Wedge Capital Management L L P NC Has $14.03 Million Stock Position in Dollar General Co. (NYSE:DG)

Wedge Capital Management L L P NC lowered its stake in Dollar General Co. (NYSE:DG) by 3.2% during the second quarter, Holdings Channel.com reports. The fund owned 106,077 shares of the company’s stock after selling 3,520 shares during the period. Wedge Capital Management L L P NC’s holdings in Dollar General were worth $14,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in Dollar General during the fourth quarter worth approximately $18,861,000. Cerity Partners LLC increased its position in Dollar General by 7.5% during the fourth quarter. Cerity Partners LLC now owns 16,982 shares of the company’s stock worth $2,308,000 after buying an additional 1,190 shares during the last quarter. ORG Partners LLC increased its position in Dollar General by 13.2% during the fourth quarter. ORG Partners LLC now owns 754 shares of the company’s stock worth $103,000 after buying an additional 88 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Dollar General during the fourth quarter worth approximately $1,808,000. Finally, Conning Inc. acquired a new position in Dollar General during the fourth quarter worth approximately $209,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analysts Set New Price Targets

DG has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on Dollar General from $147.00 to $141.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Argus reduced their price objective on Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a report on Monday, July 15th. BMO Capital Markets reduced their price objective on Dollar General from $150.00 to $140.00 and set a “market perform” rating for the company in a report on Friday, May 31st. Evercore ISI reduced their price objective on Dollar General from $151.00 to $148.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Dollar General from $161.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Dollar General currently has an average rating of “Hold” and an average target price of $147.41.

Dollar General Price Performance

NYSE DG traded up $4.04 on Thursday, hitting $120.58. 2,729,915 shares of the company’s stock were exchanged, compared to its average volume of 2,422,080. The stock has a 50-day moving average of $124.46 and a 200-day moving average of $137.46. The company has a current ratio of 1.22, a quick ratio of 0.18 and a debt-to-equity ratio of 0.89. Dollar General Co. has a 52 week low of $101.09 and a 52 week high of $168.07. The stock has a market cap of $26.51 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 2.36 and a beta of 0.43.

Dollar General (NYSE:DG) last released its earnings results on Thursday, May 30th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.08. Dollar General had a return on equity of 22.80% and a net margin of 3.85%. The firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.89 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Dollar General Co. will post 7.21 earnings per share for the current 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. This represents a $2.36 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, July 9th. Dollar General’s payout ratio is presently 34.35%.

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.