5 Safest Stocks To Invest In

4. Dollar General Corporation (NYSE:DG)

Number of Hedge Fund Holders: 59

Dollar General Corporation (NYSE:DG) is an American discount retailer that provides a range of merchandise products. In times of economic downturns, discount stores tend to see higher traffic and improved returns. On December 1, Dollar General Corporation (NYSE:DG) declared a quarterly dividend of $0.55 per share, in line with previous. The dividend is payable on January 17, 2023 to shareholders of record on January 3. 

On November 29, Deutsche Bank analyst Krisztina Katai raised the price target on Dollar General Corporation (NYSE:DG) to $293 from $265 and maintained a Buy rating on the shares. The analyst told investors to stick with the “winners” in retail.

According to Insider Monkey’s third quarter database, 59 hedge funds were long Dollar General Corporation (NYSE:DG), compared to 51 funds in the earlier quarter. Andreas Halvorsen’s Viking Global held the biggest position in the company, comprising 2.4 million shares worth $582 million. 

Here is what Aristotle Capital specifically said about Dollar General Corporation (NYSE:DG) in its Q2 2022 investor letter:

“Dollar General Corporation (NYSE:DG) contributed to performance in the second quarter following the report of first quarter earnings that were above expectations. Strength in the second quarter was driven by better-than-expected sales of consumable items. Guidance for the remainder of the year was increased. In addition to solid earnings, forecasts for the increasing expectations of a recession drove positive sentiment towards consumer discretionary companies with more predictable revenue like dollar stores.”