Oppenheimer Asset Management Inc. Boosts Stake in Dollar General Co. (NYSE:DG)

Oppenheimer Asset Management Inc. increased its position in shares of Dollar General Co. (NYSE:DG) by 85.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,107 shares of the company’s stock after buying an additional 26,813 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Dollar General were worth $7,683,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DG. Cetera Investment Advisers raised its holdings in shares of Dollar General by 278.1% in the first quarter. Cetera Investment Advisers now owns 64,628 shares of the company’s stock valued at $10,086,000 after buying an additional 47,534 shares during the last quarter. Vanguard Group Inc. lifted its position in Dollar General by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock worth $3,408,514,000 after acquiring an additional 3,360,413 shares during the period. Nexus Investment Management ULC lifted its position in Dollar General by 10.5% during the 1st quarter. Nexus Investment Management ULC now owns 191,800 shares of the company’s stock worth $29,932,000 after acquiring an additional 18,280 shares during the period. FIL Ltd increased its holdings in shares of Dollar General by 31.4% in the fourth quarter. FIL Ltd now owns 1,340,157 shares of the company’s stock valued at $182,194,000 after purchasing an additional 320,157 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dollar General during the first quarter worth approximately $15,896,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Stock Up 1.9 %

Shares of NYSE DG opened at $84.75 on Monday. The firm’s 50-day moving average is $112.80 and its two-hundred day moving average is $131.96. The company has a market capitalization of $18.64 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.36 and a beta of 0.44. Dollar General Co. has a 12-month low of $77.96 and a 12-month high of $168.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22 and a quick ratio of 0.24.

Dollar General (NYSE:DG) last posted its earnings results on Thursday, August 29th. The company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). The company had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Dollar General had a net margin of 3.57% and a return on equity of 20.62%. Dollar General’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. Equities analysts anticipate that Dollar General Co. will post 5.85 EPS for the current fiscal year.

Dollar General Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.78%. The ex-dividend date is Tuesday, October 8th. Dollar General’s payout ratio is 34.35%.

Insider Buying and Selling at Dollar General

In other news, EVP Roderick J. West sold 2,510 shares of Dollar General stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.25, for a total transaction of $208,957.50. Following the completion of the sale, the executive vice president now directly owns 9,163 shares in the company, valued at $762,819.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Roderick J. West sold 2,510 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.25, for a total transaction of $208,957.50. Following the sale, the executive vice president now owns 9,163 shares in the company, valued at $762,819.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Warren F. Bryant bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $80.83 per share, with a total value of $80,830.00. Following the completion of the purchase, the director now directly owns 42,030 shares of the company’s stock, valued at approximately $3,397,284.90. The disclosure for this purchase can be found here. 0.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Loop Capital lowered their price objective on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Argus dropped their price target on shares of Dollar General from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler reduced their price objective on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Dollar General in a report on Monday, August 26th. Finally, UBS Group cut their target price on Dollar General from $155.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Dollar General currently has an average rating of “Hold” and an average target price of $113.95.

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.