First Horizon Advisors Inc. is reducing its position in Dollar General Co. (NYSE:DG)

VaselineAugust 22, 2024

0 3 minutes read

First Horizon Advisors Inc. reduced its position in shares of Dollar General Co. (NYSE:DG – Free Report) by 70.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 499 shares of the company’s stock after selling 1,170 shares during the period. Holdings of First Horizon Advisors Inc. holdings in Dollar General were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Dollar General in the 4th quarter valued at $18,861,000. Federated Hermes Inc. boosted its position in Dollar General by 41.0% during the fourth quarter. Federated Hermes Inc. now owns 423 shares of the company’s stock valued at $58,000 after buying an additional 123 shares during the period. abrdn plc raised its stake in shares of Dollar General by 14.2% in the fourth quarter. abrdn plc now owns 91,868 shares of the company’s stock valued at $12,489,000 after purchasing an additional 11,442 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Dollar General by 46.5% in the fourth quarter. Lindbrook Capital LLC now owns 1,150 shares of the company’s stock worth $156,000 after purchasing an additional 365 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in shares of Dollar General by 8.7% in the fourth quarter. OLD National Bancorp IN now owns 5,204 shares of the company’s stock worth $707,000 after purchasing an additional 415 shares during the period. Institutional investors own 91.77% of the company’s shares.

General dollar inventories rose 1.7%

NYSE:DG opened at $123.66 on Thursday. 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 company’s 50-day moving average price is $124.15 and its 200-day moving average price is $137.17. The company has a market cap of $27.19 billion, a PE ratio of 18.00, a P/E/G ratio of 2.36 and a beta of 0.43. Dollar General Co. has a 1 year low of $101.09 and a 1 year high of $168.07.

Want more great investment ideas?

Dollar General (NYSE:DG – Get Your Free Report ) last announced its quarterly earnings data 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. Dollar General had a net margin of 3.85% and a return on equity of 22.80%. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.89 billion. In the same quarter last year, the company earned $2.34 per share. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Dollar General Co. will post 7.21 EPS for the current fiscal year.

Dollar General announces dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were given a $0.59 dividend. This represents an annualized dividend of $2.36 and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, July 9th. Dollar General’s dividend payout ratio (DPR) is 34.35%.

Changes in Analyst Ratings

Several equities analysts have recently issued reports on DG shares. Truist Financial cut their price target on Dollar General from $140.00 to $135.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Argus cut 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. Evercore ISI decreased their price target on shares of Dollar General from $151.00 to $148.00 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Telsey Advisory Group restated an “outperform” rating and issued a $170.00 price objective on shares of Dollar General in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Dollar General from $161.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $147.41, according to MarketBeat.com.

Read our latest research report on DG

About Dollar General

(Free Report)

Dollar General Corporation, a discount retailer, provides various merchandise products in the South, Southwest, Midwest, and Eastern United States. Provides consumables including paper and cleaning products such as paper towels, bath tissue, paper tableware, trash and storage bags, disinfectants and laundry detergent; Packaged foods including cereals, pasta, canned soups, fruits and vegetables, spices, seasonings, sugar and flour; and perishables that include milk, eggs, bread, refrigerated and frozen foods, beer and wine.