Outgoing Dollar General CFO David Tehle late last week cashed in some of his stock holdings. The 58-year-old, who will step down in a few weeks, exercised about 23,000 options that would have expired between 2022 and 2024, paying between $45 and $58 to do so. He then sold more than 36,000 shares — almost three-fourths of this total holdings — for an average of almost $78 per share. Tehle's take from the transactions was almost $1.7 million.
Shares of Dollar General (Ticker: DG) are up about 1.5 percent to about $77 after RBC Capital's Scott Ciccarelli upgraded the company to 'outperform' from 'sector perform' and lifted his price target to $86 from $82. Ciccarelli's upgrade came a day after Raymond James analyst Dan Wewer hiked his rating on Dollar General by two notches to 'strong buy,' saying the company is poised to crank its revenue growth up a notch. Wewer sees the stock climbing to $90.
Analyst Taposh Bari at Goldman Sachs has cut his rating on shares of Nashville-based Genesco to 'sell from 'neutral' after the company reported its first-quarter numbers. He sees the stock (Ticker: GCO), which was up about 1 percent to $67.33 Thursday afternoon, falling to $57 in the coming year.
Over at UBS, Michael Lasser says things are setting up for Dollar General to have a really good run in the coming quarters as its investments in labor and back-end operations begin to pay off. He has ticked his target for Dollar General (Ticker: DG) to $85 from $84. The stock is changing hands this afternoon at about $75.60.
Analysts at RBC Capital and Telsey Advisory Group have raised their price targets on shares of Dollar General after the retailer reported first-quarter profits that beat expectations. At RBC, Scott Ciccarelli now sees Dollar General (Ticker: DG) climbing to $82 from its Tuesday close of $74.92. His previous target had been $79. Making a similar call at Telsey is Joe Feldman: He now expects Dollar General will hit $83 in the coming quarters, up from his previous target of $80.
Shares of Dollar General started Tuesday trading on a positive note after Goldman Sachs placed the company on its 'conviction buy' list. Analyst Stephen Grambling says the discount retailer will soon get a boost from greater spending by low-income consumers. He sees the stock (Ticker: DG) climbing to $87 from its current level of $74 and change. Grambling's target had been $80.
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