Corebridge Financial Inc. Sells 12,109 Shares of Dollar General Corporation $DG

Key Points

• Corebridge Financial Inc. reduced its stake in Dollar General Corporation by 18.1%, selling 12,109 shares to hold 54,647 shares valued at approximately $4.8 million.
• Dollar General recently posted earnings of $1.86 EPS for the last quarter, exceeding analyst expectations of $1.56 EPS, with a revenue of $10.73 billion.
• The company announced a quarterly dividend of $0.59, with an annualized yield of 2.2%, to be paid on October 21, 2023.

Corebridge Financial Inc. lessened its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 18.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,647 shares of the company's stock after selling 12,109 shares during the period. Corebridge Financial Inc.'s holdings in Dollar General were worth $4,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Dollar General in the fourth quarter valued at about $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 valued at $44,000 after acquiring an additional 200 shares during the last quarter. 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 valued at $48,000 after acquiring an additional 342 shares during the last quarter. 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 valued at $50,000 after acquiring an additional 161 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Dollar General by 384.3% in the first quarter. Larson Financial Group LLC now owns 615 shares of the company's stock valued at $54,000 after acquiring an additional 488 shares during the last quarter. Institutional investors own 91.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Loop Capital lifted their target price on Dollar General from $110.00 to $120.00 and gave the company a "hold" rating in a research report on Thursday, July 10th. Wells Fargo & Company lifted their price target on Dollar General from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Friday. Citigroup lifted their price target on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Cfra Research raised Dollar General to a "hold" rating in a research note on Tuesday, June 3rd. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $120.00 price target on shares of Dollar General in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $112.79.

Dollar General Price Performance

Dollar General stock opened at $108.75 on Friday. The stock's 50 day moving average is $112.02 and its 200 day moving average is $98.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 0.20. The firm has a market cap of $23.93 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.59 and a beta of 0.31. Dollar General Corporation has a one year low of $66.43 and a one year high of $117.95.

Dollar General (NYSE:DG - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.30. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.68 billion. Dollar General had a return on equity of 17.97% and a net margin of 2.86%.The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 earnings per share. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. As a group, research analysts expect that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 7th. Dollar General's payout ratio is currently 45.04%.

Insider Buying and Selling

In related news, EVP Emily C. Taylor sold 1,969 shares of Dollar General 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 transaction, the executive vice president directly owned 46,563 shares of the company's stock, valued at $5,261,619. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the executive vice president directly owned 41,646 shares in the company, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is 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.

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