Bristlecone Advisors LLC Boosts Stock Position in Dollar General Corporation (NYSE:DG)

Key Points

• Bristlecone Advisors LLC increased its stake in Dollar General Corporation by 28.4% during the first quarter, now holding 24,862 shares worth approximately $2.19 million.
• Dollar General recently reported a quarterly earnings per share of $1.78, exceeding estimates by $0.32, along with revenue of $10.44 billion for the quarter.
• The company announced a quarterly dividend of $0.59 per share, reflecting an annualized dividend of $2.36 and a yield of 2.0%.

Bristlecone Advisors LLC lifted its position in Dollar General Corporation (NYSE:DG - Free Report) by 28.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,862 shares of the company's stock after purchasing an additional 5,497 shares during the quarter. Bristlecone Advisors LLC's holdings in Dollar General were worth $2,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DG. Wellington Management Group LLP lifted its holdings in Dollar General by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 32,507 shares of the company's stock worth $2,465,000 after buying an additional 1,410 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Dollar General in the 4th quarter worth approximately $606,000. Envestnet Asset Management Inc. raised its position in shares of Dollar General by 157.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 755,715 shares of the company's stock worth $57,298,000 after acquiring an additional 461,900 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Dollar General by 9.8% in the 4th quarter. Federated Hermes Inc. now owns 2,159 shares of the company's stock worth $164,000 after acquiring an additional 192 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Dollar General by 13.4% in the 4th quarter. Cerity Partners LLC now owns 35,403 shares of the company's stock worth $2,772,000 after acquiring an additional 4,192 shares in the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Kathleen A. Reardon sold 6,438 shares of the company'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 transaction, 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 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 stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $113.00, for a total value of $222,497.00. Following the completion of the transaction, the executive vice president directly owned 46,563 shares in the company, valued at approximately $5,261,619. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

Dollar General Price Performance

NYSE:DG opened at $115.58 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $25.44 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.77 and a beta of 0.31. Dollar General Corporation has a 12 month low of $66.43 and a 12 month high of $126.98. The business's 50-day moving average is $111.22 and its 200 day moving average is $93.60.

Dollar General (NYSE:DG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $10.25 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.0%. Dollar General's dividend payout ratio is currently 45.04%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial increased their target price on Dollar General from $93.00 to $112.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. Bank of America increased their target price on Dollar General from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Dollar General in a research report on Wednesday, June 4th. Guggenheim increased their target price on Dollar General from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $120.00 price objective on shares of Dollar General in a research report on Thursday, July 17th. Sixteen research 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 company's stock. According to MarketBeat.com, Dollar General presently has a consensus rating of "Hold" and an average price target of $108.40.

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.

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