Dollar General Corp. (DG) Short Interest Update
Dollar General Corp. (NYSE:DG) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 9,708,940 shares, an increase of 45.8% from the September 15th total of 6,657,805 shares. Based on an average trading volume of 4,038,781 shares, the short-interest ratio is currently 2.4 days. Currently, 3.5% of the company’s shares are short sold.
A number of research firms have issued reports on DG. Macquarie reduced their price target on Dollar General Corp. from $98.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Jefferies Group lowered Dollar General Corp. from a “buy” rating to a “hold” rating and reduced their price target for the company from $101.00 to $96.00 in a research report on Monday, August 15th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Dollar General Corp. from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Monday, July 18th. JPMorgan Chase & Co. lowered Dollar General Corp. from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $83.00 in a research report on Thursday, August 25th. Finally, Royal Bank Of Canada increased their price target on Dollar General Corp. from $90.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.42.
In related news, Director Michael M. Calbert purchased 13,000 shares of Dollar General Corp. stock in a transaction on Tuesday, August 30th. The shares were bought at an average price of $75.53 per share, with a total value of $981,890.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William C. Rhodes III purchased 5,000 shares of Dollar General Corp. stock in a transaction on Friday, August 26th. The stock was bought at an average cost of $76.30 per share, for a total transaction of $381,500.00. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company’s stock.
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Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new stake in shares of Dollar General Corp. during the first quarter valued at about $3,724,000. Aviva PLC boosted its stake in shares of Dollar General Corp. by 0.3% in the first quarter. Aviva PLC now owns 141,092 shares of the company’s stock valued at $12,077,000 after buying an additional 461 shares during the last quarter. Willis Investment Counsel boosted its stake in shares of Dollar General Corp. by 0.9% in the first quarter. Willis Investment Counsel now owns 97,634 shares of the company’s stock valued at $8,357,000 after buying an additional 860 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Dollar General Corp. during the first quarter valued at about $1,806,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of Dollar General Corp. by 75.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 31,600 shares of the company’s stock valued at $2,705,000 after buying an additional 13,600 shares during the last quarter. Hedge funds and other institutional investors own 85.44% of the company’s stock.
Shares of Dollar General Corp. (NYSE:DG) opened at 68.98 on Monday. Dollar General Corp. has a 12-month low of $59.75 and a 12-month high of $96.88. The stock has a 50 day moving average price of $71.26 and a 200 day moving average price of $84.31. The firm has a market capitalization of $19.43 billion, a PE ratio of 16.13 and a beta of 0.74.
Dollar General Corp. (NYSE:DG) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.01. Dollar General Corp. had a net margin of 5.86% and a return on equity of 22.95%. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the company earned $0.95 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Dollar General Corp. will post $4.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, September 12th. Dollar General Corp.’s payout ratio is currently 23.42%.
About Dollar General Corp.
Dollar General Corporation is a discount retailer. The Company offers a selection of merchandise, including consumables, seasonal, home products and apparel. The Company’s consumables category includes paper and cleaning products (such as paper towels, bath tissue, and other home cleaning supplies); packaged food (such as cereals, spices, sugar and flour); perishables (such as milk, beer and wine); snacks (such as candy, cookies, and carbonated beverages); health and beauty (such as over-the-counter medicines and personal care products); pet (pet supplies and pet food), and tobacco products.
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