Exchange Traded Concepts LLC Boosts Stock Position in Dollar General Corporation $DG

Key Points

• Exchange Traded Concepts LLC increased its stake in Dollar General by 73.6% in Q2, owning a total of 28,285 shares worth approximately $3.2 million.
• Several institutional investors significantly boosted their holdings in Dollar General, with Pacer Advisors increasing theirs by 5,440.2% in Q1.
• Dollar General recently reported earnings of $1.86 per share, beating estimates, and announced a quarterly dividend of $0.59 to be paid on October 21st.

Exchange Traded Concepts LLC lifted its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 73.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,285 shares of the company's stock after purchasing an additional 11,993 shares during the quarter. Exchange Traded Concepts LLC's holdings in Dollar General were worth $3,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DG. Pacer Advisors Inc. grew its holdings in shares of Dollar General by 5,440.2% in the first quarter. Pacer Advisors Inc. now owns 1,582,569 shares of the company's stock valued at $139,155,000 after purchasing an additional 1,554,004 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Dollar General by 251.6% in the first quarter. Royal Bank of Canada now owns 2,035,524 shares of the company's stock valued at $178,983,000 after acquiring an additional 1,456,549 shares during the period. Vanguard Group Inc. raised its stake in shares of Dollar General by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,433,202 shares of the company's stock valued at $2,324,271,000 after acquiring an additional 1,201,917 shares during the period. Pzena Investment Management LLC raised its stake in shares of Dollar General by 8.5% in the first quarter. Pzena Investment Management LLC now owns 12,770,542 shares of the company's stock valued at $1,122,914,000 after acquiring an additional 1,003,206 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Dollar General by 10,718.3% in the first quarter. GAMMA Investing LLC now owns 533,559 shares of the company's stock valued at $46,916,000 after acquiring an additional 528,627 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DG has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Dollar General from $115.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Guggenheim reissued a "buy" rating and issued a $125.00 target price on shares of Dollar General in a research note on Friday, August 29th. Cfra Research raised shares of Dollar General to a "hold" rating in a research note on Tuesday, June 3rd. Gordon Haskett raised shares of Dollar General from a "reduce" rating to an "accumulate" rating in a research note on Tuesday, June 3rd. Finally, Loop Capital boosted their target price on shares of Dollar General from $110.00 to $120.00 and gave the company a "hold" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $114.52.

Dollar General Stock Performance

DG opened at $102.09 on Friday. Dollar General Corporation has a 52-week low of $66.43 and a 52-week high of $117.95. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The company has a market cap of $22.47 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.15 and a beta of 0.29. The firm's 50-day moving average price is $109.84 and its 200-day moving average price is $101.59.

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. Dollar General had a net margin of 2.86% and a return on equity of 17.97%. The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the company posted $1.70 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. As a group, equities analysts anticipate that Dollar General Corporation will post 5.75 EPS for the current fiscal year.

Dollar General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th will be given a $0.59 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $2.36 dividend on an annualized basis and a yield of 2.3%. Dollar General's dividend payout ratio is currently 43.70%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.