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Deutsche Bank Boosts Dollar General (DG) Price Target to $97.00
08 December 2017, 02:18 | Kelvin Horton
US jobs will be in focus on Friday
WINTON GROUP Ltd's holdings in Dollar General were worth $716,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in DG. On a consensus basis, analysts have given a recommendation of 2.50 on company shares.
Vasos estimated that 75% percent of the US population will be within five miles of a Dollar General location by the end of fiscal 2017. Finally, FMR LLC raised its stake in Dollar General by 29.4% during the 2nd quarter. Janus Capital Management LLC now owns 4,024,301 shares of the company's stock valued at $298,080,000 after buying an additional 1,036,189 shares in the last quarter. 25,297 are owned by Advantus Capital Management Inc.
Mutual of America Capital Management LLC boosted its stake in Dollar General Corp. Aperio Ltd Liability Company reported 120,014 shares or 0.05% of all its holdings. Finally, Jackson Square Partners LLC purchased a new position in Dollar General Corp. during the third quarter valued at approximately $229,515,000. Additional openings and remodeling projects will see Dollar General end the current fiscal year on February 2, 2018 having opened a total of 1,285 stores in addition to remodeling or relocating 760 stores. The stock was sold at an average price of $77.00, for a total value of $866,789.00. If the $97.90 price target is reached, the company will be worth $1.27 billion more. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Several research analysts have recently commented on DG shares. The stock has "Hold" rating by Jefferies on Tuesday, August 22. Bank of America restated a "buy" rating and issued a $90.00 price objective on shares of Dollar General in a report on Friday, August 25th. Lpl Fincl Ltd Liability reported 42,288 shares. UBS reiterated a "buy" rating and set a $99.00 target price (up previously from $85.00) on shares of Dollar General in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company's stock. Dollar General Corp. presently has a consensus rating of "Hold" and an average target price of $82.68. Gateway Advisers invested 0.01% in Dollar General Corporation (NYSE:DG). The firm has "Buy" rating given on Thursday, June 1 by RBC Capital Markets. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.42 and a quick ratio of 0.18. Dollar General Corp. has $107 highest and $6200 lowest target. Dollar General Corporation (NYSE:DG) has declined 12.26% since December 7, 2016 and is downtrending.
Net sales rose 11 percent to $5.90 billion, beating estimates of $5.80 billion.
For the 39-week period ended November 3, Dollar General's net sales grew 8.5 percent over the year-ago period to $17.3 billion.
Except for the second quarter, traffic at Dollar General stores declined over the a year ago, partly due to reduced food stamp coverage in several USA states.
Dollar General Corp. said quarterly sales rose at the fastest pace in almost three years, a sign that the discount chain continues to find pockets of cash-strapped consumers by opening hundreds of new stores, many in rural areas. Shareholders of record on Tuesday, January 9th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.42%.
Dollar General has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings.
Comerica Bank lifted its stake in shares of Dollar General Corp. "(DG)" was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this article on another domain, it was illegally copied and republished in violation of worldwide trademark & copyright law.
The retailer is the closest and most convenient general merchant for millions, especially those living in rural areas, GlobalData Retail's Neil Saunders said. This same-store sales increase was attributable to positive results in the consumables, seasonal and apparel categories, partially offset by negative results in the home products category.