AE Wealth Management LLC Invests $259,000 in Dollar General Corporation (NYSE:DG)

Key Points

• AE Wealth Management LLC has invested approximately $259,000 in Dollar General Corporation, acquiring 2,941 shares during the 1st quarter of the year.
• Several institutional investors have recently increased their stakes in Dollar General, with hedge funds collectively owning 91.77% of the company's stock.
• Dollar General reported a quarterly EPS of $1.78 for the most recent quarter, exceeding analysts' expectations of $1.46, alongside a revenue of $10.44 billion.

AE Wealth Management LLC acquired a new position in shares of Dollar General Corporation (NYSE:DG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,941 shares of the company's stock, valued at approximately $259,000.

Several other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Dollar General in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new position in Dollar General in the fourth quarter worth approximately $31,000. Mountain Hill Investment Partners Corp. grew its position in Dollar General by 66.7% in the first quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock worth $44,000 after acquiring an additional 200 shares during the period. Golden State Wealth Management LLC grew its position in Dollar General by 170.1% in the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock worth $48,000 after acquiring an additional 342 shares during the period. Finally, CVA Family Office LLC grew its position in Dollar General by 39.4% in the first quarter. CVA Family Office LLC now owns 570 shares of the company's stock worth $50,000 after acquiring an additional 161 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DG has been the subject of several analyst reports. Evercore ISI increased their price objective on Dollar General from $105.00 to $117.00 and gave the stock an "in-line" rating in a research report on Thursday, June 5th. Piper Sandler increased their price objective on Dollar General from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Telsey Advisory Group reiterated a "market perform" rating and issued a $120.00 price objective on shares of Dollar General in a research report on Thursday, July 17th. The Goldman Sachs Group cut Dollar General from a "buy" rating to a "neutral" rating and upped their price target for the stock from $115.00 to $116.00 in a research note on Tuesday, June 24th. Finally, Guggenheim upped their price target on Dollar General from $100.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Sixteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $108.40.

Dollar General Stock Performance

Shares of NYSE DG traded up $0.40 during midday trading on Tuesday, reaching $111.34. 1,151,408 shares of the company were exchanged, compared to its average volume of 3,825,114. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74. Dollar General Corporation has a 1 year low of $66.43 and a 1 year high of $126.98. The stock has a fifty day simple moving average of $110.34 and a 200 day simple moving average of $93.01. The stock has a market cap of $24.50 billion, a P/E ratio of 21.25, a PEG ratio of 2.66 and a beta of 0.31.

Dollar General (NYSE:DG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.32. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. The firm had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same quarter last year, the company posted $1.65 earnings per share. The business's revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 8th. Dollar General's payout ratio is currently 45.04%.

Insider Buying and Selling

In other Dollar General news, EVP Kathleen A. Reardon sold 6,438 shares of Dollar General stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $111.56, for a total value 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. The trade was a 13.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of Dollar General 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 in the company, valued at $5,261,619. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Dollar General 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.