Channing Capital Management LLC Sells 11,980 Shares of Dollar General Corporation $DG

Key Points

• Channing Capital Management LLC reduced its stake in Dollar General by 11.1%, selling 11,980 shares and holding 96,032 shares valued at approximately $8.44 million as of the latest SEC filing.
• Several investment firms have recently raised their price targets for Dollar General, with Guggenheim setting a new target of $105.00 and Dimmer Advisory Group providing a target of $120.00, indicating widespread optimism among analysts.
• Dollar General announced a quarterly dividend of $0.59, reflecting an annual yield of 2.1%, with a current dividend payout ratio of 45.04%.

Channing Capital Management LLC reduced its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,032 shares of the company's stock after selling 11,980 shares during the quarter. Channing Capital Management LLC's holdings in Dollar General were worth $8,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Forum Financial Management LP acquired a new position in Dollar General during the 4th quarter worth $245,000. First Trust Advisors LP lifted its holdings in Dollar General by 687.3% during the 4th quarter. First Trust Advisors LP now owns 515,016 shares of the company's stock worth $39,049,000 after buying an additional 449,604 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Dollar General by 4.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,322 shares of the company's stock worth $479,000 after buying an additional 263 shares in the last quarter. Ossiam lifted its holdings in Dollar General by 7.9% during the 4th quarter. Ossiam now owns 3,964 shares of the company's stock worth $301,000 after buying an additional 291 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Dollar General by 1.8% during the 4th quarter. MetLife Investment Management LLC now owns 58,200 shares of the company's stock worth $4,413,000 after buying an additional 1,029 shares in the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DG shares. Gordon Haskett raised Dollar General from a "reduce" rating to an "accumulate" rating in a report on Tuesday, June 3rd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $120.00 price objective on shares of Dollar General in a report on Thursday, August 21st. JPMorgan Chase & Co. upped their price objective on Dollar General from $88.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Barclays upped their target price on shares of Dollar General from $100.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group cut shares of Dollar General from a "buy" rating to a "neutral" rating and upped their target price for the company from $115.00 to $116.00 in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and sixteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Dollar General currently has an average rating of "Hold" and a consensus target price of $108.80.

Dollar General Trading Down 1.4%

Shares of DG traded down $1.56 during trading hours on Tuesday, reaching $110.79. The stock had a trading volume of 970,975 shares, compared to its average volume of 3,719,269. The company has a quick ratio of 0.20, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. Dollar General Corporation has a 52 week low of $66.43 and a 52 week high of $125.42. The firm has a 50-day moving average of $112.16 and a 200 day moving average of $97.41. The company has a market cap of $24.38 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.75 and a beta of 0.31.

Dollar General (NYSE:DG - Get Free Report) last released 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 firm had revenue of $10.44 billion during the quarter, compared to analysts' expectations of $10.25 billion. Dollar General had a return on equity of 17.93% and a net margin of 2.81%.The company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. Dollar General has set its FY 2025 guidance at 5.200-5.800 EPS. On average, sell-side analysts expect that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

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

Insider Transactions at Dollar General

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

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.