Securian Asset Management Cuts Stake in Dollar General by 0.9%

Securian Asset Management Inc. has reduced its stake in Dollar General Corporation (NYSE: DG) by 0.9%, as detailed in its recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 100 shares during the second quarter, Securian now holds 11,429 shares of Dollar General, which are valued at approximately $1.3 million.

A number of other significant investors have also adjusted their positions in Dollar General recently. Mountain Hill Investment Partners Corp. increased its holdings by 66.7% in the first quarter, now owning 500 shares valued at $44,000 after acquiring an additional 200 shares. Similarly, Golden State Wealth Management LLC raised its stake by 170.1%, acquiring 342 additional shares to reach a total of 543 shares worth $48,000. Larson Financial Group LLC made a notable increase of 384.3% during the same period, bringing its total to 615 shares valued at $54,000.

Harbor Investment Advisory LLC also expanded its holdings by 35.2% in the second quarter, now owning 492 shares worth $56,000 after purchasing 128 additional shares. Lastly, Bogart Wealth LLC boosted its position by 37.6%, acquiring 184 shares to total 674 shares valued at $59,000. Collectively, hedge funds and other institutional investors own approximately 91.77% of Dollar General’s stock.

Current Market Performance

As of the latest trading session, Dollar General’s stock opened at $102.93, reflecting a 0.6% decline. The company’s 50-day simple moving average stands at $105.70, while its 200-day moving average is at $104.49. Key financial ratios show 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 52-week trading range between a low of $66.43 and a high of $117.95. Dollar General carries a market capitalization of $22.66 billion, a price-to-earnings ratio of 19.06, and a price-to-earnings growth (PEG) ratio of 2.18.

The company also declared a quarterly dividend, which was paid on October 21, 2023. Shareholders of record as of October 7, 2023 received a dividend of $0.59 per share, leading to an annualized dividend of $2.36 and a yield of 2.3%. The dividend payout ratio currently stands at 43.70%.

Analyst Insights

Recent analyses by various research firms have provided mixed perspectives on Dollar General’s stock. On August 29, 2023, Sanford C. Bernstein raised its price target from $122.00 to $134.00, giving the company an “outperform” rating. Morgan Stanley also increased its target from $115.00 to $125.00, maintaining an “equal weight” rating.

Wells Fargo & Company adjusted its price target from $105.00 to $115.00, while Evercore ISI lowered its target from $114.00 to $112.00, issuing an “in-line” rating. Wolfe Research initiated coverage of Dollar General, assigning an “outperform” rating with a price target of $139.00. Currently, one analyst rates the stock as a Strong Buy, eleven analysts as Buy, and sixteen as Hold. According to data from MarketBeat.com, the average rating for Dollar General is “Hold,” with a consensus target price of $115.40.

Dollar General Corporation operates as a discount retailer, providing a diverse range of merchandise primarily in the southern, southwestern, midwestern, and eastern United States. Its offerings include consumable products, packaged foods, and perishables, ensuring a wide array of goods for its customers.