Bayesian Capital Management LP Invests $4.08 Million in Dollar General Co. (NYSE:DG)

Bayesian Capital Management LP acquired a new stake in Dollar General Co. (NYSE:DG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,400 shares of the company’s stock, valued at approximately $4,083,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DG. First Manhattan Co. lifted its holdings in Dollar General by 447.4% in the 4th quarter. First Manhattan Co. now owns 104 shares of the company’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. Financial Freedom LLC purchased a new position in shares of Dollar General during the 4th quarter worth $26,000. Atlas Capital Advisors LLC purchased a new position in shares of Dollar General during the 2nd quarter worth $32,000. SouthState Corp purchased a new position in shares of Dollar General during the 4th quarter worth $37,000. Finally, Focused Wealth Management Inc raised its holdings in shares of Dollar General by 129.9% during the 1st quarter. Focused Wealth Management Inc now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 90.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DG shares. Piper Sandler reduced their price target on Dollar General from $178.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday, September 1st. Raymond James downgraded Dollar General from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $200.00 to $160.00 in a research report on Friday, September 1st. Barclays dropped their target price on Dollar General from $165.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, September 1st. TheStreet downgraded Dollar General from a “b-” rating to a “c+” rating in a research report on Thursday, June 1st. Finally, Evercore ISI lowered their price target on Dollar General from $150.00 to $145.00 and set an “in-line” rating for the company in a report on Friday. Seventeen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $159.41.

Dollar General Price Performance

Shares of DG stock traded down $1.15 during mid-day trading on Monday, reaching $126.05. The stock had a trading volume of 1,658,681 shares, compared to its average volume of 2,616,573. Dollar General Co. has a 12-month low of $123.31 and a 12-month high of $261.59. The company has a market cap of $27.67 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.30. The business has a 50-day simple moving average of $159.94 and a 200 day simple moving average of $187.23. The company has a current ratio of 1.39, a quick ratio of 0.12 and a debt-to-equity ratio of 1.16.

Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, August 31st. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.34). Dollar General had a net margin of 5.59% and a return on equity of 36.34%. The firm had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.93 billion. During the same quarter in the prior year, the business earned $2.98 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Dollar General Co. will post 7.82 earnings per share for the current year.

Dollar General Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, October 6th. Dollar General’s dividend payout ratio is currently 24.18%.

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.