Putnam Investments LLC Raises Position in Dollar General Corp. (DG)
Putnam Investments LLC boosted its stake in Dollar General Corp. (NYSE:DG) by 3,042.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,873 shares of the company’s stock after buying an additional 114,122 shares during the quarter. Putnam Investments LLC’s holdings in Dollar General were worth $11,622,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of DG. Sei Investments Co. lifted its stake in Dollar General by 4.3% in the 2nd quarter. Sei Investments Co. now owns 262,817 shares of the company’s stock worth $25,913,000 after purchasing an additional 10,876 shares in the last quarter. Achmea Investment Management B.V. lifted its stake in Dollar General by 16.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 44,547 shares of the company’s stock worth $4,388,000 after purchasing an additional 6,319 shares in the last quarter. Atria Investments LLC lifted its stake in Dollar General by 31.5% in the 2nd quarter. Atria Investments LLC now owns 22,588 shares of the company’s stock worth $2,227,000 after purchasing an additional 5,406 shares in the last quarter. Telos Capital Management Inc. increased its holdings in shares of Dollar General by 7.5% during the 2nd quarter. Telos Capital Management Inc. now owns 17,222 shares of the company’s stock worth $1,698,000 after buying an additional 1,206 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Dollar General by 52.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 48,260 shares of the company’s stock worth $4,758,000 after buying an additional 16,670 shares during the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on DG shares. Credit Suisse Group set a $103.00 price target on shares of Dollar General and gave the stock a “hold” rating in a report on Tuesday, May 29th. Loop Capital restated a “hold” rating on shares of Dollar General in a report on Wednesday, May 30th. Telsey Advisory Group cut their price target on shares of Dollar General from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, June 1st. Morgan Stanley cut their price target on shares of Dollar General from $122.00 to $116.00 and set an “overweight” rating for the company in a report on Friday, June 1st. Finally, Barclays cut their price target on shares of Dollar General from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Dollar General has a consensus rating of “Buy” and an average price target of $103.33.
Dollar General stock opened at $109.33 on Thursday. Dollar General Corp. has a fifty-two week low of $76.13 and a fifty-two week high of $112.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.55 and a quick ratio of 0.21. The company has a market capitalization of $28.98 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.31 and a beta of 0.94.
Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, August 30th. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.03. Dollar General had a net margin of 7.06% and a return on equity of 23.51%. The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter last year, the company posted $1.10 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. sell-side analysts expect that Dollar General Corp. will post 6.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 5th. This represents a $1.16 annualized dividend and a yield of 1.06%. Dollar General’s dividend payout ratio is presently 25.84%.
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, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.
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