Herndon Capital Management LLC cut its stake in shares of Dollar Tree Inc. (NASDAQ:DLTR) by 40.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,136 shares of the company’s stock after selling 7,671 shares during the period. Herndon Capital Management LLC’s holdings in Dollar Tree were worth $1,050,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in DLTR. NN Investment Partners Holdings N.V. purchased a new position in Dollar Tree during the first quarter valued at about $108,000. Citizens Financial Group Inc RI raised its position 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 valued at $127,000 after buying an additional 186 shares during the last quarter. Quadrant Capital Group LLC raised its position in Dollar Tree by 1.8% in the second quarter. Quadrant Capital Group LLC now owns 1,818 shares of the company’s stock valued at $165,000 after buying an additional 33 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Dollar Tree during the first quarter valued at about $202,000. Finally, Train Babcock Advisors LLC purchased a new position in Dollar Tree during the second quarter valued at about $207,000. Institutional investors and hedge funds own 95.01% of the company’s stock.
Dollar Tree Inc. (NASDAQ:DLTR) traded up 0.67% during mid-day trading on Wednesday, hitting $76.76. 1,634,023 shares of the stock traded hands. Dollar Tree Inc. has a 12 month low of $61.33 and a 12 month high of $99.93. The company has a market cap of $18.10 billion, a P/E ratio of 25.47 and a beta of 0.54. The company’s 50 day moving average is $79.97 and its 200 day moving average is $86.43.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Thursday, August 25th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by $0.01. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. On average, analysts expect that Dollar Tree Inc. will post $3.80 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on DLTR. MKM Partners reiterated a “buy” rating and set a $104.00 price objective (up previously from $80.00) on shares of Dollar Tree in a report on Tuesday, August 23rd. Deutsche Bank AG upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating and upped their price objective for the company from $82.00 to $110.00 in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $101.00 price objective on shares of Dollar Tree in a report on Tuesday, September 6th. Finally, Buckingham Research reiterated a “buy” rating and set a $106.00 price objective on shares of Dollar Tree in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $91.09.
In other Dollar Tree news, Director Lemuel E. Lewis bought 1,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $124,950.00. Following the completion of the transaction, the director now owns 9,469 shares of the company’s stock, valued at approximately $804,865. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry W. Sullivan sold 2,449 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $83.21, for a total transaction of $203,781.29. Following the sale, the insider now owns 8,904 shares of the company’s stock, valued at $740,901.84. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
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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