Westpac Banking Corp Makes New Investment in Dollar General Corporation $DG

Westpac Banking Corp purchased a new stake in Dollar General Corporation (NYSE:DG) in the second quarter, Holdings Channel reports. The firm purchased 1,063 shares of the company’s stock, valued at approximately $122,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Dollar General during the second quarter valued at approximately $101,000. Sprucegrove Investment Management Ltd. bought a new position in Dollar General in the 2nd quarter worth approximately $4,430,000. AustralianSuper Pty Ltd acquired a new stake in Dollar General in the 2nd quarter valued at approximately $1,042,000. Blair William & Co. IL increased its position in Dollar General by 52.0% in the 2nd quarter. Blair William & Co. IL now owns 5,665 shares of the company’s stock valued at $648,000 after acquiring an additional 1,938 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in Dollar General during the 2nd quarter valued at $293,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DG. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Dollar General in a research note on Friday, August 29th. Piper Sandler upped their price objective on shares of Dollar General from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Evercore ISI lowered their target price on shares of Dollar General from $114.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. The Goldman Sachs Group downgraded shares of Dollar General from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company increased their price objective on shares of Dollar General from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $118.14.

Dollar General Price Performance

Shares of NYSE DG opened at $103.11 on Tuesday. Dollar General Corporation has a twelve month low of $66.43 and a twelve month high of $117.95. The company has a current ratio of 1.25, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $102.36 and a two-hundred day moving average of $105.96. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.10 and a beta of 0.30.

Dollar General (NYSE:DG) last released its earnings results on Thursday, August 28th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.30. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.68 billion. Dollar General had a net margin of 2.86% and a return on equity of 17.97%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 EPS. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. As a group, analysts expect that Dollar General Corporation will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 7th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $2.36 annualized dividend and a dividend yield of 2.3%. Dollar General’s dividend payout ratio (DPR) is currently 43.70%.

Dollar General Company Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.