Magellan Asset Management Ltd trimmed its position in Dollar General Corporation (NYSE:DG – Free Report) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,064 shares of the company’s stock after selling 137,381 shares during the quarter. Magellan Asset Management Ltd’s holdings in Dollar General were worth $48,449,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Dollar General by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 27,309,045 shares of the company’s stock valued at $3,625,822,000 after acquiring an additional 412,542 shares during the period. State Street Corp boosted its stake in Dollar General by 0.5% in the 4th quarter. State Street Corp now owns 11,017,002 shares of the company’s stock worth $1,462,727,000 after purchasing an additional 53,624 shares during the period. Morgan Stanley grew its position in Dollar General by 35.0% during the 4th quarter. Morgan Stanley now owns 6,270,333 shares of the company’s stock worth $832,513,000 after purchasing an additional 1,624,748 shares in the last quarter. Geode Capital Management LLC grew its position in Dollar General by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 5,707,809 shares of the company’s stock worth $754,857,000 after purchasing an additional 42,936 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Dollar General by 47.9% during the 4th quarter. AQR Capital Management LLC now owns 3,734,500 shares of the company’s stock valued at $495,830,000 after purchasing an additional 1,208,892 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.
Dollar General Stock Down 1.2%
DG stock opened at $123.28 on Wednesday. The company has a 50 day moving average of $112.67 and a two-hundred day moving average of $127.36. The company has a market cap of $27.19 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.90 and a beta of 0.25. Dollar General Corporation has a 12-month low of $95.11 and a 12-month high of $158.23. The company has a quick ratio of 0.25, a current ratio of 1.17 and a debt-to-equity ratio of 0.52.
Dollar General Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Dollar General’s dividend payout ratio (DPR) is presently 33.38%.
Analyst Ratings Changes
A number of research firms have recently issued reports on DG. Piper Sandler reduced their target price on Dollar General from $133.00 to $118.00 and set a “neutral” rating for the company in a report on Wednesday, June 3rd. Raymond James Financial reiterated an “outperform” rating and set a $145.00 price target on shares of Dollar General in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Dollar General from $110.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday, June 4th. Evercore reduced their price objective on Dollar General from $145.00 to $140.00 in a research note on Wednesday, June 3rd. Finally, Gordon Haskett lowered Dollar General from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $140.00 to $110.00 in a research report on Friday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $131.27.
View Our Latest Research Report on Dollar General
Dollar General Company Profile
Dollar General Corporation is a U.S.-based variety and discount retailer operating a large network of small-format stores that serve primarily rural and suburban communities. The company is publicly traded on the New York Stock Exchange under the ticker DG and is headquartered in the Nashville/Goodlettsville, Tennessee area. Founded in 1939, Dollar General has grown from a regional operation into one of the nation’s prominent low-price retailers focused on convenience and value.
Dollar General’s stores offer a wide assortment of everyday consumables and household goods, including food and beverage items, cleaning supplies, health and beauty products, paper goods, apparel basics, seasonal merchandise and small household items.
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