New Wave Wealth Advisors LLC Invests $381,000 in Dollar General Co. (NYSE:DG)

New Wave Wealth Advisors LLC bought a new stake in Dollar General Co. (NYSE:DG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,878 shares of the company’s stock, valued at approximately $381,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its position in shares of Dollar General by 30.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 376 shares of the company’s stock worth $50,000 after acquiring an additional 88 shares in the last quarter. Quarry LP purchased a new stake in shares of Dollar General during the 2nd quarter worth approximately $46,000. Wallace Advisory Group LLC acquired a new position in shares of Dollar General in the 2nd quarter valued at $368,000. Nemes Rush Group LLC grew its position in shares of Dollar General by 20.1% in the 2nd quarter. Nemes Rush Group LLC now owns 15,597 shares of the company’s stock valued at $2,062,000 after buying an additional 2,610 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Dollar General by 3.8% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 52,937 shares of the company’s stock worth $7,000,000 after acquiring an additional 1,947 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

DG has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Bank of America cut their price target 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. UBS Group decreased their price objective on Dollar General from $155.00 to $108.00 and set a “buy” rating for the company in a report on Friday, August 30th. Melius Research assumed coverage on shares of Dollar General in a report on Monday, September 23rd. They issued a “hold” rating and a $85.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Dollar General from $145.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Dollar General presently has a consensus rating of “Hold” and a consensus price target of $109.48.

Insider Activity

In related news, EVP Roderick J. West sold 2,510 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 9,163 shares in the company, valued at $762,819.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 value of $174,186.60. Following the transaction, the executive vice president now directly owns 2,887 shares of the company’s stock, valued at approximately $250,187.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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. Company insiders own 0.49% of the company’s stock.

Dollar General Price Performance

Dollar General stock opened at $84.57 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.24 and a current ratio of 1.22. The business has a fifty day moving average of $103.78 and a two-hundred day moving average of $126.65. Dollar General Co. has a one year low of $77.96 and a one year high of $168.07. The company has a market cap of $18.60 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 2.52 and a beta of 0.44.

Dollar General (NYSE:DG) last released its quarterly 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 company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.37 billion. Dollar General had a return on equity of 20.62% and a net margin of 3.57%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $2.13 earnings per share. As a group, analysts predict that Dollar General Co. will post 5.85 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th will be issued 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 dividend yield of 2.79%. Dollar General’s dividend payout ratio (DPR) is presently 34.35%.

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.