Zacks Investment Research upgraded shares of Dollar General Corporation (NYSE:DG) from a hold rating to a buy rating in a report released on Wednesday. The brokerage currently has $80.00 price target on the stock.
According to Zacks, “Dollar General remains committed toward better price management, merchandise initiatives and cost containment. The company’s recent deal to acquire 322 stores from a small multi-price point retailer is also encouraging. We believe that the company’s strategic endeavors have helped it to deliver better-than-expected results for the second straight quarter, as it posted first-quarter fiscal 2017 financial numbers. Upbeat performance and the news of recent store buyout deal, prompted management to raise its sales outlook. As a result the stock has outperformed the industry in the past three months. Meanwhile, Trump’s suggestion of reducing food stamps program by $193 billion, which is nearly 25% of the budget for the program, will have a detrimental effect. Cut in SNAP benefit will hamper the company’s performance as people with low income will have less money to spend and could restrict their spending to low margin products.”
DG has been the topic of several other reports. Credit Suisse Group set a $69.00 price target on Dollar General Corporation and gave the company a hold rating in a research report on Thursday, March 2nd. Guggenheim reiterated an in-line rating and set a $90.00 price target on shares of Dollar General Corporation in a research report on Monday, March 13th. Gordon Haskett upgraded Dollar General Corporation from a reduce rating to an accumulate rating in a research report on Thursday, June 1st. Deutsche Bank AG reiterated a hold rating and set a $79.00 price target (up from $78.00) on shares of Dollar General Corporation in a research report on Saturday, June 3rd. Finally, Vetr cut Dollar General Corporation from a strong-buy rating to a buy rating and set a $76.50 price target on the stock. in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $80.76.
Dollar General Corporation (NYSE DG) traded up 1.22% during mid-day trading on Wednesday, reaching $71.27. 487,401 shares of the company were exchanged. The stock’s 50-day moving average price is $73.33 and its 200-day moving average price is $73.18. Dollar General Corporation has a 1-year low of $65.97 and a 1-year high of $96.88. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 16.11 and a beta of 0.96.
Dollar General Corporation (NYSE:DG) last issued its quarterly earnings results on Thursday, June 1st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.03. Dollar General Corporation had a return on equity of 23.07% and a net margin of 5.53%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Dollar General Corporation will post $4.50 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Tuesday, July 11th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.04 annualized dividend and a yield of 1.48%. Dollar General Corporation’s dividend payout ratio (DPR) is currently 23.48%.
A number of institutional investors have recently bought and sold shares of DG. Alpha Windward LLC raised its position in Dollar General Corporation by 2.4% in the first quarter. Alpha Windward LLC now owns 1,844 shares of the company’s stock valued at $129,000 after buying an additional 44 shares during the period. Levin Capital Strategies L.P. acquired a new position in Dollar General Corporation during the fourth quarter worth approximately $222,000. National Asset Management Inc. raised its position in Dollar General Corporation by 8.6% in the first quarter. National Asset Management Inc. now owns 3,273 shares of the company’s stock worth $230,000 after buying an additional 258 shares during the last quarter. Wrapmanager Inc. raised its position in Dollar General Corporation by 15.1% in the first quarter. Wrapmanager Inc. now owns 3,566 shares of the company’s stock worth $249,000 after buying an additional 469 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new position in Dollar General Corporation during the fourth quarter worth approximately $272,000. Institutional investors own 85.80% of the company’s stock.
Dollar General Corporation Company Profile
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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