Invesco Ltd. Purchases 89,067 Shares of Dollar General Corporation (NYSE:DG)

Key Points

• Invesco Ltd. increased its stake in Dollar General Corporation by 2.6%, acquiring an additional 89,067 shares, bringing its total ownership to approximately 1.58%, valued at $305,079,000.
• Analyst ratings for Dollar General are mostly positive, with significant price target boosts; Bank of America raised its price objective to $135.00, while Guggenheim increased theirs to $105.00.
• Dollar General reported a quarterly earnings per share (EPS) of $1.78, surpassing analysts' expectations of $1.46, with a revenue of $10.44 billion for the quarter.

Invesco Ltd. raised its position in shares of Dollar General Corporation (NYSE:DG - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,469,568 shares of the company's stock after acquiring an additional 89,067 shares during the period. Invesco Ltd. owned approximately 1.58% of Dollar General worth $305,079,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DG. Altshuler Shaham Ltd bought a new stake in shares of Dollar General during the fourth quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of Dollar General during the fourth quarter worth approximately $31,000. Mountain Hill Investment Partners Corp. boosted its holdings in shares of Dollar General by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock worth $44,000 after acquiring an additional 200 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Dollar General by 170.1% during the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock worth $48,000 after acquiring an additional 342 shares during the period. Finally, CVA Family Office LLC boosted its stake in shares of 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 buying an additional 161 shares during the period. Institutional investors own 91.77% of the company's stock.

Analyst Ratings Changes

DG has been the subject of several recent research reports. Guggenheim boosted their price target on Dollar General from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. UBS Group boosted their price target on Dollar General from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Jefferies Financial Group restated a "buy" rating on shares of Dollar General in a research report on Tuesday, June 3rd. Bank of America boosted their price objective on shares of Dollar General from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial boosted their price objective on shares of Dollar General from $100.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Sixteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $108.52.

Dollar General Stock Performance

NYSE DG opened at $115.26 on Wednesday. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.80 and a beta of 0.31. Dollar General Corporation has a twelve month low of $66.43 and a twelve month high of $126.98. The stock has a fifty day simple moving average of $112.00 and a 200 day simple moving average of $94.67. 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 (NYSE:DG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.32. The business had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.25 billion. Dollar General had a net margin of 2.81% and a return on equity of 17.93%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Sell-side analysts expect that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.0%. Dollar General's dividend payout ratio is 45.04%.

Insiders Place Their Bets

In other Dollar General news, EVP Kathleen A. Reardon sold 6,438 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $111.56, for a total transaction of $718,223.28. Following the sale, the executive vice president owned 41,646 shares of the company's stock, valued at approximately $4,646,027.76. This represents a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Emily C. Taylor sold 1,969 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $113.00, for a total transaction of $222,497.00. Following the sale, the executive vice president directly owned 46,563 shares in the company, valued at $5,261,619. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

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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