Essex Investment Management Co. LLC cut its stake in Dollar Tree Inc. (NASDAQ:DLTR) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 8,592 shares of the company’s stock after selling 113 shares during the period. Essex Investment Management Co. LLC’s holdings in Dollar Tree were worth $810,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new stake in Dollar Tree during the first quarter worth approximately $108,000. Citizens Financial Group Inc RI increased its stake in Dollar Tree by 13.8% in the first quarter. Citizens Financial Group Inc RI now owns 1,536 shares of the company’s stock worth $127,000 after buying an additional 186 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Dollar Tree during the first quarter worth approximately $202,000. Train Babcock Advisors LLC purchased a new stake in Dollar Tree during the second quarter worth approximately $207,000. Finally, Advisor Partners LLC purchased a new stake in Dollar Tree during the first quarter worth approximately $214,000. 94.37% of the stock is owned by institutional investors and hedge funds.
Dollar Tree Inc. (NASDAQ:DLTR) traded down 3.90% during trading on Tuesday, hitting $76.43. The stock had a trading volume of 4,758,493 shares. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 25.36 and a beta of 0.54. Dollar Tree Inc. has a one year low of $60.31 and a one year high of $99.93. The stock’s 50-day moving average is $84.19 and its 200 day moving average is $86.76.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.01. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.08 billion. Dollar Tree had a return on equity of 16.29% and a net margin of 3.50%. The business’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. Equities analysts anticipate that Dollar Tree Inc. will post $3.81 earnings per share for the current year.
A number of research analysts have issued reports on DLTR shares. Vetr downgraded Dollar Tree from a “buy” rating to a “sell” rating and set a $74.00 price target for the company. in a report on Monday. Barclays PLC started coverage on Dollar Tree in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $88.00 price target for the company. MKM Partners reissued a “buy” rating and issued a $104.00 price target (up from $80.00) on shares of Dollar Tree in a report on Tuesday, August 23rd. Citigroup Inc. reissued a “neutral” rating and issued a $89.00 price target (down from $100.00) on shares of Dollar Tree in a report on Wednesday, August 31st. Finally, Atlantic Securities downgraded Dollar Tree from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $87.00 to $68.00 in a report on Tuesday, September 27th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Dollar Tree presently has an average rating of “Hold” and a consensus target price of $91.82.
In related news, Director Conrad M. Hall purchased 5,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was bought at an average cost of $85.60 per share, with a total value of $428,000.00. Following the completion of the acquisition, the director now directly owns 799 shares in the company, valued at approximately $68,394.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lemuel E. Lewis purchased 1,560 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was bought at an average cost of $80.00 per share, with a total value of $124,800.00. Following the completion of the acquisition, the director now owns 11,029 shares of the company’s stock, valued at $882,320. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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