JPMorgan Chase Upgrades Dollar General (DG) to Overweight
Dollar General (NYSE:DG) was upgraded by analysts at JPMorgan Chase from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, The Fly reports.
Several other research firms also recently commented on DG. Telsey Advisory Group upgraded Dollar General from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $98.00 to $120.00 in a report on Thursday, January 25th. Wells Fargo upgraded Dollar General from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $102.27 to $117.00 in a report on Tuesday, January 23rd. Citigroup assumed coverage on Dollar General in a report on Tuesday, January 16th. They set an “outperform” rating and a $112.00 price objective for the company. Oppenheimer assumed coverage on Dollar General in a report on Wednesday, January 17th. They set an “outperform” rating and a $112.00 price objective for the company. Finally, ValuEngine upgraded Dollar General from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $97.91.
Shares of DG opened at $97.07 on Tuesday. Dollar General has a 52-week low of $65.97 and a 52-week high of $105.82. The company has a current ratio of 1.43, a quick ratio of 0.22 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $26,146.14, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.
Dollar General announced that its Board of Directors has initiated a stock buyback program on Thursday, March 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In other Dollar General news, SVP Michael J. Kindy sold 8,221 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $93.05, for a total value of $764,964.05. Following the completion of the transaction, the senior vice president now owns 9,850 shares in the company, valued at approximately $916,542.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anita C. Elliott sold 1,892 shares of the company’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $95.75, for a total value of $181,159.00. Following the completion of the transaction, the chief accounting officer now owns 14,313 shares of the company’s stock, valued at approximately $1,370,469.75. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Large investors have recently made changes to their positions in the business. Meadow Creek Investment Management LLC grew its stake in Dollar General by 4.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 64,204 shares of the company’s stock valued at $5,971,000 after purchasing an additional 2,968 shares during the period. Burney Co. grew its stake in Dollar General by 15.4% in the 4th quarter. Burney Co. now owns 16,355 shares of the company’s stock valued at $1,521,000 after purchasing an additional 2,178 shares during the period. Washington Capital Management Inc. bought a new position in Dollar General in the 4th quarter valued at $344,000. Maverick Capital Ltd. grew its stake in Dollar General by 37.3% in the 4th quarter. Maverick Capital Ltd. now owns 218,840 shares of the company’s stock valued at $20,354,000 after purchasing an additional 59,490 shares during the period. Finally, Patten Group Inc. grew its stake in Dollar General by 35.1% in the 4th quarter. Patten Group Inc. now owns 4,059 shares of the company’s stock valued at $378,000 after purchasing an additional 1,055 shares during the period. Hedge funds and other institutional investors 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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