State of Michigan Retirement System trimmed its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,269 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Dollar Tree were worth $8,135,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in DLTR. Mantle Ridge LP increased its position in Dollar Tree by 11,365,431.0% during the 1st quarter. Mantle Ridge LP now owns 11,365,531 shares of the company’s stock worth $1,820,190,000 after purchasing an additional 11,365,431 shares in the last quarter. Morgan Stanley increased its position in Dollar Tree by 95.9% during the 4th quarter. Morgan Stanley now owns 4,383,897 shares of the company’s stock worth $620,059,000 after purchasing an additional 2,145,910 shares in the last quarter. Norges Bank acquired a new position in Dollar Tree during the 4th quarter worth approximately $273,045,000. Marshall Wace LLP acquired a new position in Dollar Tree during the 2nd quarter worth approximately $160,816,000. Finally, Invesco Ltd. increased its position in Dollar Tree by 69.3% during the 1st quarter. Invesco Ltd. now owns 1,825,658 shares of the company’s stock worth $292,377,000 after purchasing an additional 747,162 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.
Dollar Tree Stock Down 0.4 %
Dollar Tree stock opened at $134.19 on Thursday. The company has a quick ratio of 0.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.47. Dollar Tree, Inc. has a 12-month low of $102.77 and a 12-month high of $161.10. The firm’s fifty day moving average is $138.24 and its 200 day moving average is $126.81. The company has a market capitalization of $29.25 billion, a PE ratio of -29.05, a PEG ratio of 1.28 and a beta of 0.90.
Dollar Tree (NASDAQ:DLTR – Get Free Report) last released its earnings results on Wednesday, March 13th. The company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.12). Dollar Tree had a negative net margin of 3.26% and a positive return on equity of 15.11%. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same quarter in the previous year, the firm earned $2.04 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Dollar Tree, Inc. will post 6.91 EPS for the current fiscal year.
Insider Activity at Dollar Tree
In related news, CFO Jeffrey A. Davis bought 1,800 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were bought at an average price of $136.00 per share, for a total transaction of $244,800.00. Following the transaction, the chief financial officer now directly owns 19,047 shares of the company’s stock, valued at $2,590,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dollar Tree news, Director Daniel J. Heinrich acquired 1,000 shares of the stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $127.85 per share, for a total transaction of $127,850.00. Following the completion of the acquisition, the director now owns 6,225 shares in the company, valued at approximately $795,866.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey A. Davis acquired 1,800 shares of the stock in a transaction on Monday, April 1st. The shares were acquired at an average price of $136.00 per share, for a total transaction of $244,800.00. Following the acquisition, the chief financial officer now owns 19,047 shares of the company’s stock, valued at approximately $2,590,392. The disclosure for this purchase can be found here. 6.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
DLTR has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Dollar Tree from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Guggenheim boosted their target price on shares of Dollar Tree from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. TheStreet lowered shares of Dollar Tree from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. Telsey Advisory Group reissued an “outperform” rating and set a $160.00 target price on shares of Dollar Tree in a report on Thursday, March 14th. Finally, Gordon Haskett lowered shares of Dollar Tree from a “buy” rating to a “hold” rating and reduced their target price for the stock from $150.00 to $140.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.80.
Get Our Latest Stock Report on DLTR
About Dollar Tree
Dollar Tree, Inc operates discount variety retail stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine’s Day merchandise.
Further Reading
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