Professional Advisory Services Inc. Raises Position in Dollar General Co. (NYSE:DG)

Professional Advisory Services Inc. raised its stake in Dollar General Co. (NYSE:DG) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,728 shares of the company’s stock after purchasing an additional 10,789 shares during the quarter. Dollar General accounts for about 2.9% of Professional Advisory Services Inc.’s portfolio, making the stock its 23rd biggest position. Professional Advisory Services Inc. owned approximately 0.05% of Dollar General worth $18,799,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DG. Moody National Bank Trust Division increased its position in shares of Dollar General by 1.4% during the second quarter. Moody National Bank Trust Division now owns 6,826 shares of the company’s stock valued at $1,159,000 after acquiring an additional 92 shares during the last quarter. Bellecapital International Ltd. increased its position in shares of Dollar General by 153.6% during the second quarter. Bellecapital International Ltd. now owns 4,450 shares of the company’s stock valued at $756,000 after acquiring an additional 2,695 shares during the last quarter. LVM Capital Management Ltd. MI increased its position in shares of Dollar General by 1.9% during the second quarter. LVM Capital Management Ltd. MI now owns 90,536 shares of the company’s stock valued at $15,371,000 after acquiring an additional 1,691 shares during the last quarter. Nexus Investment Management ULC increased its position in shares of Dollar General by 0.8% during the second quarter. Nexus Investment Management ULC now owns 160,385 shares of the company’s stock valued at $27,230,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Dollar General by 1.3% during the second quarter. Nordea Investment Management AB now owns 16,601 shares of the company’s stock valued at $2,788,000 after acquiring an additional 207 shares during the last quarter. 90.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DG has been the subject of a number of research analyst reports. Citigroup decreased their price target on Dollar General from $185.00 to $146.00 in a research report on Friday, September 1st. Truist Financial reduced their price objective on Dollar General from $166.00 to $142.00 and set a “hold” rating for the company in a report on Friday, September 1st. TheStreet lowered Dollar General from a “b-” rating to a “c+” rating in a report on Thursday, June 1st. Bank of America reduced their price objective on Dollar General from $155.00 to $130.00 in a report on Friday, September 1st. Finally, OTR Global raised Dollar General to a “positive” rating in a report on Friday, May 26th. Seventeen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Dollar General presently has a consensus rating of “Hold” and an average target price of $159.41.

Dollar General Price Performance

NYSE DG traded down $2.11 during trading hours on Friday, reaching $115.68. 6,516,825 shares of the stock traded hands, compared to its average volume of 2,698,964. The stock has a 50 day simple moving average of $156.11 and a two-hundred day simple moving average of $185.03. Dollar General Co. has a 1 year low of $115.35 and a 1 year high of $261.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.39 and a quick ratio of 0.15. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.12 and a beta of 0.30.

Dollar General (NYSE:DG) last released 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). The firm had revenue of $9.80 billion for the quarter, compared to analysts’ expectations of $9.93 billion. Dollar General had a net margin of 5.59% and a return on equity of 36.34%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.98 EPS. On average, analysts predict that Dollar General Co. will post 7.82 EPS for the current fiscal year.

Dollar General Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be issued a $0.59 dividend. The ex-dividend date is Friday, October 6th. This represents a $2.36 annualized dividend and a dividend yield of 2.04%. Dollar General’s dividend payout ratio is currently 24.18%.

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.