BMO Capital Markets Raises Price Target for Dollar General

BMO Capital Markets has increased its price target for Dollar General (NYSE:DG) from $80.00 to $84.00, as reported in a research note released on Friday. The new target translates to a potential upside of approximately 3.38% based on the stock's most recent closing price. Along with the price adjustment, BMO Capital Markets has maintained a "market perform" rating on the retail giant's stock.

Recent Research Reports on Dollar General

Dollar General has been under review from several other financial institutions recently as well. Raymond James downgraded their target price for the company from $150.00 to $120.00, while issuing an "outperform" rating on August 30th. Morgan Stanley also reviewed the stock at that time, shifting their rating from "overweight" to "equal weight" and reducing their target price from $170.00 to $100.00.

Additionally, Melius Research began coverage of Dollar General in late September, setting a "hold" rating with a target price of $85.00. In another report, Wells Fargo decreased the target price from $90.00 to $80.00 but maintained an "equal weight" rating. Conversely, Gordon Haskett recently upgraded Dollar General from a "hold" to a "strong buy" on November 8th. Analysts have given a mixed bag of ratings overall, with one sell rating, fourteen hold ratings, eight buy ratings, and one strong buy rating. The overall consensus rating is currently "Hold" based on analysts' evaluations, with an average target price of around $98.27.

Dollar General Stock Performance

As of Friday, shares of Dollar General were trading up by $1.65, reaching $81.25. The stock has traded a volume of 3,502,683 shares during the day, which is higher than its historical average of 3,272,829 shares. Over the past year, the stock saw a low of $72.12 and a high of $168.07. The moving averages stand at $79.63 for the past 50 days and $104.26 for the 200-day average. The company has a market capitalization of $17.87 billion and a P/E ratio of 12.62.

Recent Earnings Results

Dollar General has recently reported its quarterly earnings on December 5th, announcing earnings per share (EPS) of $0.89. This missed the analysts' consensus estimate of $0.97 by $0.08. The company achieved revenue of $10.18 billion for the quarter, slightly surpassing the expected $10.14 billion. Compared to the same quarter last year, the revenue rose by 5%.

Insider Activity

In recent insider news, Director Warren F. Bryant purchased 1,000 shares of Dollar General on September 10th at an average price of $80.83 per share, totaling $80,830. Following this transaction, he now owns 42,030 shares, valued at around $3.4 million. On the other hand, EVP Steven R. Deckard sold 2,010 shares on September 18th for an average price of $86.66, indicating a decrease in his holding. Corporate insiders currently own about 0.49% of the company's stock.

Institutional Trading Activity

Institutional investors have shown increased interest in Dollar General recently. Franklin Resources Inc. raised its shares by 17.6%, acquiring an additional 10,333 shares. Other notable transactions include Tidal Investments LLC, which increased its holdings by 25.4% and Anchor Investment Management LLC boosting their position by 8.3%. Overall, about 91.77% of Dollar General's shares are reportedly held by institutional investors.

About Dollar General

Dollar General Corporation operates as a discount retailer across the southern, southwestern, midwestern, and eastern United States. The company offers a wide range of products, including consumables, packaged foods, and perishables, catering to budget-conscious customers.

Dollar, General, BMO