New Wave Wealth Advisors LLC Purchases New Position in Dollar General Co. (NYSE:DG)

New Wave Wealth Advisors LLC purchased a new position in Dollar General Co. (NYSE:DG) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,287 shares of the company’s stock, valued at approximately $173,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Dollar General in the 3rd quarter worth about $33,000. Quarry LP purchased a new stake in Dollar General in the second quarter worth about $46,000. ORG Wealth Partners LLC bought a new position in shares of Dollar General during the third quarter valued at approximately $57,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Dollar General by 37.7% during the third quarter. Bruce G. Allen Investments LLC now owns 792 shares of the company’s stock valued at $67,000 after purchasing an additional 217 shares during the last quarter. Finally, Studio Investment Management LLC boosted its position in shares of Dollar General by 200.4% in the 3rd quarter. Studio Investment Management LLC now owns 850 shares of the company’s stock worth $72,000 after purchasing an additional 567 shares in the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Dollar General Stock Performance

DG opened at $71.08 on Friday. Dollar General Co. has a 12-month low of $66.43 and a 12-month high of $168.07. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 2.14 and a beta of 0.44. The company has a current ratio of 1.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $74.78 and its 200 day moving average is $88.28.

Dollar General (NYSE:DG) last issued its quarterly earnings data on Thursday, December 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.08). Dollar General had a net margin of 3.33% and a return on equity of 18.85%. The business had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm earned $1.26 EPS. The company’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Dollar General Co. will post 5.75 EPS for the current year.

Dollar General Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, January 7th. Dollar General’s dividend payout ratio (DPR) is currently 38.88%.

Insider Activity

In other Dollar General news, Director Michael M. Calbert sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $75.27, for a total transaction of $451,620.00. Following the sale, the director now directly owns 120,322 shares of the company’s stock, valued at $9,056,636.94. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Emily C. Taylor sold 4,740 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $77.44, for a total value of $367,065.60. Following the completion of the transaction, the executive vice president now directly owns 15,575 shares of the company’s stock, valued at approximately $1,206,128. This trade represents a 23.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DG. Morgan Stanley reduced their price objective on Dollar General from $100.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on Dollar General from $97.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. BMO Capital Markets increased their price objective on shares of Dollar General from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Barclays decreased their target price on shares of Dollar General from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, January 9th. Finally, Evercore ISI reduced their price target on shares of Dollar General from $97.00 to $95.00 and set an “in-line” rating for the company in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $96.77.

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.