Securian Asset Management Inc. has decreased its stake in Dollar General Corporation (NYSE: DG) by 0.9% during the second quarter of 2023. According to its recent Form 13F filing with the Securities and Exchange Commission (SEC), Securian now holds 11,429 shares, having sold 100 shares during the quarter. The value of its remaining holdings is approximately $1.307 million.
Several other institutional investors have also adjusted their positions in Dollar General recently. Notably, Mountain Hill Investment Partners Corp. increased its holdings by 66.7% in the first quarter, now owning 500 shares valued at $44,000 after purchasing an additional 200 shares. Similarly, Golden State Wealth Management LLC raised its stake by 170.1%, acquiring 543 shares worth $48,000 after adding 342 shares during the same quarter.
Larson Financial Group LLC saw a significant increase of 384.3%, now holding 615 shares valued at $54,000 after buying 488 additional shares. Harbor Investment Advisory LLC also expanded its position by 35.2%, owning 492 shares worth $56,000 following the acquisition of 128 shares. Lastly, Bogart Wealth LLC boosted its holdings by 37.6%, owning 674 shares valued at $59,000 after purchasing an extra 184 shares. Currently, hedge funds and institutional investors hold 91.77% of Dollar General’s stock.
Dollar General’s stock experienced a slight decline of 0.6%, opening at $102.93 on the recent trading day. The company’s 50-day simple moving average stands at $105.70, while the 200-day simple moving average is $104.49. The company has a quick ratio of 0.27, a current ratio of 1.25, and a debt-to-equity ratio of 0.71. Over the past year, Dollar General’s stock has fluctuated between a low of $66.43 and a high of $117.95. With a market capitalization of $22.66 billion, the company has a price-to-earnings (P/E) ratio of 19.06 and a PEG ratio of 2.18.
Dividend Announcement and Analyst Insights
In addition to its recent stock activity, Dollar General announced a quarterly dividend of $0.59 per share, which was paid on October 21, 2023. Shareholders who were on record as of October 7, 2023 received this dividend, representing an annualized amount of $2.36 and a yield of 2.3%. The company’s dividend payout ratio currently stands at 43.70%.
Analysts have also weighed in on Dollar General’s performance. Sanford C. Bernstein revised its price target for the stock from $122.00 to $134.00 and rated it as “outperform” in a report dated August 29, 2023. Morgan Stanley similarly increased its price target from $115.00 to $125.00, maintaining an “equal weight” rating. Wolfe Research initiated coverage with an “outperform” rating and set a price target of $139.00.
Wells Fargo & Company raised its target from $105.00 to $115.00, while Evercore ISI reduced its target from $114.00 to $112.00 with an “in-line” rating. Currently, one analyst has given a “Strong Buy” rating, eleven have issued “Buy” ratings, and sixteen have assigned a “Hold” rating to the stock. According to data from MarketBeat.com, Dollar General holds an average rating of “Hold” with an average target price of $115.40.
Dollar General Corporation operates as a discount retailer in the southern, southwestern, midwestern, and eastern United States. The company offers a variety of merchandise, including consumable products like paper goods and cleaning supplies, packaged foods, and perishables such as dairy, bread, and frozen items.
For insights into the latest developments involving Dollar General and to track institutional holdings, investors can refer to platforms like HoldingsChannel.com, which provides updated 13F filings and insider trading information.
