VIRGINIA RETIREMENT SYSTEMS ET Al Invests $51.63 Million in Dollar General Corporation $DG

Key Points

• The Virginia Retirement Systems ET Al made a significant investment of approximately $51.63 million in Dollar General Corporation, acquiring 451,400 shares during the 2nd quarter.
• Dollar General reported a strong quarterly performance with earnings per share of $1.86, beating expectations and showing a 5.1% year-over-year revenue growth.
• The company also announced a quarterly dividend of $0.59 per share, with a dividend yield of 2.2%, highlighting confidence in its financial stability.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dollar General Corporation (NYSE:DG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 451,400 shares of the company's stock, valued at approximately $51,631,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.21% of Dollar General at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its holdings in Dollar General by 5,440.2% in the first quarter. Pacer Advisors Inc. now owns 1,582,569 shares of the company's stock valued at $139,155,000 after buying an additional 1,554,004 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Dollar General by 251.6% in the 1st quarter. Royal Bank of Canada now owns 2,035,524 shares of the company's stock valued at $178,983,000 after acquiring an additional 1,456,549 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Dollar General by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 26,433,202 shares of the company's stock valued at $2,324,271,000 after acquiring an additional 1,201,917 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Dollar General by 8.5% during the first quarter. Pzena Investment Management LLC now owns 12,770,542 shares of the company's stock worth $1,122,914,000 after purchasing an additional 1,003,206 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Dollar General in the first quarter worth $41,798,000. 91.77% of the stock is currently owned by institutional investors.

Dollar General Price Performance

NYSE:DG opened at $105.79 on Friday. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The business's 50-day moving average price is $106.54 and its 200 day moving average price is $104.25. Dollar General Corporation has a 52-week low of $66.43 and a 52-week high of $117.95. The firm has a market cap of $23.29 billion, a P/E ratio of 19.59, a PEG ratio of 2.23 and a beta of 0.30.

Dollar General (NYSE:DG - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.30. Dollar General had a net margin of 2.86% and a return on equity of 17.97%. The company had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm posted $1.70 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. As a group, sell-side analysts predict that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 7th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $2.36 annualized dividend and a dividend yield of 2.2%. Dollar General's dividend payout ratio (DPR) is currently 43.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DG. Raymond James Financial increased their target price on shares of Dollar General from $125.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Piper Sandler raised their target price on shares of Dollar General from $115.00 to $117.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Wolfe Research began coverage on Dollar General in a research note on Thursday, September 18th. They issued an "outperform" rating and a $139.00 target price for the company. Loop Capital increased their price target on Dollar General from $110.00 to $120.00 and gave the stock a "hold" rating in a research report on Thursday, July 10th. Finally, Evercore ISI reduced their price objective on Dollar General from $114.00 to $112.00 and set an "in-line" rating for the company in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $115.40.

About Dollar General

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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