Should You Hold Dollar General Corporation (DG)?
Mawer Investment Management, an asset management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Mawer Investment Management’s International Equity Fund, U.S. Equity Fund, U.S. Mid Cap Equity Fund, Global Equity Fund, Global Small Cap Fund, Emerging Markets Equity Fund, EAFE Large Cap Fund, Canadian Equity Fund and New Canada Fund returned -2.9%, 0.1%, 0.8%, -0.7%, -0.2%, 3.9%, -3.4%, -2.0% and -3.9% respectively. In this quarter, there was a difference in the performance of holdings across the firm’s various portfolios, which could be an indication of the economy's fragility and the vulnerabilities clouding the global growth forecast. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mawer Investment Management highlighted stocks like Dollar General Corporation (NYSE:DG) in the third quarter 2023 investor letter. Headquartered in Goodlettsville, Tennessee, Dollar General Corporation (NYSE:DG) is a discount retailer. On December 20, 2023, Dollar General Corporation (NYSE:DG) stock closed at $128.91 per share. One-month return of Dollar General Corporation (NYSE:DG) was 3.15%, and its shares lost 47.50% of their value over the last 52 weeks. Dollar General Corporation (NYSE:DG) has a market capitalization of $28.295 billion.
Mawer Investment Management made the following comment about Dollar General Corporation (NYSE:DG) in its Q3 2023 investor letter:
"On the other hand, not all businesses were able to hold up well this quarter; certain names were hit by short-term market sentiment and expectations. Dollar General Corporation (NYSE:DG)’s reported lower operating margins, suggesting that the company’s ability to pass along additional price increases appears limited given the pressures facing its customers."
A shopper browsing through a discount retailers merchandise aisle filled with a wide variety of items.
Dollar General Corporation (NYSE:DG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Dollar General Corporation (NYSE:DG) at the end of third quarter which was 57 in the previous quarter.
We discussed Dollar General Corporation (NYSE:DG) in another article and shared Aristotle Atlantic Core Equity Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
