Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Position in Dollar General Co. (NYSE:DG)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Dollar General Co. (NYSE:DG) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,550 shares of the company’s stock after selling 186 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dollar General were worth $3,378,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DG. Price T Rowe Associates Inc. MD raised its position in shares of Dollar General by 162.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,185,887 shares of the company’s stock valued at $2,472,372,000 after buying an additional 11,257,537 shares during the last quarter. Vanguard Group Inc. raised its holdings in Dollar General by 15.5% in the 4th 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 during the last quarter. Norges Bank acquired a new position in shares of Dollar General during the 4th quarter worth approximately $337,150,000. Capital International Investors grew 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 valued at $2,539,026,000 after purchasing an additional 2,273,119 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Dollar General in the first quarter valued at approximately $301,738,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DG shares. Argus dropped their target price on Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a report on Monday, July 15th. UBS Group dropped their price objective on shares of Dollar General from $155.00 to $108.00 and set a “buy” rating for the company in a report on Friday. Truist Financial reduced their target price on shares of Dollar General from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Loop Capital dropped their price target on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating for the company in a research note on Friday. Finally, Evercore ISI reduced their price target on shares of Dollar General from $139.00 to $100.00 and set an “in-line” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Dollar General has an average rating of “Hold” and an average target price of $118.48.

Dollar General Stock Performance

NYSE:DG opened at $82.97 on Friday. The company has a market cap of $18.24 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth 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 52 week low of $82.68 and a 52 week high of $168.07. The company has a fifty day simple moving average of $123.09 and a two-hundred day simple moving average of $136.42.

Dollar General (NYSE:DG) last released its earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). The company had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.37 billion. Dollar General had a return on equity of 22.80% and a net margin of 3.85%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 earnings per share. As a group, equities analysts anticipate that Dollar General Co. will post 7.21 earnings per share for the current fiscal year.

Dollar General Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.84%. Dollar General’s dividend payout ratio is currently 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.