HSBC Cuts Dollar General (NYSE:DG) Price Target to $88.00

Dollar General (NYSE:DG) had its price target decreased by HSBC from $100.00 to $88.00 in a research note issued to investors on Friday. HSBC currently has a hold rating on the stock.

A number of other analysts have also issued reports on the stock. Oppenheimer reissued a “market perform” rating on shares of Dollar General in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on shares of Dollar General from $97.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Melius Research started coverage on shares of Dollar General in a report on Monday, September 23rd. They issued a “hold” rating and a $85.00 price target on the stock. Wells Fargo & Company decreased their price objective on Dollar General from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Finally, Raymond James dropped their target price on Dollar General from $150.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.45.

Dollar General Price Performance

DG opened at $75.88 on Friday. The firm has a market cap of $16.69 billion, a PE ratio of 11.78, a P/E/G ratio of 2.22 and a beta of 0.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24. Dollar General has a 1 year low of $73.51 and a 1 year high of $168.07. The stock has a 50-day moving average price of $81.85 and a 200-day moving average price of $109.99.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, August 29th. The company reported $1.70 earnings per share 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 the consensus estimate of $10.37 billion. During the same quarter last year, the company earned $2.13 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts predict that Dollar General will post 5.86 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, October 8th. Dollar General’s dividend payout ratio (DPR) is presently 36.65%.

Insider Buying and Selling at Dollar General

In other Dollar General news, EVP Roderick J. West sold 2,510 shares of Dollar General stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.25, for a total value of $208,957.50. Following the transaction, the executive vice president now owns 9,163 shares in the company, valued at $762,819.75. This trade represents a 21.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven R. Deckard sold 2,010 shares of the firm’s stock in a transaction that occurred 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 $250,187.42. The trade was a 41.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Dollar General

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of Dollar General during the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Dollar General in the second quarter worth $33,000. Studio Investment Management LLC lifted its stake in Dollar General by 117.7% in the second 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 bought a new position in shares of Dollar General during the second quarter worth about $37,000. Finally, TruNorth Capital Management LLC bought a new position in Dollar General in the 2nd quarter worth about $39,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

About Dollar General

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.