Raymond James Financial Services Advisors Inc. reduced its stake in Dollar Tree, Inc. (NASDAQ:DLTR – free report) by 41.4% in the first quarter, according to its recent filing on Form 13F with the Securities & Exchange Commission. The institutional investor owned 15,784 shares of the company after selling 11,154 shares during the quarter. Raymond James Financial Services Advisors Inc.’s shares in Dollar Tree were valued at $2,266,000 at the end of the last reporting period.
A number of other major investors have also recently changed their DLTR holdings. Mantle Ridge LP increased its holdings of Dollar Tree stock 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 last quarter. Morgan Stanley increased its holdings of Dollar Tree stock by 95.9% in the fourth quarter. Morgan Stanley now owns 4,383,897 shares of the company’s stock valued at $620,059,000 after purchasing an additional 2,145,910 shares last quarter. Norges Bank bought a new position in Dollar Tree stock worth approximately $273,045,000 during the fourth quarter. The National Bank of Canada FI increased its holdings of Dollar Tree shares by 402.4% during the first quarter. The National Bank of Canada FI now owns 991,336 shares of the company, valued at $142,330,000, after purchasing an additional 793,999 shares last quarter. Finally, Invesco Ltd. its stake in Dollar Tree stock by 69.3% in the first quarter. invesco ltd now owns 1,825,658 shares of the company’s stock valued at $292,377,000 after purchasing an additional 747,162 shares last quarter. Institutional investors own 99.78% of the company’s shares.
Insider buying and selling
In related news, insider Jennifer Hulett sold 1,484 shares of the company’s shares in a transaction on Friday, June 23. The stock sold at an average price of $143.61 for a total transaction of $213,117.24. Following the closing of the transaction, the insider now directly owns 6,825 shares of the company, valued at $980,138.25. The transaction was disclosed in a document filed with the SEC, available at this link. 6.00% of the shares are owned by company insiders.
Dollar Tree price history
Shares of the NASDAQ DLTR opened at $143.54 on Monday. The stock has a market cap of $31.63 billion, a P/E of 23.19, a price-to-earnings-to-growth ratio of 2.22, and a beta of 0.68. Dollar Tree, Inc. has a 52-week low of $128.85 and a 52-week high of $175.68. The company has a debt to equity ratio of 0.38, a short term ratio of 0.28 and a current ratio of 1.51. The stock has a 50-day moving average of $145.39 and a 200-day moving average of $145.79.
Dollar Tree (NASDAQ:DLTR – Free Report) last reported its quarterly results on Thursday, May 25th. The company reported earnings per share of $1.47 for the quarter, falling short of the consensus estimate of $1.54 ($0.07). The company made $7.32 billion in revenue for the quarter, compared to analysts’ expectations of $7.27 billion. Dollar Tree had a net margin of 4.79% and a return on equity of 16.36%. Dollar Tree’s quarterly revenue increased 6.1% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $2.37. Equity analysts expect Dollar Tree, Inc. to report year-to-date earnings per share of 6.01.
Wall Street analysts forecast growth
Several analysts recently commented on the company. In a report on Friday, May 26, Credit Suisse Group lowered its price target on Dollar Tree to $140.00 from $150.00. StockNews.com took over coverage of Dollar Tree in a report on Thursday, May 18th. They rate the stock as “Hold.” Evercore ISI lowered its price target on Dollar Tree to $155.00 from $165.00 in a report on Friday, May 26. Truist Financial lowered its price target on Dollar Tree to $156.00 from $162.00 in a report on Friday, May 26. Finally, in a report on Thursday, June 22, UBS Group raised its price target on Dollar Tree to $175.00 from $165.00. Five research analysts have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $155.93.
About Dollar Tree
(Free Report)
Dollar Tree, Inc operates discount retail stores. The Company operates through two segments: Dollar Tree and Family Dollar. The Dollar Tree segment offers goods at a fixed price of $1.25. It offers consumer goods, including everyday consumables such as household paper and chemicals, groceries, confectionery, health and personal care products, and frozen and chilled groceries. Miscellaneous merchandise including toys, durable housewares, gifts, stationery, party favors, greeting cards, softlines, arts and craft supplies and other items; and seasonal merchandise, including Christmas, Easter, Halloween, and Valentine’s Day items.
further reading
Want to see what other hedge funds are holding DLTR? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Dollar Tree, Inc. (NASDAQ:DLTR – Free Report).
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