Commonwealth Equity Services LLC increased its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Get Rating) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,784 shares of the company after purchasing an additional 2,921 shares during the period. Commonwealth Equity Services LLC’s shares in Dollar Tree were valued at $4,495,000 at the end of the last reporting period.
Several other hedge funds have also changed their holdings in the company. Mantle Ridge LP increased its holding in Dollar Tree by 11,365,431.0% during the first quarter. Mantle Ridge LP now owns 11,365,531 shares of the Company’s stock valued at $1,820,190,000 after purchasing an additional 11,365,431 shares during the period. invesco ltd increased its stake in Dollar Tree shares by 69.3% in the first quarter. invesco ltd now owns 1,825,658 shares of the Company, valued at $292,377,000, having purchased an additional 747,162 shares during the period. Capital International Investors increased its stake in Dollar Tree by 18.2% in the first quarter. Capital International Investors now owns 3,562,857 shares of the company’s stock valued at $570,592,000 after purchasing an additional 548,597 shares last quarter. Federated Hermes Inc. increased its position in Dollar Tree by 522.5% in the third quarter. Federated Hermes Inc. now owns 476,189 shares of the company’s stock valued at $64,810,000 after purchasing an additional 399,696 shares during the period. Finally, Eaton Vance Management increased its stake in Dollar Tree by 48.0% in the third quarter. Eaton Vance Management now owns 1,122,174 shares of the company’s stock valued at $152,728,000 after purchasing an additional 363,982 shares last quarter. 97.04% of the shares are owned by institutional investors and hedge funds.
Dollar Tree price history
DLTR stock opened at $155.21 on Friday. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-to-growth ratio of 2.20 and a beta of 0.66. The stock’s 50-day simple moving average is $147.07 and its 200-day simple moving average is $148.52. Dollar Tree, Inc. has a 52-week low of $124.76 and a 52-week high of $175.68. The company has a quick ratio of 0.22, a current ratio of 1.51 and a debt to equity ratio of 0.39.
Dollar Tree (NASDAQ:DLTR – Get Rating) last released its quarterly results on Wednesday, March 1st. The company reported earnings per share of $2.04 for the quarter, beating the consensus estimate of $2.03 by $0.01. The company made $7.72 billion in revenue for the quarter, compared to analysts’ expectations of $7.61 billion. Dollar Tree achieved a return on equity of 19.19% and a net margin of 5.70%. The company’s revenue increased 9.0% year over year. In the same quarter last year, the company generated earnings per share of $2.01. Equity analysts expect Dollar Tree, Inc. to report earnings per share of 6.58 for the current year.
Insiders place their bets
In addition, CFO Jeffrey A. Davis acquired 1,790 shares of the company in a transaction dated Monday, March 27. The stock was acquired at an average price of $139.06 per share for a total transaction of $248,917.40. Following the acquisition, the CFO now directly owns 15,006 shares of the company, valued at approximately $2,086,734.36. The purchase was disclosed in a filing with the SEC, available at this hyperlink. In addition, CFO Jeffrey A. Davis purchased $1,790 of Tree stock in a transaction on Monday, March 27. The shares were purchased at an average price of $139.06 per share for a total transaction of $248,917.40. Following the closing of the acquisition, the chief financial officer now owns 15,006 shares of the company, valued at $2,086,734.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In addition, CEO Richard W. Dreiling acquired 7,100 shares of the company’s shares in a transaction on Thursday, March 9th. Shares were purchased at an average price of $142.00 per share for a total value of $1,008,200.00. Upon completion of the purchase, the CEO now directly owns 7,118 shares of the company, valued at $1,010,756. The disclosure for this purchase can be found here. 6.00% of the shares are currently owned by insiders.
Wall Street analysts are weighing
A number of equity analysts recently commented on the company. Piper Sandler raised her price target on Dollar Tree to $173.00 from $167.00 and gave the stock an overweight rating in a report Tuesday, February 28. StockNews.com began reporting on Dollar Tree in a research note on Thursday, March 16th. They assigned a “hold” rating to the company. Barclays began reporting shares of Dollar Tree in a research note on Tuesday, February 7th. They posted an “equal weight” rating and a price target of $145.00 on the stock. Gordon Haskett downgraded shares of Dollar Tree from a buy to an accumulate rating and set a price target for the company of $163.00. in a report on Tuesday, January 24. Finally, in a report on Thursday, March 2, Morgan Stanley raised its price target on Dollar Tree shares to $150.00 from $145.00 and gave the company an equal weight rating. Five equities research analysts have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $166.67.
Dollar Tree company profile
Dollar Tree, Inc. owns and operates discount specialty stores that offer merchandise at fixed prices. The Company operates through Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under the Dollar Tree and Dollar Tree Canada brands with distribution centers in the United States and Canada.
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