State of New Jersey Common Pension Fund D Trims Stock Position in Dollar General Corporation $DG

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stock holdings in Dollar General Corporation by 6.5%, now owning 76,773 shares valued at approximately $6.75 million.
• Several institutional investors, including Ameriprise Financial and Wealth Enhancement Advisory Services, have increased their stakes in Dollar General, indicating strong institutional interest, with 91.77% of the company's stock owned by institutional investors.
• Dollar General recently updated its dividend, declaring a quarterly payment of $0.59 per share, reflecting an annualized yield of 2.1% and a dividend payout ratio of 45.04%.

State of New Jersey Common Pension Fund D decreased its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,773 shares of the company's stock after selling 5,321 shares during the period. State of New Jersey Common Pension Fund D's holdings in Dollar General were worth $6,751,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Studio Investment Management LLC raised its holdings in Dollar General by 16.4% in the 4th quarter. Studio Investment Management LLC now owns 989 shares of the company's stock valued at $75,000 after acquiring an additional 139 shares during the last quarter. Eagle Rock Investment Company LLC raised its holdings in Dollar General by 0.5% in the 1st quarter. Eagle Rock Investment Company LLC now owns 28,983 shares of the company's stock valued at $2,548,000 after acquiring an additional 156 shares during the last quarter. CVA Family Office LLC raised its holdings in Dollar General by 39.4% in 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 during the last quarter. Allworth Financial LP raised its holdings in Dollar General by 12.1% in the 1st quarter. Allworth Financial LP now owns 1,519 shares of the company's stock valued at $142,000 after acquiring an additional 164 shares during the last quarter. Finally, Bogart Wealth LLC raised its holdings in Dollar General by 37.6% in the 1st quarter. Bogart Wealth LLC now owns 674 shares of the company's stock valued at $59,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

Dollar General Trading Down 0.1%

Dollar General stock traded down $0.08 during trading on Friday, hitting $112.41. The company had a trading volume of 2,428,501 shares, compared to its average volume of 2,762,915. Dollar General Corporation has a 1-year low of $66.43 and a 1-year high of $125.42. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74. The company's 50 day simple moving average is $112.18 and its 200-day simple moving average is $96.80. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.75 and a beta of 0.31.

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

Dollar General Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were paid a $0.59 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $2.36 annualized dividend and a dividend yield of 2.1%. Dollar General's payout ratio is 45.04%.

Wall Street Analyst Weigh In

DG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Dollar General from $88.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Sanford C. Bernstein set a $120.00 price target on shares of Dollar General in a report on Friday, May 23rd. Oppenheimer upgraded shares of Dollar General from a "market perform" rating to an "outperform" rating and set a $130.00 price target for the company in a report on Wednesday, June 4th. Piper Sandler raised their price target on shares of Dollar General from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Gordon Haskett upgraded shares of Dollar General from a "reduce" rating to an "accumulate" rating in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat, Dollar General presently has a consensus rating of "Hold" and an average target price of $108.80.

Insider Buying and Selling at Dollar General

In related news, EVP Kathleen A. Reardon sold 6,438 shares of the business'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 completion of the transaction, the executive vice president owned 41,646 shares in the company, valued at approximately $4,646,027.76. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Emily C. Taylor sold 1,969 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 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. 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.