Oppenheimer Boosts Dollar General (NYSE:DG) Price Target to $150.00

Dollar General (NYSE:DG) had its target price raised by Oppenheimer from $135.00 to $150.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a top pick rating on the stock. Oppenheimer also issued estimates for Dollar General’s FY2021 earnings at $7.15 EPS and FY2022 earnings at $7.88 EPS.

Several other research firms have also issued reports on DG. Buckingham Research reissued a positive rating and issued a $152.00 target price (up from $125.00) on shares of Dollar General in a report on Friday, May 31st. Bank of America set a $133.00 price objective on shares of Dollar General and gave the company a buy rating in a report on Wednesday, April 10th. Citigroup increased their price objective on shares of Dollar General from $120.00 to $144.00 and gave the company a buy rating in a report on Wednesday, March 6th. Deutsche Bank lowered shares of Dollar General from a buy rating to a hold rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $138.00 price objective (up from $129.00) on shares of Dollar General in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $133.00.

Shares of DG stock opened at $135.96 on Thursday. Dollar General has a 12 month low of $95.61 and a 12 month high of $137.35. The firm has a market cap of $35.14 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.69. The company has a current ratio of 1.16, a quick ratio of 0.12 and a debt-to-equity ratio of 1.52.

Dollar General (NYSE:DG) last announced its quarterly earnings results on Thursday, May 30th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.09. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.57 billion. Dollar General had a net margin of 6.16% and a return on equity of 25.03%. Dollar General’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, analysts expect that Dollar General will post 6.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, July 8th. Dollar General’s dividend payout ratio (DPR) is 21.44%.

In related news, EVP Robert D. Ravener sold 8,973 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $123.82, for a total transaction of $1,111,036.86. Following the completion of the sale, the executive vice president now directly owns 17,794 shares in the company, valued at $2,203,253.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert D. Ravener sold 38,659 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $119.84, for a total value of $4,632,894.56. Following the sale, the executive vice president now owns 39,739 shares of the company’s stock, valued at $4,762,321.76. The disclosure for this sale can be found here. Insiders have sold 143,255 shares of company stock valued at $17,037,351 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC acquired a new position in shares of Dollar General in the 1st quarter valued at $212,000. Princeton Global Asset Management LLC acquired a new position in shares of Dollar General in the 1st quarter valued at $220,000. Diversified Trust Co lifted its stake in shares of Dollar General by 5.9% in the 1st quarter. Diversified Trust Co now owns 10,900 shares of the company’s stock valued at $1,300,000 after purchasing an additional 608 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Dollar General in the 1st quarter valued at $321,000. Finally, Hendley & Co. Inc. lifted its stake in shares of Dollar General by 4.1% in the 1st quarter. Hendley & Co. Inc. now owns 28,315 shares of the company’s stock valued at $3,378,000 after purchasing an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 95.15% of the company’s stock.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.

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