Artemis Investment Management LLP Acquires New Holdings in Dollar General Co. (NYSE:DG)

Artemis Investment Management LLP acquired a new stake in shares of Dollar General Co. (NYSE:DG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 79,214 shares of the company’s stock, valued at approximately $10,474,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Dollar General by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 25,071,820 shares of the company’s stock valued at $3,408,514,000 after acquiring an additional 3,360,413 shares in the last quarter. Capital International Investors grew its stake in Dollar General by 11.3% during the first quarter. Capital International Investors now owns 20,790,023 shares of the company’s stock valued at $3,244,491,000 after acquiring an additional 2,113,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Dollar General by 11.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,217,480 shares of the company’s stock valued at $3,155,141,000 after acquiring an additional 2,031,593 shares in the last quarter. Capital World Investors grew its stake in Dollar General by 1.0% during the fourth quarter. Capital World Investors now owns 13,068,256 shares of the company’s stock valued at $1,776,629,000 after acquiring an additional 133,591 shares in the last quarter. Finally, Norges Bank bought a new stake in Dollar General during the fourth quarter valued at approximately $337,150,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

DG has been the subject of several research analyst reports. Argus dropped their target price on shares of Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Telsey Advisory Group restated an “outperform” rating and issued a $170.00 price objective on shares of Dollar General in a report on Thursday, May 30th. BMO Capital Markets lowered their price objective on shares of Dollar General from $150.00 to $140.00 and set a “market perform” rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. lowered their price objective on shares of Dollar General from $161.00 to $137.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Piper Sandler lowered their price objective on shares of Dollar General from $147.00 to $141.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $147.86.

Dollar General Stock Up 1.4 %

Shares of NYSE:DG traded up $1.58 during midday trading on Monday, reaching $118.39. The company’s stock had a trading volume of 954,969 shares, compared to its average volume of 2,410,336. The firm has a 50 day moving average of $125.79 and a 200-day moving average of $137.95. The firm has a market capitalization of $26.03 billion, a P/E ratio of 17.00, a PEG ratio of 2.36 and a beta of 0.43. The company has a quick ratio of 0.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.89. Dollar General Co. has a 12-month low of $101.09 and a 12-month high of $168.07.

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 analysts’ consensus estimates of $1.57 by $0.08. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.89 billion. Dollar General had a net margin of 3.85% and a return on equity of 22.80%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. On average, research analysts anticipate that Dollar General Co. will post 7.21 earnings per share for the current year.

Dollar General Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, July 9th. Dollar General’s payout ratio is 34.35%.

Dollar General 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.