Oppenheimer Asset Management Inc. Raises Stock Holdings in Dollar General Corporation (NYSE:DG)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Dollar General Corporation (NYSE:DG - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 736,766 shares of the company's stock after purchasing an additional 76,937 shares during the quarter. Dollar General accounts for approximately 0.8% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 16th largest position. Oppenheimer Asset Management Inc. owned about 0.33% of Dollar General worth $64,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DG. Altshuler Shaham Ltd purchased a new stake in Dollar General in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new stake in Dollar General in the fourth quarter worth approximately $25,000. Providence First Trust Co purchased a new stake in Dollar General in the fourth quarter worth approximately $33,000. Ameriflex Group Inc. purchased a new stake in Dollar General in the fourth quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Dollar General by 126.4% during the fourth quarter. Venturi Wealth Management LLC now owns 498 shares of the company's stock valued at $38,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 91.77% of the company's stock.

Insider Activity

In related news, EVP Kathleen A. Reardon sold 6,438 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now owns 41,646 shares in the company, valued at $4,646,027.76. The trade was a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Emily C. Taylor sold 1,969 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 46,563 shares of the company's stock, valued at approximately $5,261,619. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,216 shares of company stock valued at $1,017,349. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DG shares. Citigroup increased their price objective on Dollar General from $101.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Barclays increased their price objective on Dollar General from $100.00 to $119.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Oppenheimer raised Dollar General from a "market perform" rating to an "outperform" rating and set a $130.00 price objective for the company in a research note on Wednesday, June 4th. Melius Research raised Dollar General from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Dollar General in a research note on Tuesday, June 3rd. Fifteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Dollar General currently has an average rating of "Moderate Buy" and an average target price of $109.04.

Dollar General Stock Down 0.7%

Shares of DG opened at $111.47 on Monday. The business's 50 day moving average is $99.44 and its 200 day moving average is $85.11. The company has a market capitalization of $24.53 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.91 and a beta of 0.26. Dollar General Corporation has a 12-month low of $66.43 and a 12-month high of $135.46. 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 released its quarterly earnings data on Tuesday, June 3rd. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.32. The business had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.25 billion. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Research analysts expect that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, July 8th. Dollar General's dividend payout ratio is currently 45.04%.

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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