Dollar General Corporation $DG Shares Sold by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC significantly reduced its stake in Dollar General by 98.5%, now holding only 5,015 shares after selling over 321,000 shares during the second quarter.
• Dollar General's stock has seen price target adjustments from various analysts, with UBS Group raising its target to $135.00 and others projecting an average target of $115.40.
• The company recently reported earnings of $1.86 per share, exceeding consensus estimates, and announced a quarterly dividend of $0.59 per share set to be paid on October 21st.

DAVENPORT & Co LLC cut its position in Dollar General Corporation (NYSE:DG - Free Report) by 98.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,015 shares of the company's stock after selling 321,033 shares during the period. DAVENPORT & Co LLC's holdings in Dollar General were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new stake in shares of Dollar General in the first quarter worth approximately $280,000. Robeco Institutional Asset Management B.V. boosted its stake in 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 buying an additional 1,102 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in 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 buying an additional 1,081 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Dollar General during the first quarter worth $879,000. Finally, Ballentine Partners LLC acquired a new position in Dollar General during the first quarter worth $411,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Dollar General from $128.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Evercore ISI lowered their price objective on Dollar General from $114.00 to $112.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley boosted their price objective on Dollar General from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. Telsey Advisory Group set a $123.00 price objective on Dollar General in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Dollar General from $95.00 to $109.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $115.40.

Dollar General Price Performance

DG stock opened at $99.38 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $21.88 billion, a PE ratio of 18.40, a P/E/G ratio of 2.09 and a beta of 0.30. Dollar General Corporation has a 12-month low of $66.43 and a 12-month high of $117.95. The business's fifty day moving average price is $107.44 and its 200 day moving average price is $103.68.

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

Dollar General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 7th. Dollar General's payout ratio is presently 43.70%.

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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