Lord Abbett & CO. LLC Acquires New Shares in Dollar General Corporation $DG

Key Points

• Lord Abbett & CO. LLC has acquired a new stake in Dollar General, purchasing 283,000 shares valued at approximately $24.88 million, representing 0.13% of the company's stock.
• Several other institutional investors have increased their positions in Dollar General, with 91.77% of the stock now owned by such investors.
• Analysts have raised price targets for Dollar General, with Oppenheimer setting a new target of $130.00, reflecting a positive outlook on the stock.

Lord Abbett & CO. LLC acquired a new stake in shares of Dollar General Corporation (NYSE:DG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 283,000 shares of the company's stock, valued at approximately $24,884,000. Lord Abbett & CO. LLC owned 0.13% of Dollar General as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Dollar General during the fourth quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in Dollar General during the fourth quarter valued at $31,000. Mountain Hill Investment Partners Corp. boosted its stake in Dollar General by 66.7% during the first quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock valued at $44,000 after buying an additional 200 shares during the period. Golden State Wealth Management LLC raised its position in Dollar General by 170.1% during the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock valued at $48,000 after purchasing an additional 342 shares in the last quarter. Finally, CVA Family Office LLC raised its position in Dollar General by 39.4% during the first quarter. CVA Family Office LLC now owns 570 shares of the company's stock valued at $50,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DG shares. Piper Sandler raised their price target on Dollar General from $112.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Loop Capital raised their price target on Dollar General from $110.00 to $120.00 and gave the company a "hold" rating in a research report on Thursday, July 10th. Guggenheim raised their price target on Dollar General from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Citigroup raised their price target on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, UBS Group raised their price target on Dollar General from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $108.80.

Insider Buying and Selling

In other Dollar General news, EVP Kathleen A. Reardon sold 6,438 shares of the company's 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. This represents a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of the company's 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 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. 0.56% of the stock is currently owned by corporate insiders.

Dollar General Trading Up 2.2%

Shares of NYSE DG traded up $2.4630 during trading hours on Wednesday, hitting $115.2430. The company's stock had a trading volume of 1,200,686 shares, compared to its average volume of 3,749,125. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.75 and a beta of 0.31. Dollar General Corporation has a 12 month low of $66.43 and a 12 month high of $126.98. The business has a 50-day simple moving average of $112.09 and a 200-day simple moving average of $96.10.

Dollar General (NYSE:DG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.32. Dollar General had a return on equity of 17.93% and a net margin of 2.81%.The firm had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.25 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. Dollar General has set its FY 2025 guidance at 5.200-5.800 EPS. On average, analysts anticipate that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The company also recently announced 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. The ex-dividend date was Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.0%. Dollar General's dividend payout ratio is 45.04%.

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.