Swedbank AB Raises Stake in Dollar General Co. (NYSE:DG)

Swedbank AB grew its holdings in Dollar General Co. (NYSE:DG) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 111,945 shares of the company’s stock after buying an additional 10,521 shares during the period. Swedbank AB owned 0.05% of Dollar General worth $9,467,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Bank & Trust Co purchased a new stake in Dollar General during the 2nd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Dollar General during the second quarter worth $33,000. Studio Investment Management LLC grew its position in Dollar General by 117.7% in the 2nd quarter. Studio Investment Management LLC now owns 283 shares of the company’s stock valued at $37,000 after buying an additional 153 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Dollar General during the 2nd quarter worth $37,000. Finally, Salem Investment Counselors Inc. raised its position in Dollar General by 104.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 250 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Price Performance

DG stock opened at $81.86 on Friday. The stock’s 50 day moving average price is $94.11 and its 200 day moving average price is $120.60. The firm has a market cap of $18.00 billion, a P/E ratio of 11.92, a PEG ratio of 2.42 and a beta of 0.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 1.22. Dollar General Co. has a 1 year low of $77.96 and a 1 year high of $168.07.

Dollar General (NYSE:DG) last posted its quarterly earnings data on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Dollar General had a net margin of 3.57% and a return on equity of 20.62%. The company had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same period in the previous year, the business earned $2.13 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Dollar General Co. will post 5.86 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.88%. Dollar General’s dividend payout ratio (DPR) is currently 34.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DG. Wells Fargo & Company dropped their price target on shares of Dollar General from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Morgan Stanley cut Dollar General from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $170.00 to $100.00 in a research report on Friday, August 30th. Citigroup downgraded Dollar General from a “neutral” rating to a “sell” rating and decreased their price target for the company from $91.00 to $73.00 in a research note on Friday, September 27th. Truist Financial cut their price objective on Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Gordon Haskett lowered shares of Dollar General from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.11.

Insiders Place Their Bets

In other Dollar General news, EVP Steven R. Deckard sold 2,010 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $86.66, for a total transaction of $174,186.60. Following the transaction, the executive vice president now owns 2,887 shares of the company’s stock, valued at $250,187.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Warren F. Bryant purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average price of $80.40 per share, with a total value of $40,200.00. Following the completion of the transaction, the director now owns 41,030 shares of the company’s stock, valued at approximately $3,298,812. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven R. Deckard sold 2,010 shares of Dollar General stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $86.66, for a total transaction of $174,186.60. Following the completion of the transaction, the executive vice president now owns 2,887 shares in the company, valued at approximately $250,187.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Dollar General 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.