Parametric Portfolio Associates LLC increased its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 657,540 shares of the company’s stock after acquiring an additional 50,560 shares during the period. Parametric Portfolio Associates LLC owned about 0.28% of Dollar Tree worth $70,613,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation N.A. purchased a new stake in Dollar Tree during the 1st quarter valued at $92,000. Belpointe Asset Management LLC grew its position in shares of Dollar Tree by 28.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,620 shares of the company’s stock valued at $171,000 after acquiring an additional 358 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Dollar Tree by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,912 shares of the company’s stock valued at $1,461,000 after acquiring an additional 930 shares during the period. Nelson Roberts Investment Advisors LLC grew its position in shares of Dollar Tree by 12.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 882 shares of the company’s stock valued at $95,000 after acquiring an additional 100 shares during the period. Finally, ETF Managers Group LLC grew its position in shares of Dollar Tree by 639.1% during the 1st quarter. ETF Managers Group LLC now owns 10,140 shares of the company’s stock valued at $1,065,000 after acquiring an additional 8,768 shares during the period. Institutional investors own 94.00% of the company’s stock.
Shares of DLTR traded up $0.34 during midday trading on Friday, hitting $112.28. 76,128 shares of the company traded hands, compared to its average volume of 2,355,524. The firm has a 50 day moving average of $99.14 and a 200-day moving average of $103.40. Dollar Tree, Inc. has a 52 week low of $78.78 and a 52 week high of $113.38. The stock has a market cap of $26.40 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.10 and a beta of 0.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.21 and a current ratio of 1.06.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.20). Dollar Tree had a negative net margin of 6.77% and a positive return on equity of 19.76%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts predict that Dollar Tree, Inc. will post 5.23 earnings per share for the current fiscal year.
In other news, insider Gary Maxwell sold 2,800 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $107.15, for a total transaction of $300,020.00. Following the sale, the insider now directly owns 7,254 shares in the company, valued at approximately $777,266.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas A. Saunders sold 11,470 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $110.52, for a total transaction of $1,267,664.40. Following the sale, the director now owns 2,394,164 shares in the company, valued at $264,603,005.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,800 shares of company stock valued at $3,305,235 in the last three months. Insiders own 1.40% of the company’s stock.
A number of brokerages have recently issued reports on DLTR. Zacks Investment Research raised shares of Dollar Tree from a “sell” rating to a “hold” rating and set a $107.00 price objective for the company in a research report on Monday, September 2nd. Buckingham Research set a $116.00 price objective on shares of Dollar Tree and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Dollar Tree from $116.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Credit Suisse Group set a $110.00 price objective on shares of Dollar Tree and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, ValuEngine downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $105.21.
About Dollar Tree
Dollar Tree, Inc operates discount variety retail stores. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods that include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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