Dollar General (DG) Shares Gap Up to $97.07

Dollar General (NYSE:DG) gapped up prior to trading on Tuesday . The stock had previously closed at $93.46, but opened at $97.07. Dollar General shares last traded at $99.87, with a volume of 2900366 shares changing hands.

A number of equities research analysts have commented on DG shares. Oppenheimer started coverage on Dollar General in a report on Wednesday, January 17th. They issued an “outperform” rating and a $112.00 target price for the company. ValuEngine downgraded Dollar General from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Loop Capital raised their target price on Dollar General from $87.00 to $97.00 and gave the company a “hold” rating in a report on Thursday, March 15th. They noted that the move was a valuation call. Raymond James restated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Dollar General in a research report on Monday. Finally, Morgan Stanley set a $121.00 price target on Dollar General and gave the company a “buy” rating in a research report on Friday, March 16th. Eleven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Dollar General has an average rating of “Buy” and a consensus target price of $96.70.

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The company has a debt-to-equity ratio of 0.43, a current ratio of 1.43 and a quick ratio of 0.22. The firm has a market cap of $27,121.05, a P/E ratio of 22.10, a PEG 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 EPS for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Dollar General had a return on equity of 21.65% and a net margin of 6.55%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 EPS. analysts forecast that Dollar General will post 6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 24th. Stockholders of record on Tuesday, April 10th will be paid a $0.29 dividend. This is a positive change from Dollar General’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, April 9th. Dollar General’s payout ratio is currently 25.84%.

Dollar General declared that its board has authorized a stock repurchase plan on Thursday, March 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, CAO Anita C. Elliott sold 1,892 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $95.75, for a total transaction of $181,159.00. Following the transaction, the chief accounting officer now directly owns 14,313 shares of the company’s stock, valued at approximately $1,370,469.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Kindy sold 8,221 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9,850 shares in the company, valued at $916,542.50. The disclosure for this sale can be found here. Insiders sold a total of 19,987 shares of company stock worth $1,939,645 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd acquired a new position in shares of Dollar General in the 4th quarter valued at approximately $194,984,000. Amundi Pioneer Asset Management Inc. raised its position in shares of Dollar General by 39.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,942,230 shares of the company’s stock valued at $180,646,000 after purchasing an additional 553,461 shares in the last quarter. PGGM Investments raised its position in shares of Dollar General by 126.7% in the 4th quarter. PGGM Investments now owns 632,700 shares of the company’s stock valued at $58,847,000 after purchasing an additional 353,601 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in shares of Dollar General in the 4th quarter valued at approximately $30,190,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Dollar General in the 4th quarter valued at approximately $28,182,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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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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