Published: Fri, December 08, 2017
Money | By Armando Alvarado

Scharf Investments LLC Holds Stake in Dollar Gen Corp New (DG)

Scharf Investments LLC Holds Stake in Dollar Gen Corp New (DG)

(NYSE:DG) by 21.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission.

This likely helped the company net more sales ahead of the disasters, when people stocked up on emergency supplies like flashlights, drinking water and food. Hedge funds and other institutional investors own 89.90% of the company's stock. Parametric Portfolio Associates LLC raised its stake in Dollar General by 363.7% during the 2nd quarter.

The retailer said Hurricanes Harvey and Irma contributed 30-35 basis points to comparable sales growth, while hurting profit by 5 cents per share in the reported quarter. Dollar General still plans to open about 1,285 new stores, as well as remodeling or relocating 760 locations, in fiscal 2017. It also reduced its holding in Schlumberger Ltd (NYSE:SLB) by 69,466 shares in the quarter, leaving it with 1.70M shares, and cut its stake in Cognizant Technology Solutio (NASDAQ:CTSH). 25,297 are owned by Advantus Capital Management Inc. Citigroup raised their target price on Dollar General from $87.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, September 13th. Finally, Emerald Advisers Inc. The stock of Dollar General Corporation (NYSE:DG) earned "Neutral" rating by Goldman Sachs on Tuesday, September 6.

Company value continue to stay above its 200 day MA at 20.06%, and as stocks continue to hit support at $72.63, MA is by definition slow to react to real time price movements. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Several other research firms have also weighed in on DG. Finally, Deutsche Bank upgraded Dollar General from a "hold" rating to a "buy" rating and increased their target price for the stock from $79.00 to $93.00 in a report on Wednesday, November 15th.

Kdi Capital Partners Llc increased Pnc Financial Services Group Inc (NYSE:PNC) stake by 16,474 shares to 87,068 valued at $10.87 million in 2017Q2. UBS reiterated a "buy" rating and set a $99.00 target price (up previously from $85.00) on shares of Dollar General in a report on Monday. The company has a consensus rating of "Hold" and a consensus price target of $82.93. 3,743,000 shares of the company's stock traded hands, compared to its average volume of 2,845,262. The firm has a market capitalization of $24,694.42, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. The company has a current ratio of 1.42, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47. Dollar General Corp. has a 1 year low of $65.97 and a 1 year high of $92.11.

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Dollar General (NYSE:DG) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.94 by ($0.01). In the same period of past year, the retailer said it had EPS of $0.89 and $5.32 billion in revenue. More interesting news about Dollar General Corporation (NYSE:DG) were released by: Bizjournals.com and their article: "Dollar General's surge gets the attention of The Wall Street Journal" published on December 05, 2017 as well as Wsj.com's news article titled: "How Dollar General Became Rural America's Store of Choice" with publication date: December 04, 2017.

Dollar General Corp. can thank the aggressive hurricane season for besting analyst expectations when it comes to same-store sales during the third quarter, which ended Nov 3. Shareholders of record on Tuesday, January 9th will be given a dividend of $0.26 per share.

On the short term liquidity situation, company is in a stable position, and Dollar General Corporation present near term investments and accounts receivable are at 1.4 CR.

Analysts await Dollar General Corporation (NYSE:DG) to report earnings on December, 7 before the open.

Dollar General attributed the decrease to higher markdowns, mainly for promotional activities; a greater proportion of sales of consumables, which generally have a lower gross profit rate than other product categories; and sales of lower-margin products comprising a higher proportion of consumables sales.

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