Credit Suisse Group began coverage on shares of Dollar General (NYSE:DG) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $103.00 price objective on the stock.
A number of other analysts have also recently weighed in on the company. Telsey Advisory Group upgraded Dollar General from a market perform rating to an outperform rating and raised their price target for the company from $98.00 to $120.00 in a research note on Thursday, January 25th. Wolfe Research upgraded Dollar General from an underperform rating to an outperform rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Dollar General from a hold rating to a strong-buy rating and set a $110.00 price target on the stock in a research note on Tuesday, February 6th. Oppenheimer initiated coverage on Dollar General in a research note on Wednesday, January 17th. They issued an outperform rating and a $112.00 price target on the stock. Finally, Wells Fargo restated an outperform rating and issued a $113.00 price target (down from $117.00) on shares of Dollar General in a research note on Tuesday, February 27th. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $96.70.
Dollar General stock opened at $99.00 on Tuesday. Dollar General has a 1-year low of $65.97 and a 1-year high of $105.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.22 and a current ratio of 1.43. The firm has a market capitalization of $27,205.24, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02.
Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, March 15th. The company reported $1.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.48. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. The company had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the firm earned $1.49 earnings per share. Dollar General’s quarterly revenue was up 2.0% on a year-over-year basis. analysts anticipate that Dollar General will post 6.01 earnings per share for the current fiscal year.
Dollar General declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 24th. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.29 per share. This is a positive change 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 1.17%. Dollar General’s dividend payout ratio (DPR) is presently 25.84%.
In related news, EVP Robert D. Ravener sold 9,874 shares of the firm’s stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $100.62, for a total transaction of $993,521.88. Following the transaction, the executive vice president now owns 28,307 shares of the company’s stock, valued at $2,848,250.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Anita C. Elliott sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $100.87, for a total value of $302,610.00. Following the transaction, the senior vice president now directly owns 11,313 shares in the company, valued at approximately $1,141,142.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,987 shares of company stock worth $2,242,255. Corporate insiders own 0.22% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC purchased a new stake in Dollar General in the 4th quarter valued at approximately $130,000. Calton & Associates Inc. purchased a new stake in Dollar General in the 4th quarter valued at approximately $144,000. Pin Oak Investment Advisors Inc. purchased a new stake in Dollar General in the 4th quarter valued at approximately $142,000. Premia Global Advisors LLC purchased a new stake in Dollar General in the 4th quarter valued at approximately $195,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Dollar General by 104.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,153 shares of the company’s stock valued at $200,000 after purchasing an additional 1,102 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
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About Dollar General
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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