Dollar General (NYSE:DG) Releases FY 2023 Earnings Guidance

Dollar General (NYSE:DG – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $11.11-$11.32 for the period, compared to the consensus estimate of $11.43. The company issued revenue guidance of $39.93 billion-$40.12 billion, compared to the consensus revenue estimate of $40.07 billion.

Dollar General Trading Down 1.5 %

NYSE:DG opened at $208.83 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.13 and a current ratio of 1.29. Dollar General has a one year low of $183.25 and a one year high of $262.20. The business’s 50-day simple moving average is $226.41 and its 200 day simple moving average is $239.17. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34.

Dollar General (NYSE:DG – Get Rating) last released its quarterly earnings results on Thursday, March 16th. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.94 by $0.02. The business had revenue of $10.20 billion for the quarter, compared to analysts’ expectations of $10.24 billion. Dollar General had a return on equity of 40.63% and a net margin of 6.38%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, sell-side analysts predict that Dollar General will post 11.23 earnings per share for the current fiscal year.

Dollar General Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, April 11th will be issued a $0.59 dividend. This is a positive change from Dollar General’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, April 10th. Dollar General’s payout ratio is currently 20.60%.

Analysts Set New Price Targets

DG has been the subject of several research analyst reports. BMO Capital Markets lowered their price objective on Dollar General from $255.00 to $230.00 in a report on Friday. Telsey Advisory Group reissued an outperform rating and issued a $242.00 price objective on shares of Dollar General in a report on Friday. Raymond James lowered their price objective on Dollar General from $280.00 to $255.00 and set a strong-buy rating for the company in a report on Friday, February 24th. Credit Suisse Group started coverage on Dollar General in a report on Monday, December 19th. They issued a neutral rating and a $260.00 price objective for the company. Finally, JPMorgan Chase & Co. reaffirmed a focus list rating and set a $242.00 target price (down from $289.00) on shares of Dollar General in a report on Thursday, January 19th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $250.50.

Insider Buying and Selling

In related news, Director Warren F. Bryant sold 1,951 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $243.93, for a total value of $475,907.43. Following the completion of the transaction, the director now directly owns 38,269 shares of the company’s stock, valued at approximately $9,334,957.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Dollar General

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DG. D.A. Davidson & CO. grew its holdings in Dollar General by 21.6% in the 1st quarter. D.A. Davidson & CO. now owns 1,034 shares of the company’s stock worth $230,000 after buying an additional 184 shares in the last quarter. Dakota Wealth Management acquired a new stake in Dollar General in the first quarter worth approximately $474,000. Baird Financial Group Inc. lifted its position in Dollar General by 26.3% in the first quarter. Baird Financial Group Inc. now owns 58,834 shares of the company’s stock worth $13,098,000 after purchasing an additional 12,262 shares during the period. Covestor Ltd lifted its position in Dollar General by 156.4% in the first quarter. Covestor Ltd now owns 418 shares of the company’s stock worth $93,000 after purchasing an additional 255 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Dollar General by 17.7% in the first quarter. Mackenzie Financial Corp now owns 71,629 shares of the company’s stock worth $15,947,000 after purchasing an additional 10,773 shares during the period. 90.73% of the stock is owned by institutional investors.

Dollar General Company Profile

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Dollar General Corp. engages in the operation of merchandise stores. Its offerings include food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items. It sells brands including Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg’s, General Mills, and PepsiCo The company was founded by J.