Scopus Asset Management L.P. bought a new position in Dollar General Co. (NYSE:DG) in the 1st quarter, Holdings Channel.com reports. The fund bought 400,000 shares of the company’s stock, valued at approximately $81,048,000. Dollar General accounts for about 1.0% of Scopus Asset Management L.P.’s portfolio, making the stock its 16th largest holding.
Other institutional investors also recently modified their holdings of the company. NorthCoast Asset Management LLC grew its position in shares of Dollar General by 1.4% in the 1st quarter. NorthCoast Asset Management LLC now owns 4,677 shares of the company’s stock worth $948,000 after acquiring an additional 65 shares in the last quarter. Voloridge Investment Management LLC grew its position in shares of Dollar General by 611.5% during the 1st quarter. Voloridge Investment Management LLC now owns 170,186 shares of the company’s stock valued at $34,483,000 after buying an additional 146,268 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Dollar General by 220.9% during the first quarter. Point72 Asset Management L.P. now owns 488,190 shares of the company’s stock valued at $98,917,000 after purchasing an additional 336,061 shares during the last quarter. Eaton Vance Management raised its position in shares of Dollar General by 225.3% during the 1st quarter. Eaton Vance Management now owns 84,904 shares of the company’s stock worth $17,203,000 after purchasing an additional 58,803 shares during the period. Finally, Evercore Wealth Management LLC acquired a new position in Dollar General during the 1st quarter valued at approximately $238,000. Institutional investors and hedge funds own 89.57% of the company’s stock.
DG has been the subject of several analyst reports. Citigroup boosted their price target on shares of Dollar General from $250.00 to $260.00 and gave the company a “buy” rating in a report on Friday, May 28th. Deutsche Bank Aktiengesellschaft upped their target price on Dollar General from $226.00 to $231.00 and gave the stock a “buy” rating in a research report on Tuesday, June 1st. KeyCorp reissued a “sector weight” rating on shares of Dollar General in a research note on Monday, May 10th. Telsey Advisory Group lifted their target price on Dollar General from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, May 25th. Finally, Piper Sandler upped their price target on shares of Dollar General from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, May 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $235.35.
Dollar General (NYSE:DG) last announced its quarterly earnings data on Wednesday, May 26th. The company reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.63. Dollar General had a net margin of 7.96% and a return on equity of 39.37%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts predict that Dollar General Co. will post 10.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 20th. Shareholders of record on Tuesday, July 6th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, July 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.75%. Dollar General’s payout ratio is presently 15.82%.
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 products; 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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