First National Bank of Omaha Increases Investment in Dollar General

First National Bank of Omaha has raised its investment in Dollar General Co. (NYSE:DG) by 23.9% during the third quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission (SEC). The bank now holds 66,736 shares of Dollar General's stock after purchasing an additional 12,863 shares during the quarter. At the close of this period, First National Bank of Omaha's stake in Dollar General was valued at approximately $5.64 million.

In addition to First National Bank of Omaha, several other investment firms have also adjusted their positions in Dollar General. Pzena Investment Management LLC significantly increased its holdings by 453.4%, now owning over 10.2 million shares valued at about $865.9 million after acquiring an additional 8.4 million shares. Meanwhile, Baupost Group LLC MA initiated a new investment in Dollar General, valued at approximately $194.8 million.

Point72 Asset Management L.P. also made notable increases to its shares, growing its holding by 148.6% in the previous quarter with a total of 1.28 million shares worth around $169.3 million. Similarly, State Street Corp raised its stake in Dollar General by 8.3%, owning nearly 10 million shares valued at $842.2 million. The Manufacturers Life Insurance Company also expanded its position by 319.6%, amassing 925,083 shares valued at $122.3 million. Overall, institutional investors collectively own about 91.77% of Dollar General's shares.

Current Stock Performance of Dollar General

As of the latest trading session, shares of Dollar General opened at $81.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.22, and a quick ratio of 0.24. The stock's 50-day moving average stands at $79.52 while its 200-day moving average is at $103.60. With a market capitalization of $17.94 billion, Dollar General has a price-to-earnings ratio of 13.44 and a price-to-earnings growth (PEG) ratio of 2.33. The stock has seen a low of $72.12 and a high of $168.07 in the past year.

Review of Dollar General's Quarterly Earnings

Dollar General recently released its quarterly earnings on December 5th, reporting earnings of $0.89 per share. This fell short of analysts' expectations, which had forecasted earnings of $0.97. The company's net margin was 3.57% with a return on equity of 20.62%. It generated revenue of $10.18 billion, slightly exceeding the expected $10.14 billion, and marked a 5.0% increase in revenue compared to the same quarter last year.

Dividend Declaration Announcement

The company has also announced a quarterly dividend of $0.59, set to be paid on January 21st to shareholders recorded by January 7th. This annualizes to $2.36 per share, representing a yield of 2.89%. The ex-dividend date is January 7th. Currently, Dollar General's dividend payout ratio stands at 38.88%.

Analyst Opinions on Dollar General

Analysts have varied opinions on Dollar General’s stock. Recently, Gordon Haskett upgraded the company from a "hold" to a "strong-buy." Conversely, Barclays reduced its price target from $154 to $102, rating the stock as "overweight." Wells Fargo lowered its price target from $90 to $80, with a rating of "equal weight," while Citigroup downgraded the stock from "neutral" to "sell," with a target price dropping from $91 to $73. According to various analysts, the consensus rating for Dollar General remains at "Hold" with a target price around $98.27.

Insider Trading Activities

In related news, Steven R. Deckard, an executive vice president at Dollar General, sold 2,010 shares at an average price of $86.66 each, totaling $174,186.60. After this transaction, he retains 2,887 shares currently valued at about $250,187.42, which marks a 41.05% decrease in his holding. Additionally, Director Warren F. Bryant purchased 1,000 shares at $80.83 each, totaling $80,830.00, leading to a 2.44% increase in his ownership.

Dollar General Overview

Dollar General Corporation is a major discount retailer in the United States, offering a broad range of products including consumables such as cleaning supplies and packaged food, as well as perishables like milk and eggs. It serves regions throughout the South, Southwest, Midwest, and East Coast of the country.

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