Corebridge Financial Inc. Reduces Stake in Dollar General Co. (NYSE:DG)

Corebridge Financial Inc. decreased its holdings in shares of Dollar General Co. (NYSE:DG) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 66,756 shares of the company’s stock after selling 2,525 shares during the quarter. Corebridge Financial Inc.’s holdings in Dollar General were worth $5,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new stake in shares of Dollar General during the 4th quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Dollar General in the third quarter valued at $33,000. Providence First Trust Co acquired a new position in Dollar General in the fourth quarter valued at $33,000. Bogart Wealth LLC grew its holdings in shares of Dollar General by 279.8% during the fourth quarter. Bogart Wealth LLC now owns 490 shares of the company’s stock worth $37,000 after purchasing an additional 361 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Dollar General during the fourth quarter worth about $37,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Dollar General Price Performance

Dollar General stock opened at $86.03 on Friday. The business has a fifty day moving average of $76.12 and a two-hundred day moving average of $77.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.15 and a current ratio of 1.15. The company has a market cap of $18.92 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.44. Dollar General Co. has a one year low of $66.43 and a one year high of $164.12.

Dollar General (NYSE:DG) last announced its quarterly earnings data on Thursday, March 13th. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.51 by $0.17. Dollar General had a net margin of 3.33% and a return on equity of 18.85%. The firm had revenue of $10.30 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter last year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts predict that Dollar General Co. will post 5.75 earnings per share for the current fiscal year.

Dollar General Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Tuesday, April 8th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Tuesday, April 8th. Dollar General’s dividend payout ratio is currently 46.18%.

Insider Buying and Selling

In other news, Director Michael M. Calbert sold 6,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $75.27, for a total value of $451,620.00. Following the completion of the transaction, the director now owns 120,322 shares in the company, valued at $9,056,636.94. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DG has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Dollar General from $79.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Telsey Advisory Group reissued a “market perform” rating and issued a $85.00 price objective on shares of Dollar General in a report on Thursday, March 13th. Gordon Haskett cut shares of Dollar General from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 28th. Morgan Stanley decreased their price target on shares of Dollar General from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Bank of America dropped their price objective on shares of Dollar General from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dollar General has an average rating of “Hold” and an average price target of $92.26.

Dollar General 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.