Bayforest Capital Ltd Has $488,000 Stake in Dollar General Corporation (NYSE:DG)

Key Points

• Bayforest Capital Ltd increased its holdings in Dollar General by 389.9%, acquiring 4,418 shares during the first quarter, bringing their total ownership to 5,551 shares valued at approximately $488,000.
• Dollar General announced a quarterly dividend of $0.59, representing an annualized dividend of $2.36 and a dividend yield of 2.24%, with a payout ratio of 45.04%.
• The company's recent quarterly earnings report showed an EPS of $1.78, exceeding analyst expectations, with revenue reaching $10.44 billion, up 5.3% from the previous year.

Bayforest Capital Ltd grew its position in Dollar General Corporation (NYSE:DG - Free Report) by 389.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,551 shares of the company's stock after purchasing an additional 4,418 shares during the period. Bayforest Capital Ltd's holdings in Dollar General were worth $488,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new stake in shares of Dollar General during the first quarter worth $280,000. Robeco Institutional Asset Management B.V. increased its position in shares of Dollar General by 4.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 27,567 shares of the company's stock worth $2,424,000 after acquiring an additional 1,102 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Dollar General by 74.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,142 shares of the company's stock worth $921,000 after acquiring an additional 5,171 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Dollar General by 18.1% during the fourth quarter. Ameriprise Financial Inc. now owns 107,306 shares of the company's stock worth $8,137,000 after acquiring an additional 16,453 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Dollar General by 48.9% during the first quarter. Farther Finance Advisors LLC now owns 3,292 shares of the company's stock worth $288,000 after acquiring an additional 1,081 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dollar General

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $111.56, for a total transaction of $718,223.28. Following the completion of the sale, the executive vice president owned 41,646 shares in the company, valued at approximately $4,646,027.76. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Emily C. Taylor sold 1,969 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $113.00, for a total transaction of $222,497.00. Following the sale, the executive vice president owned 46,563 shares of the company's stock, valued at approximately $5,261,619. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Dollar General Stock Performance

Shares of DG traded up $3.64 during midday trading on Friday, reaching $108.54. The stock had a trading volume of 4,216,646 shares, compared to its average volume of 2,494,283. The firm has a 50 day simple moving average of $110.15 and a 200-day simple moving average of $92.39. Dollar General Corporation has a one year low of $66.43 and a one year high of $126.98. The firm has a market cap of $23.89 billion, a PE ratio of 20.71, a P/E/G ratio of 2.57 and a beta of 0.31. 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 (NYSE:DG - Get Free Report) last posted its 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. The company had revenue of $10.44 billion during the quarter, compared to analysts' expectations of $10.25 billion. Dollar General had a net margin of 2.81% and a return on equity of 17.93%. Dollar General's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 EPS. As a group, sell-side analysts anticipate that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, July 8th. Dollar General's dividend payout ratio (DPR) is currently 45.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DG. Telsey Advisory Group reissued a "market perform" rating and set a $120.00 price objective on shares of Dollar General in a research report on Thursday, July 17th. Evercore ISI raised their target price on shares of Dollar General from $105.00 to $117.00 and gave the company an "in-line" rating in a research report on Thursday, June 5th. Wells Fargo & Company raised their target price on shares of Dollar General from $80.00 to $105.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. Melius raised shares of Dollar General from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research report on Tuesday, April 8th. Finally, Guggenheim raised their target price on shares of Dollar General from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Sixteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Dollar General presently has a consensus rating of "Hold" and an average target price of $108.40.

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.