Dollar General Corp. (DG) Trading in Green Following Earnings Report

Consequently, some big names were breaking ground themselves. MD Sass, managed by Martin D. Sass, initiated the most outsized position in Dollar General Corp. (NYSE:DG). MD Sass had $63.8 million invested in the company at the end of the quarter. Josh Resnick’s Jericho Capital Asset Management also initiated a $42.2 million position during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Ben Gambill’s Tiger Eye Capital, and Will Snellings’s Marianas Fund Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Dollar General Corp. (NYSE:DG) but similarly valued. We will take a look at Deere & Company (NYSE:DE), Tyson Foods, Inc. (NYSE:TSN), Applied Materials, Inc. (NASDAQ:AMAT), and Synchrony Financial (NYSE:SYF). All of these stocks’ market caps match DG’s market cap.

As you can see these stocks had an average of 44 hedge funds with bullish positions and the average amount invested in these stocks was $2.47 billion. That figure was $1.11 billion in DG’s case. Synchrony Financial (NYSE:SYF) is the most popular stock in this table. On the other hand Deere & Company (NYSE:DE) is the least popular one with only 30 bullish hedge fund positions. Dollar General Corp. (NYSE:DG) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SYF might be a better candidate to consider a long position.

Disclosure: None