stake in shares of Dollar General by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,341,388 shares of the company’s stock worth $108,710,000 after buying an additional 25,619 shares during the period. Stifel Financial Corp boosted its stake in shares of Dollar General by 6.9% during the third quarter. Stifel Financial Corp now owns 35,984 shares of the company’s stock worth $2,926,000 after buying an additional 2,335 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Dollar General during the third quarter worth about $348,000. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Dollar General by 2.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 44,720 shares of the company’s stock worth $3,623,000 after buying an additional 1,024 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Dollar General by 12.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,494 shares of the company’s stock worth $1,336,000 after buying an additional 1,830 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.
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Dollar General Company Profile
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products comprising paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food products, such as cereals, canned soups and vegetables, condiments, spices, sugar, and flour; perishables consisting of milk, eggs, bread, refrigerated and frozen food, beer, and wine; snacks that comprise candies, cookies, crackers, salty snacks, and carbonated beverages; health and beauty products, such as over-the-counter medicines, as well as soap, body wash, shampoo, dental hygiene, and foot care products; pet products, which include pet supplies and pet food; and tobacco products.
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