Zacks Investment Research upgraded shares of Dollar General Corporation (NYSE:DG) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $94.00 target price on the stock.
According to Zacks, “Dollar General’s commitment toward better price management, merchandise initiatives and cost containment has helped the stock to outperform the industry in the past six months. Strategic endeavors have helped it to deliver better-than-expected numbers for the third straight quarter, as it posted second-quarter fiscal 2017 results. Upbeat performance and buyout of Acquired Stores prompted management to raise earnings outlook. The company anticipates earnings in the band of $4.35-$4.50 per share, up from the earlier estimate of $4.25-$4.50. Despite robust performance, investors’ remained concerned over cut in SNAP benefit. Trump’s suggestion of reducing food stamps program by $193 billion, which is nearly 25% of the budget for the program, will have a detrimental effect. Cut in SNAP benefit will hamper performance as people with low income will have less money to spend and could restrict spending to low margin products.”
Several other equities analysts have also issued reports on DG. Jefferies Group LLC reiterated a hold rating and issued a $68.00 price target on shares of Dollar General Corporation in a research note on Wednesday, July 19th. BidaskClub upgraded Dollar General Corporation from a strong sell rating to a sell rating in a research note on Monday, July 24th. Buckingham Research reiterated a neutral rating and issued a $75.00 price target on shares of Dollar General Corporation in a research note on Monday, August 7th. BMO Capital Markets set a $85.00 price target on Dollar General Corporation and gave the company a hold rating in a research note on Tuesday, August 22nd. Finally, Loop Capital reiterated a hold rating and issued a $76.00 price target on shares of Dollar General Corporation in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. Dollar General Corporation has a consensus rating of Hold and an average target price of $80.98.
Dollar General Corporation (NYSE DG) traded up $0.59 during trading on Tuesday, reaching $85.50. The company’s stock had a trading volume of 2,433,426 shares, compared to its average volume of 2,840,348. Dollar General Corporation has a 12-month low of $65.97 and a 12-month high of $85.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.18 and a current ratio of 1.42. The company has a market cap of $23,360.00, a price-to-earnings ratio of 18.46, a PEG ratio of 1.64 and a beta of 0.93.
Dollar General Corporation (NYSE:DG) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.01. Dollar General Corporation had a return on equity of 22.67% and a net margin of 5.38%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the company posted $1.08 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts expect that Dollar General Corporation will post 4.5 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, October 6th. Dollar General Corporation’s dividend payout ratio (DPR) is currently 23.53%.
In other Dollar General Corporation news, EVP Robert D. Ravener sold 11,257 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $77.00, for a total transaction of $866,789.00. Following the completion of the sale, the executive vice president now directly owns 22,598 shares of the company’s stock, valued at approximately $1,740,046. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Veritable L.P. grew its holdings in shares of Dollar General Corporation by 0.7% in the second quarter. Veritable L.P. now owns 4,803 shares of the company’s stock valued at $346,000 after acquiring an additional 35 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Dollar General Corporation by 2.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,034 shares of the company’s stock valued at $146,000 after acquiring an additional 48 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of Dollar General Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 15,636 shares of the company’s stock valued at $1,127,000 after acquiring an additional 53 shares in the last quarter. Alpha Windward LLC grew its holdings in shares of Dollar General Corporation by 3.0% in the second quarter. Alpha Windward LLC now owns 1,900 shares of the company’s stock valued at $137,000 after acquiring an additional 56 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Dollar General Corporation by 4.0% in the second quarter. Huntington National Bank now owns 1,965 shares of the company’s stock valued at $142,000 after acquiring an additional 75 shares in the last quarter. 89.31% of the stock is owned by hedge funds and other institutional investors.
About Dollar General Corporation
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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