Dollar General (NYSE:DG) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Dollar General (NYSE:DG – Get Rating) posted its earnings results on Thursday. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.01, Yahoo Finance reports. The firm had revenue of $10.20 billion during the quarter, compared to analyst estimates of $10.24 billion. Dollar General had a net margin of 6.49% and a return on equity of 38.43%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 EPS. Dollar General updated its FY 2023 guidance to $11.11-$11.32 EPS.

Dollar General Stock Down 3.0 %

DG stock opened at $212.09 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.13 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $227.20 and its 200 day moving average is $239.37. The stock has a market cap of $47.42 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.74 and a beta of 0.34. Dollar General has a 1-year low of $183.25 and a 1-year high of $262.20.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued a “focus list” rating and issued a $242.00 price target (down from $289.00) on shares of Dollar General in a report on Thursday, January 19th. StockNews.com assumed coverage on shares of Dollar General in a report on Thursday. They set a “hold” rating on the stock. Truist Financial dropped their price objective on shares of Dollar General from $237.00 to $211.00 in a report on Friday, February 24th. Gordon Haskett cut Dollar General from a “buy” rating to an “accumulate” rating and decreased their price target for the company from $275.00 to $245.00 in a research report on Friday, February 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Dollar General from $276.00 to $248.00 in a research report on Friday, February 24th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.25.

Insider Buying and Selling

In related news, Director Warren F. Bryant sold 1,951 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $243.93, for a total value of $475,907.43. Following the transaction, the director now directly owns 38,269 shares in the company, valued at $9,334,957.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DG. Financial Freedom LLC bought a new position in Dollar General during the fourth quarter valued at approximately $26,000. First Manhattan Co. grew its position in Dollar General by 447.4% during the fourth quarter. First Manhattan Co. now owns 104 shares of the company’s stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Dollar General during the second quarter valued at approximately $32,000. Covestor Ltd grew its position in Dollar General by 156.4% during the first quarter. Covestor Ltd now owns 418 shares of the company’s stock valued at $93,000 after acquiring an additional 255 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Dollar General during the first quarter valued at approximately $212,000. 90.73% of the stock is currently owned by institutional investors.

About Dollar General

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Dollar General Corp. engages in the operation of merchandise stores. Its offerings include food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items. It sells brands including Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J.