Dollar General (NYSE:DG) Price Target Lowered to $245.00 at Wells Fargo & Company

Dollar General (NYSE:DG – Get Rating) had its price objective lowered by Wells Fargo & Company from $275.00 to $245.00 in a report issued on Friday morning, The Fly reports.

DG has been the subject of several other reports. Telsey Advisory Group restated an outperform rating and set a $242.00 target price on shares of Dollar General in a report on Friday. Truist Financial dropped their target price on shares of Dollar General from $237.00 to $211.00 in a report on Friday, February 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Dollar General from $276.00 to $248.00 in a report on Friday, February 24th. Oppenheimer raised their target price on shares of Dollar General from $275.00 to $285.00 and gave the company an outperform rating in a report on Monday, November 28th. Finally, JPMorgan Chase & Co. restated a focus list rating and set a $242.00 target price (down from $289.00) on shares of Dollar General in a report on Thursday, January 19th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $250.50.

Dollar General Price Performance

Shares of DG traded down $3.26 during trading hours on Friday, reaching $208.83. The company had a trading volume of 7,689,851 shares, compared to its average volume of 2,101,594. The firm has a 50 day simple moving average of $226.41 and a 200-day simple moving average of $239.17. 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 has a market capitalization of $46.69 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.74 and a beta of 0.34. Dollar General has a 12-month low of $183.25 and a 12-month high of $262.20.

Dollar General (NYSE:DG – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.02. The business had revenue of $10.20 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.57 EPS. Research analysts expect that Dollar General will post 10.66 earnings per share for the current year.

Dollar General Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be given a $0.59 dividend. The ex-dividend date is Monday, April 10th. This is a boost from Dollar General’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. Dollar General’s dividend payout ratio (DPR) is currently 21.38%.

Insider Buying and Selling

In other Dollar General news, Director Warren F. Bryant sold 1,951 shares of Dollar General stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $243.93, for a total transaction of $475,907.43. Following the transaction, the director now directly owns 38,269 shares of the company’s stock, valued at $9,334,957.17. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in Dollar General by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,741,755 shares of the company’s stock valued at $3,383,907,000 after buying an additional 192,873 shares in the last quarter. State Street Corp lifted its position in Dollar General by 0.5% during the third quarter. State Street Corp now owns 9,075,749 shares of the company’s stock valued at $2,176,909,000 after buying an additional 46,656 shares in the last quarter. FMR LLC lifted its position in Dollar General by 25.5% during the second quarter. FMR LLC now owns 7,002,653 shares of the company’s stock valued at $1,718,731,000 after buying an additional 1,424,310 shares in the last quarter. Morgan Stanley lifted its position in Dollar General by 38.5% during the fourth quarter. Morgan Stanley now owns 4,744,478 shares of the company’s stock valued at $1,168,329,000 after buying an additional 1,318,412 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Dollar General by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,233,760 shares of the company’s stock valued at $1,040,610,000 after buying an additional 50,259 shares in the last quarter. 90.73% of the stock is owned by institutional investors and hedge funds.

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.