Dollar General (NYSE:DG) Sets New 52-Week Low After Analyst Downgrade

Dollar General Co. (NYSE:DG) hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $154.00 to $102.00. Barclays currently has an overweight rating on the stock. Dollar General traded as low as $81.90 and last traded at $81.90, with a volume of 99261 shares changing hands. The stock had previously closed at $83.79.

DG has been the subject of a number of other reports. Truist Financial cut their price target on Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a report on Monday, August 26th. UBS Group lowered their price target on Dollar General from $155.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. BMO Capital Markets decreased their price objective on Dollar General from $130.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Gordon Haskett downgraded Dollar General from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a report on Friday, August 30th. Finally, Bank of America cut their price objective on Dollar General from $118.00 to $95.00 and set an “underperform” rating on the stock in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $113.95.

Institutional Investors Weigh In On Dollar General

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Dollar General by 162.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock worth $2,472,372,000 after purchasing an additional 11,257,537 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Dollar General by 15.5% in the fourth quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock valued at $3,408,514,000 after buying an additional 3,360,413 shares during the last quarter. Norges Bank acquired a new position in shares of Dollar General in the fourth quarter valued at approximately $337,150,000. Capital International Investors raised its position in shares of Dollar General by 13.9% in the fourth quarter. Capital International Investors now owns 18,676,538 shares of the company’s stock valued at $2,539,026,000 after buying an additional 2,273,119 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Dollar General in the first quarter valued at approximately $301,738,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Dollar General Trading Down 3.2 %

The business’s fifty day moving average is $119.37 and its 200-day moving average is $134.96. The stock has a market capitalization of $17.83 billion, a PE ratio of 11.80, a P/E/G ratio of 2.25 and a beta of 0.43. The company has a quick ratio of 0.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.86.

Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Dollar General’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Dollar General Co. will post 6.45 EPS for the current fiscal year.

Dollar General Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $2.36 annualized dividend and a yield of 2.91%. Dollar General’s dividend payout ratio is presently 34.35%.

Dollar General Company Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.