Dollar General Corporation (NYSE:DG) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in Dollar General by 33.6% in the first quarter, acquiring an additional 15,032 shares, bringing its total to 59,796 shares valued at approximately $5.26 million.
• Dollar General reported $1.78 EPS for the quarter, surpassing analysts' expectations and showing a 5.3% year-over-year revenue growth with revenues reaching $10.44 billion.
• The company recently declared a $0.59 quarterly dividend, which has an annualized yield of 2.2%, and maintains a dividend payout ratio of 45.04%.

Mackenzie Financial Corp grew its holdings in shares of Dollar General Corporation (NYSE:DG - Free Report) by 33.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,796 shares of the company's stock after buying an additional 15,032 shares during the quarter. Mackenzie Financial Corp's holdings in Dollar General were worth $5,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DG. Altshuler Shaham Ltd bought a new position in Dollar General in the fourth quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in Dollar General during the 4th quarter valued at $31,000. Mountain Hill Investment Partners Corp. boosted its position in Dollar General by 66.7% during the 1st quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock valued at $44,000 after acquiring an additional 200 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Dollar General by 170.1% during the 1st quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock valued at $48,000 after acquiring an additional 342 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in Dollar General by 39.4% during the 1st quarter. CVA Family Office LLC now owns 570 shares of the company's stock valued at $50,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DG. Telsey Advisory Group reaffirmed a "market perform" rating and set a $120.00 target price on shares of Dollar General in a research report on Thursday, July 17th. Loop Capital raised their price objective on Dollar General from $110.00 to $120.00 and gave the stock a "hold" rating in a research report on Thursday, July 10th. Truist Financial raised their price objective on Dollar General from $93.00 to $112.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. Morgan Stanley raised their price objective on Dollar General from $85.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group cut Dollar General from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $115.00 to $116.00 in a research report on Tuesday, June 24th. Sixteen 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $108.40.

Insider Activity at Dollar General

In other Dollar General news, EVP Emily C. Taylor sold 1,969 shares of the business'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 transaction of $222,497.00. Following the completion of the sale, the executive vice president directly owned 46,563 shares in the company, valued at approximately $5,261,619. The trade was a 4.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathleen A. Reardon sold 6,438 shares of the business'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 value 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 trade represents 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 Price Performance

Shares of Dollar General stock traded up $3.64 on Friday, hitting $108.54. The company's stock had a trading volume of 4,216,646 shares, compared to its average volume of 2,705,135. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.20 and a current ratio of 1.23. Dollar General Corporation has a 1 year low of $66.43 and a 1 year high of $126.98. The firm has a fifty day moving average price of $110.15 and a 200-day moving average price of $92.71. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.31.

Dollar General (NYSE:DG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Dollar General's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, July 8th. Dollar General's 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.