Steel Grove Capital Advisors LLC Takes Position in Dollar General Co. (NYSE:DG)

Steel Grove Capital Advisors LLC bought a new stake in shares of Dollar General Co. (NYSE:DG) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,700 shares of the company’s stock, valued at approximately $265,000.

Several other hedge funds have also recently added to or reduced their stakes in DG. Price T Rowe Associates Inc. MD boosted its stake in shares of Dollar General by 162.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock worth $2,472,372,000 after purchasing an additional 11,257,537 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 3,360,413 shares during the last quarter. Norges Bank acquired a new stake in shares of Dollar General during the 4th quarter worth about $337,150,000. Capital International Investors boosted its position in shares of Dollar General by 13.9% in the fourth quarter. Capital International Investors now owns 18,676,538 shares of the company’s stock worth $2,539,026,000 after acquiring an additional 2,273,119 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Dollar General in the first quarter worth approximately $301,738,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Dollar General Stock Down 0.2 %

Shares of NYSE:DG traded down $0.22 during midday trading on Friday, reaching $118.09. The company had a trading volume of 1,577,358 shares, compared to its average volume of 2,407,047. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.22 and a quick ratio of 0.18. The stock’s fifty day moving average price is $129.76 and its 200-day moving average price is $138.95. The stock has a market capitalization of $25.97 billion, a P/E ratio of 17.19, a PEG ratio of 2.32 and a beta of 0.43. Dollar General Co. has a one year low of $101.09 and a one year high of $173.47.

Dollar General (NYSE:DG) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.08. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.89 billion. Dollar General had a net margin of 3.85% and a return on equity of 22.80%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share. Equities research analysts expect that Dollar General Co. will post 7.21 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.36 annualized dividend and a yield of 2.00%. Dollar General’s payout ratio is 34.35%.

Wall Street Analyst Weigh In

DG has been the topic of several research analyst reports. Loop Capital raised their target price on shares of Dollar General from $135.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Piper Sandler decreased their target price on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Evercore ISI decreased their target price on shares of Dollar General from $151.00 to $148.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company decreased their target price on shares of Dollar General from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 4th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $170.00 price target on shares of Dollar General in a research report on Thursday, May 30th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Dollar General currently has a consensus rating of “Hold” and an average target price of $147.86.

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.