Brandywine Global Investment Management LLC Acquires 35,644 Shares of Dollar General Corporation $DG

Key Points

• Brandywine Global Investment Management LLC increased its stake in Dollar General Corporation by 2.6%, owning 1,389,892 shares valued at approximately $122.2 million.
• Dollar General announced a quarterly dividend of $0.59 per share, translating to an annualized yield of 2.1% and a payout ratio of 45.04%.
• Analysts have set new price targets for Dollar General, with Bank of America raising its target from $115.00 to $135.00, reflecting a generally positive outlook.

Brandywine Global Investment Management LLC lifted its position in shares of Dollar General Corporation (NYSE:DG - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,389,892 shares of the company's stock after acquiring an additional 35,644 shares during the period. Dollar General makes up about 0.9% of Brandywine Global Investment Management LLC's portfolio, making the stock its 22nd largest holding. Brandywine Global Investment Management LLC owned approximately 0.63% of Dollar General worth $122,213,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. boosted its position in shares of Dollar General by 9.8% during the 4th quarter. Federated Hermes Inc. now owns 2,159 shares of the company's stock worth $164,000 after purchasing an additional 192 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Dollar General by 6.7% during the 4th quarter. Townsquare Capital LLC now owns 13,013 shares of the company's stock valued at $987,000 after buying an additional 813 shares during the last quarter. Mariner LLC raised its position in shares of Dollar General by 140.0% in the fourth quarter. Mariner LLC now owns 136,717 shares of the company's stock valued at $10,366,000 after purchasing an additional 79,759 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Dollar General during the fourth quarter worth $259,000. Finally, Guggenheim Capital LLC lifted its holdings in shares of Dollar General by 10.1% in the fourth quarter. Guggenheim Capital LLC now owns 42,076 shares of the company's stock worth $3,190,000 after buying an additional 3,867 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Dollar General from $88.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Jefferies Financial Group reissued a "buy" rating on shares of Dollar General in a report on Tuesday, June 3rd. Sanford C. Bernstein set a $120.00 target price on Dollar General in a research note on Friday, May 23rd. KeyCorp reissued a "sector weight" rating on shares of Dollar General in a report on Wednesday, June 4th. Finally, Bank of America increased their price target on shares of Dollar General from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Sixteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $108.80.

Insider Activity

In other Dollar General 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 value 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Emily C. Taylor sold 1,969 shares of Dollar General stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $113.00, for a total value of $222,497.00. Following the transaction, the executive vice president owned 46,563 shares in the company, valued at approximately $5,261,619. This represents a 4.06% 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 company insiders.

Dollar General Stock Down 0.4%

Dollar General stock traded down $0.45 during trading on Monday, reaching $112.32. 1,968,353 shares of the company's stock were exchanged, compared to its average volume of 2,679,858. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23. Dollar General Corporation has a 52-week low of $66.43 and a 52-week high of $126.98. The company's 50-day moving average is $112.08 and its two-hundred day moving average is $95.70. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.76 and a beta of 0.31.

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

Dollar General Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, July 8th. Dollar General's dividend payout ratio (DPR) is presently 45.04%.

Dollar General Company 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.