Keystone Financial Services, a well-known institutional investor, announced that it has reduced its stake in Dollar Tree, Inc. by a substantial margin of 33.3%. That decline comes as part of Keystone’s recent 13F filing with the Securities and Exchange Commission (SEC), which shows the institutional investor now owns just 1,546 shares of the company after selling 773 shares in the fourth quarter. According to this most recent SEC filing, Keystone Financial Services’ holdings in Dollar Tree were worth $232,000 at the time.
Dollar Tree is a company that owns and operates discount stores that offer merchandise at fixed prices. The Company operates through two main segments: Dollar Tree and Family Dollar. The former includes operations under the Dollar Tree and Dollar Tree Canada brands with distribution centers in both countries.
On April 16, 2023, Dollar Tree stock opened at $147.90 on the NASDAQ exchange. The company has a market cap of $32.72 billion, a P/E of 20.51, a P/E of 2.11, and a beta of 0.66 — all metrics that investors frequently check before making investment decisions .
Additionally, according to data from Yahoo Finance, the 50-day simple moving average for Dollar Tree currently stands at $144.98, while the 200-day simple moving average stands at $146.90 – both key indicators of trends over the course of the year Time.
Although Keystone Financial Services reduced its holdings in the company by more than a third in fiscal Q4-2022-23, as of 2022-2023, the as-is is not necessarily indicative of how well-performing or stable stocks are from institutional investors, or even from the general trend sentiment among traders or larger funds; Nonetheless, they are closely watched by market watchers and seen by some as potential red flags if they are insiders or signal a lack of shareholder confidence in the company’s prospects.
It remains to be seen how Dollar Tree, Inc. will fare going forward, particularly given Keystone Financial Services’ decision to reduce its holdings in the company — although investors may be viewing this with additional caution as it is a well-respected institutional investor investor acts – and what impact this might have on its market position and future growth prospects. As always, those considering investing in Dollar Tree should exercise caution and do their research before making any financial decisions.
Institutional Investors and Insider Trading: An Overview of Dollar Tree, Inc.’s Recent Activities
Dollar Tree, Inc. has attracted the attention of a number of institutional investors and hedge funds lately based on changes in their positions in the stock. American National Bank increased its position in Dollar Tree by a staggering 905% in the fourth quarter and now owns 201 shares worth $28,000. Another investor, Alpha Paradigm Partners LLC, acquired a new position in Dollar Tree stock for $35,000 during the third quarter, followed by Fred Alger Management LLC, which acquired a new position in the company’s stock for $37,000 during the same period. CI Investments Inc also increased its position by an impressive 933% in the third quarter of 2022, while Guardian Wealth Advisors LLC acquired a new holding valued at approximately $39,000. Currently, institutional investors and hedge funds are estimated to own about 97.04% of the shares.
In other news, Dollar Tree’s CFO Jeffrey A. Davis and CEO Richard W. Dreiling reported that they acquired shares in the company in separate transactions last month. Mr. Davis purchased 1,790 shares on Monday, March 27th at an average price of $139.06 per share for a total value of $248,917.40, taking his total holdings to over $2 million, while Mr. Dreiling on Thursday, On March 9th, it bought 7,1000 shares at an average price of around $142 per share, completing its acquisition worth over a million dollars.
Dollar Tree released its quarterly results earlier this year with some encouraging numbers being released to shareholders; Earnings per share came in slightly above analysts’ expectations after reporting fiscal 2023 first quarter earnings results of $2.04, compared to a year earlier when fiscal 2022 first quarter earnings were $2.01 each share was reported. This reversal seems to have pleased investors.
Several analysts have rated Dollar Tree’s performance: Gordon Haskett downgraded Dollar Tree’s stock status from “buy” to “accumulate” with a target price of $163.00; Morgan Stanley raised its price target to $150.00 from $145.00 and gave the stock an equal-weight rating; StockNews.com began reporting Dollar Tree and gave it a hold rating, while Credit Suisse reiterated a neutral rating of $150 per share and Barclays began reporting stock issues with an equally weighted rating and set a target of $145.
According to data from Bloomberg, the stock currently has several moderate buy ratings, with all analysts forecasting that the stock is likely to underperform earnings expectations over the next 12 months.
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