Renaissance Technologies LLC Takes $55.99 Million Position in Dollar General Co. (NYSE:DG)

Renaissance Technologies LLC bought a new stake in shares of Dollar General Co. (NYSE:DG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 423,400 shares of the company’s stock, valued at approximately $55,986,000.

Several other institutional investors have also bought and sold shares of DG. Burkett Financial Services LLC bought a new position in shares of Dollar General during the 4th quarter worth approximately $26,000. Bank & Trust Co bought a new stake in Dollar General during the second quarter worth $26,000. Fortis Group Advisors LLC boosted its position in Dollar General by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Dollar General in the 2nd quarter valued at $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Dollar General during the 4th quarter valued at $37,000. Institutional investors own 91.77% of the company’s stock.

Dollar General Stock Up 0.3 %

DG opened at $86.00 on Wednesday. The firm has a market capitalization of $18.91 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 2.36 and a beta of 0.44. Dollar General Co. has a one year low of $77.96 and a one year high of $168.07. The company has a fifty day moving average price of $111.06 and a 200-day moving average price of $131.10. 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 (NYSE:DG) last announced its earnings results 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). The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.37 billion. Dollar General had a return on equity of 20.62% and a net margin of 3.57%. Dollar General’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 earnings per share. Equities research analysts expect that Dollar General Co. will post 5.85 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $2.36 annualized dividend and a yield of 2.74%. Dollar General’s payout ratio is presently 34.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DG. JPMorgan Chase & Co. decreased their price objective on shares of Dollar General from $130.00 to $97.00 and set a “neutral” rating for the company in a report on Friday, August 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Dollar General in a report on Monday, August 26th. Truist Financial dropped their price objective on Dollar General from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Loop Capital decreased their target price on Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, Daiwa America cut Dollar General from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Dollar General has an average rating of “Hold” and a consensus target price of $113.95.

Insiders Place Their Bets

In other 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 transaction of $208,957.50. Following the completion of the sale, the executive vice president now directly owns 9,163 shares of the company’s stock, valued at approximately $762,819.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dollar General news, Director Warren F. Bryant purchased 1,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $80.83 per share, with a total value of $80,830.00. Following the completion of the purchase, the director now directly owns 42,030 shares of the company’s stock, valued at approximately $3,397,284.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roderick J. West sold 2,510 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.25, for a total value of $208,957.50. Following the completion of the sale, the executive vice president now directly owns 9,163 shares of the company’s stock, valued at approximately $762,819.75. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

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.