Kornitzer Capital Management Inc. KS Acquires New Shares in Dollar General Corporation $DG

Kornitzer Capital Management Inc. KS bought a new stake in shares of Dollar General Corporation (NYSE:DG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,078 shares of the company’s stock, valued at approximately $238,000.

Several other hedge funds have also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its position in shares of Dollar General by 4.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 27,567 shares of the company’s stock valued at $2,424,000 after buying an additional 1,102 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of Dollar General during the 1st quarter valued at about $411,000. Golden State Wealth Management LLC grew its stake in shares of Dollar General by 170.1% in the first quarter. Golden State Wealth Management LLC now owns 543 shares of the company’s stock worth $48,000 after acquiring an additional 342 shares during the period. Blair William & Co. IL raised its holdings in shares of Dollar General by 52.0% during the second quarter. Blair William & Co. IL now owns 5,665 shares of the company’s stock valued at $648,000 after purchasing an additional 1,938 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Dollar General by 22.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 42,327 shares of the company’s stock valued at $3,722,000 after purchasing an additional 7,700 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DG shares. Piper Sandler lifted their target price on shares of Dollar General from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Truist Financial upped their price objective on Dollar General from $119.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, August 29th. Guggenheim reissued a “buy” rating and issued a $125.00 target price on shares of Dollar General in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on Dollar General from $95.00 to $109.00 and gave the company a “neutral” rating in a research note on Tuesday, September 16th. Finally, Wolfe Research initiated coverage on shares of Dollar General in a research note on Thursday, September 18th. They issued an “outperform” rating and a $139.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Dollar General presently has a consensus rating of “Hold” and a consensus price target of $115.40.

Dollar General Stock Performance

Shares of DG opened at $101.92 on Monday. Dollar General Corporation has a 52 week low of $66.43 and a 52 week high of $117.95. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.15 and a beta of 0.30. The business has a 50-day simple moving average of $105.49 and a two-hundred day simple moving average of $104.83.

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 company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Dollar General had a net margin of 2.86% and a return on equity of 17.97%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 EPS. Dollar General has set its FY 2025 guidance at 5.800-6.300 EPS. On average, analysts expect that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $2.36 annualized dividend and a yield of 2.3%. Dollar General’s dividend payout ratio is currently 43.70%.

About Dollar General

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.