Dollar General Corporation (NYSE:DG) Shares Purchased by Waycross Partners LLC

Key Points

• Waycross Partners LLC increased its stake in Dollar General by 21.6% during the first quarter, owning approximately 202,895 shares valued at around $17.8 million.
• Analysts have raised their price targets for Dollar General, with Wells Fargo boosting their estimate to $105 and Evercore ISI to $117, indicating a positive outlook for the stock.
• Dollar General reported a quarterly earnings per share of $1.78, exceeding estimates by 32 cents, with a revenue of $10.44 billion for the quarter.

Waycross Partners LLC raised its position in Dollar General Corporation (NYSE:DG - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,895 shares of the company's stock after buying an additional 36,021 shares during the period. Dollar General makes up about 2.0% of Waycross Partners LLC's holdings, making the stock its 23rd biggest holding. Waycross Partners LLC owned approximately 0.09% of Dollar General worth $17,841,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Dollar General by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 32,507 shares of the company's stock valued at $2,465,000 after purchasing an additional 1,410 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Dollar General in the fourth quarter valued at $606,000. Resona Asset Management Co. Ltd. bought a new position in Dollar General during the 4th quarter valued at $4,827,000. Envestnet Asset Management Inc. grew its holdings in Dollar General by 157.2% during 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. Finally, Federated Hermes Inc. grew its holdings in 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 acquiring an additional 192 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DG shares. Wells Fargo & Company boosted their price objective on Dollar General from $80.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on Dollar General from $88.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Evercore ISI raised their price objective on Dollar General from $105.00 to $117.00 and gave the stock an "in-line" rating in a research note on Thursday, June 5th. Guggenheim lifted their price objective on shares of Dollar General from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Cfra Research raised shares of Dollar General to a "hold" rating in a report on Tuesday, June 3rd. Sixteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $108.40.

Dollar General Stock Up 2.2%

DG stock opened at $113.25 on Thursday. Dollar General Corporation has a 52 week low of $66.43 and a 52 week high of $126.98. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.71 and a beta of 0.31. The firm's 50-day moving average is $110.85 and its two-hundred day moving average is $93.27. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74.

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

Dollar General Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, July 8th. Dollar General's payout ratio is presently 45.04%.

Insider Activity

In related news, EVP Emily C. Taylor sold 1,969 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were 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 owned 46,563 shares of the company's stock, valued at approximately $5,261,619. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $718,223.28. Following the transaction, the executive vice president owned 41,646 shares in the company, valued at approximately $4,646,027.76. The trade was 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 currently owned by insiders.

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.

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