Dollar General (NYSE:DG) Issues Quarterly Earnings Results

Dollar General (NYSE:DG – Get Rating) issued its quarterly earnings data on Thursday. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.94 by $0.02, Briefing.com reports. The firm had revenue of $10.20 billion during the quarter, compared to the consensus estimate of $10.24 billion. Dollar General had a return on equity of 38.43% and a net margin of 6.49%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.57 earnings per share. Dollar General updated its FY 2023 guidance to $11.11-$11.32 EPS.

Dollar General Stock Performance

NYSE:DG traded down $3.26 during trading hours on Friday, reaching $208.83. The stock had a trading volume of 7,689,851 shares, compared to its average volume of 2,101,594. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.13 and a current ratio of 1.23. The stock has a 50 day simple moving average of $226.41 and a 200 day simple moving average of $239.17. Dollar General has a 12-month low of $183.25 and a 12-month high of $262.20. The stock has a market cap of $46.69 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.34.

Dollar General Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Tuesday, April 11th will be given a $0.59 dividend. This is an increase from Dollar General’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, April 10th. Dollar General’s dividend payout ratio (DPR) is currently 21.38%.

Analysts Set New Price Targets

DG has been the subject of several analyst reports. Truist Financial increased their price objective on Dollar General from $211.00 to $214.00 and gave the stock a “hold” rating in a research note on Friday. Piper Sandler lowered their price objective on Dollar General from $288.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, February 28th. Wells Fargo & Company lowered their price objective on Dollar General from $275.00 to $245.00 in a research note on Friday. BMO Capital Markets lowered their price objective on Dollar General from $255.00 to $230.00 in a research note on Friday. Finally, Credit Suisse Group assumed coverage on Dollar General in a research note on Monday, December 19th. They issued a “neutral” rating and a $260.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $250.50.

Insiders Place Their Bets

In other Dollar General news, Director Warren F. Bryant sold 1,951 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $243.93, for a total value of $475,907.43. Following the completion of the sale, the director now directly owns 38,269 shares of the company’s stock, valued at $9,334,957.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Dollar General

A number of large investors have recently made changes to their positions in the stock. Kinneret Advisory LLC boosted its holdings in shares of Dollar General by 2.3% in the first quarter. Kinneret Advisory LLC now owns 2,906 shares of the company’s stock worth $647,000 after acquiring an additional 65 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Dollar General by 7.6% in the fourth quarter. Evergreen Capital Management LLC now owns 1,160 shares of the company’s stock worth $286,000 after acquiring an additional 82 shares during the period. First Manhattan Co. boosted its holdings in shares of Dollar General by 447.4% in the fourth quarter. First Manhattan Co. now owns 104 shares of the company’s stock worth $26,000 after acquiring an additional 85 shares during the period. Forum Financial Management LP boosted its holdings in shares of Dollar General by 8.1% in the first quarter. Forum Financial Management LP now owns 1,200 shares of the company’s stock worth $267,000 after acquiring an additional 90 shares during the period. Finally, Lokken Investment Group LLC boosted its holdings in shares of Dollar General by 3.2% in the fourth quarter. Lokken Investment Group LLC now owns 3,178 shares of the company’s stock worth $783,000 after acquiring an additional 100 shares during the period. 90.73% of the stock is owned by institutional investors.

About Dollar General

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Dollar General Corp. engages in the operation of merchandise stores. Its offerings include food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items. It sells brands including Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J.