Independence Bank of Kentucky Boosts Stake in Dollar General Co. (NYSE:DG)

Independence Bank of Kentucky increased its position in Dollar General Co. (NYSE:DG) by 34.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,576 shares of the company’s stock after buying an additional 2,996 shares during the period. Independence Bank of Kentucky’s holdings in Dollar General were worth $1,965,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DG. First Manhattan Co. raised its position in Dollar General by 447.4% during the fourth quarter. First Manhattan Co. now owns 104 shares of the company’s stock valued at $26,000 after purchasing an additional 85 shares during the period. Financial Freedom LLC purchased a new stake in Dollar General during the fourth quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Dollar General during the first quarter valued at approximately $28,000. Atlas Capital Advisors LLC purchased a new stake in Dollar General during the second quarter valued at approximately $32,000. Finally, SouthState Corp purchased a new stake in Dollar General during the fourth quarter valued at approximately $37,000. 90.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price target on Dollar General from $166.00 to $142.00 and set a “hold” rating on the stock in a report on Friday, September 1st. JPMorgan Chase & Co. downgraded Dollar General from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $210.00 to $132.00 in a report on Thursday, August 31st. Bank of America reduced their price target on Dollar General from $155.00 to $130.00 in a report on Friday, September 1st. Atlantic Securities downgraded Dollar General from an “overweight” rating to a “neutral” rating and set a $170.00 price target on the stock. in a report on Friday, June 2nd. Finally, Telsey Advisory Group cut Dollar General from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $185.00 to $145.00 in a research note on Friday, September 1st. Seventeen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Dollar General currently has an average rating of “Hold” and an average price target of $159.41.

Dollar General Stock Performance

Shares of DG opened at $117.99 on Friday. Dollar General Co. has a 12 month low of $117.13 and a 12 month high of $261.59. The stock has a fifty day moving average price of $156.11 and a 200-day moving average price of $185.03. The company has a current ratio of 1.39, a quick ratio of 0.15 and a debt-to-equity ratio of 1.16. The firm has a market cap of $25.90 billion, a PE ratio of 12.07, a P/E/G ratio of 2.12 and a beta of 0.30.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, August 31st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.34). Dollar General had a net margin of 5.59% and a return on equity of 36.34%. The business had revenue of $9.80 billion for the quarter, compared to analysts’ expectations of $9.93 billion. During the same quarter in the prior year, the company posted $2.98 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts predict that Dollar General Co. will post 7.82 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be paid a $0.59 dividend. The ex-dividend date is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 2.00%. Dollar General’s dividend payout ratio (DPR) is 24.18%.

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.