Dollar General (NYSE:DG) Trading Up 5.7% Following Dividend Announcement

Dollar General Co. (NYSE:DG) was up 5.7% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $84.26 and last traded at $84.11. Approximately 1,492,081 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 3,261,711 shares. The stock had previously closed at $79.60.

The newly announced dividend which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, January 7th. Dollar General’s payout ratio is currently 36.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DG shares. Jefferies Financial Group cut their price objective on shares of Dollar General from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Gordon Haskett upgraded shares of Dollar General from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Loop Capital dropped their price target on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Evercore ISI dropped their price target on shares of Dollar General from $97.00 to $95.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Dollar General in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Dollar General presently has an average rating of “Hold” and an average target price of $98.27.

Dollar General Stock Up 2.5 %

The business’s fifty day moving average is $79.63 and its two-hundred day moving average is $104.26. The company has a quick ratio of 0.24, a current ratio of 1.22 and a debt-to-equity ratio of 0.86. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 2.31 and a beta of 0.44.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, December 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The firm had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Dollar General Co. will post 5.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Steven R. Deckard sold 2,010 shares of the business’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 sale, the executive vice president now owns 2,887 shares in the company, valued at approximately $250,187.42. The trade was a 41.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Warren F. Bryant acquired 1,000 shares of Dollar General stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $80.83 per share, with a total value of $80,830.00. Following the transaction, the director now directly owns 42,030 shares in the company, valued at approximately $3,397,284.90. The trade was a 2.44 % increase in their position. The disclosure for this purchase can be found here. 0.49% of the stock is owned by insiders.

Institutional Trading of Dollar General

Several institutional investors have recently modified their holdings of DG. Wilmington Savings Fund Society FSB purchased a new stake in shares of Dollar General during the 3rd quarter worth approximately $33,000. Studio Investment Management LLC raised 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 purchasing an additional 153 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Dollar General in the 2nd quarter valued at $37,000. TruNorth Capital Management LLC purchased a new stake in Dollar General in the 2nd quarter valued at $39,000. Finally, Quarry LP purchased a new stake in Dollar General in the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

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.