{"id":57614,"date":"2022-09-03T08:00:15","date_gmt":"2022-09-03T12:00:15","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=57614"},"modified":"2022-09-02T10:40:31","modified_gmt":"2022-09-02T14:40:31","slug":"chart-spotlight-dollar-general-dg","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2022\/09\/chart-spotlight-dollar-general-dg\/","title":{"rendered":"Chart Spotlight: Dollar General (DG)"},"content":{"rendered":"

Investors may want to keep an eye on discount retailers, like Dollar General (DG)<\/a>.<\/p>\n

For one, the latest pullback may be a great buy opportunity.<\/p>\n

If you take a look at this chart, you\u2019ll notice that Williams\u2019 %R, Fast Stochastics, and RSI are all starting to pivot well off oversold conditions. With patience, I\u2019d like to see the Dollar General stock retest $260 resistance, near-term from $241.65 support.<\/p>\n

<\/div>\n

\"DG<\/a>
\n

Source: MarketClub<\/a><\/em><\/center><\/small><\/p>\n

Two, while other major retailers take a hit with inflation, Dollar General is rising because of inflation. In fact, we can see that with the company\u2019s recent earnings report.
\n\u00a0
\nNot only did Dollar General report second quarter EPS of $2.98, which was better than the expected $2.94 a share, sales were up to $9.4 billion, same-store sales were up 4.6% as compared to expectations for 3.9%.\u00a0The company even increased its same-store sales forecast to a range of 4% to 4.5% for the fiscal year, from a prior call for 3% to 3.5%.<\/p>\n

Three, wealthier people are now shopping at dollar stores because of inflation.<\/p>\n

According to Business Insider, Todd Vasos, CEO of Dollar General, said on a call with analysts that the store saw a rise in higher-income households shopping there, \"which we believe reflects more consumers choosing Dollar General as they seek value.\"<\/p>\n

Plus, we have to realize consumers are \u201ctrying to make ends meet, and when you have limited funds in your wallet, the dollar stores provide the ability to do that,\u201d added Joseph Feldman, a senior analyst at Telsey Advisory Group, as quoted by The New York Times.<\/p>\n

In addition, analysts seem to like the DG stock, as well.
\n\u00a0
\nGuggenheim analyst John Heinbockel reiterated a buy on the stock.\u00a0Piper Sandler raised its price target on DG to $273 from $265.\u00a0Raymond James raised its target price to $285 from $160.\u00a0Morgan Stanley raised its target to $270 from $250.\u00a0Deutsche Bank says Dollar General is one of the few stable retailers.\u00a0\u00a0<\/p>\n

<\/div>\n

Plus, Dollar General will also pay a dividend shortly.
\n\u00a0
\nOn August 23, 2022, the Company\u2019s Board of Directors declared a quarterly cash dividend of $0.55 per share on the Company\u2019s common stock, payable on or before October 18, 2022 to shareholders of record on October 4, 2022.\u00a0<\/p>\n

All things considered, investors may want to use recent DG weakness as an opportunity.<\/p>\n

Ian Cooper
\nINO.com Contributor<\/p>\n

The above analysis of Dollar General (DG) was provided by financial writer Ian Cooper. Ian Cooper is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Ian Cooper expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Investors may want to keep an eye on discount retailers, like Dollar General (DG). For one, the latest pullback may be a great buy opportunity. If you take a look at this chart, you\u2019ll notice that Williams\u2019 %R, Fast Stochastics, and RSI are all starting to pivot well off oversold conditions. With patience, I\u2019d like […]<\/p>\n","protected":false},"author":42,"featured_media":57616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[31732,31813,4904,325],"class_list":["post-57614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-chart-spotlight","tag-dg","tag-dollar-general","tag-marketclub"],"yoast_head":"\nChart Spotlight: Dollar General (DG) - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"Investors may want to keep an eye on discount retailers, like Dollar General (DG) - the latest pullback may be a great buy opportunity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2022\/09\/chart-spotlight-dollar-general-dg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Spotlight: Dollar General (DG) - 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