First National Bank of Omaha Increases Dollar General Stock Holdings by $5.64 Million

First National Bank of Omaha has boosted its stake in Dollar General Co. (NYSE:DG) by 23.9% during the third quarter, as reported in its latest Form 13F submission to the Securities & Exchange Commission. Following this increase, the bank now holds 66,736 shares of Dollar General, with the value of its holdings reaching approximately $5,644,000 at the conclusion of the quarter.

More institutional investors have also made adjustments to their positions in Dollar General. For instance, Pzena Investment Management LLC significantly increased its stake by 453.4% during the third quarter, now owning 10,238,886 shares valued at $865,903,000 after acquiring an additional 8,388,735 shares. As for Baupost Group LLC MA, they obtained a new stake in Dollar General valued at $194,832,000. Moreover, Point72 Asset Management L.P. raised its holdings by 148.6% in the previous quarter. State Street Corp. also expanded its position by 8.3%, bringing its total ownership to 9,958,704 shares worth approximately $842,208,000. Additionally, The Manufacturers Life Insurance Company increased its stake by 319.6%, now owning 925,083 shares valued at $122,324,000. It is noteworthy that institutional investors collectively hold 91.77% of Dollar General’s stocks.

Dollar General Stock Performance

On the trading front, Dollar General shares opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22, and a quick ratio of 0.24. Its 50-day moving average stands at $79.52 while its 200-day moving average is at $103.60. Dollar General boasts a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 2.33, and a beta of 0.44. Over the past year, the stock's value has fluctuated between a low of $72.12 and a high of $168.07.

Recent Earnings Announcement

Dollar General last announced its quarterly earnings on December 5th, where it reported earnings per share of $0.89 for the quarter, falling short of analysts' expectations of $0.97 by $0.08. The company recorded a net margin of 3.57% and a return on equity of 20.62%, with revenue reaching $10.18 billion, slightly above the consensus estimate of $10.14 billion. This revenue marks a 5.0% year-over-year increase compared to the same quarter last year, during which the company earned $1.26 per share. Analysts predict Dollar General will post earnings per share of 5.78 for the current fiscal year.

Dividend Declaration

The company also declared a quarterly dividend of $0.59 per share, which is set to be paid on January 21, for shareholders of record on January 7. This annualizes to a dividend of $2.36, yielding 2.89%. The ex-dividend date is also January 7. The current dividend payout ratio is 38.88%.

Analyst Ratings

In recent analyst reports, Gordon Haskett upgraded Dollar General’s rating from "hold" to "strong-buy". Meanwhile, Barclays downgraded its price target from $154.00 to $102.00 while maintaining an "overweight" rating. Wells Fargo reduced its price objective from $90.00 to $80.00 and kept an "equal weight" rating. Citigroup cut its stance from "neutral" to "sell" and lowered its target price from $91.00 to $73.00. Lastly, Morgan Stanley adjusted its rating from "overweight" to "equal weight", with a price target change from $170.00 to $100.00. Currently, there exists one sell rating, fourteen hold ratings, eight buy ratings, and one strong buy rating for the stock, with a consensus rating of "Hold" and a target price of $98.27 according to MarketBeat data.

Insider Transactions

Regarding insider activity, EVP Steven R. Deckard sold 2,010 shares on September 18 at an average price of $86.66, totaling $174,186.60. Post-sale, he retains 2,887 shares valued at approximately $250,187.42, indicating a decrease of 41.05%. Furthermore, Director Warren F. Bryant acquired 1,000 shares on September 10 at an average cost of $80.83, bringing his total holdings to 42,030 shares worth approximately $3,397,284.90, a 2.44% increase. Insider ownership in Dollar General stands at 0.49%.

Company Overview

Dollar General Corporation is a discount retailer operating primarily in the southern, southwestern, midwestern, and eastern regions of the United States, offering a diverse array of consumer products. Their inventory includes cleaning supplies, packaged foods, and perishables like dairy, bread, and frozen foods.

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