Dollar General (NYSE:DG) Given New $115.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for Dollar General from $105.00 to $115.00, indicating a potential upside of 5.24% based on the stock's current price.
• Dollar General's quarterly earnings exceeded expectations with an EPS of $1.86, surpassing the consensus estimate by $0.30.
• The stock has received various upgrades from analysts, with a current average rating of "Hold" and a price target averaging $110.40.

Dollar General (NYSE:DG - Free Report) had its price target increased by Wells Fargo & Company from $105.00 to $115.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Dollar General from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Dollar General in a research note on Wednesday, June 4th. Truist Financial lifted their price target on shares of Dollar General from $119.00 to $120.00 and gave the stock a "hold" rating in a research report on Friday. Citigroup increased their price objective on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Dollar General in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $112.79.

Dollar General Price Performance

DG traded up $1.66 during trading on Friday, reaching $110.42. The stock had a trading volume of 2,637,800 shares, compared to its average volume of 3,750,620. The stock has a 50 day moving average of $111.89 and a two-hundred day moving average of $98.70. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $24.31 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.29. Dollar General has a 1-year low of $66.43 and a 1-year high of $117.95.

Dollar General (NYSE:DG - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.30. The company had revenue of $10.73 billion for the quarter, compared to analysts' expectations of $10.68 billion. Dollar General had a return on equity of 17.97% and a net margin of 2.86%.The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.70 EPS. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. As a group, equities analysts anticipate that Dollar General will post 5.75 EPS for the current fiscal year.

Dollar General Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 7th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, October 7th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.1%. Dollar General's payout ratio is currently 43.70%.

Insider Activity

In other news, EVP Emily C. Taylor sold 1,969 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total value of $222,497.00. Following the completion of the sale, the executive vice president directly owned 46,563 shares of the company's stock, valued at $5,261,619. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathleen A. Reardon sold 6,438 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $111.56, for a total transaction of $718,223.28. Following the sale, the executive vice president owned 41,646 shares of the company's stock, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dollar General

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DG. Elevation Point Wealth Partners LLC acquired a new position in shares of Dollar General in the second quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new position in Dollar General in the 2nd quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in shares of Dollar General during the 4th quarter worth about $31,000. Mountain Hill Investment Partners Corp. lifted its holdings in shares of Dollar General by 66.7% during the 1st quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock valued at $44,000 after buying an additional 200 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of Dollar General by 170.1% in the 1st quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock valued at $48,000 after buying an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 91.77% 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.