State of New Jersey Common Pension Fund D held its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) during the second quarter, Holdings Channel reports. The fund owned 121,000 shares of the company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Dollar Tree were worth $8,460,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in DLTR. Omega Advisors Inc. bought a new stake in shares of Dollar Tree during the first quarter worth $5,885,000. Achmea Investment Management B.V. bought a new stake in shares of Dollar Tree during the first quarter worth $448,000. Ironwood Investment Management LLC boosted its stake in shares of Dollar Tree by 41.5% in the first quarter. Ironwood Investment Management LLC now owns 4,437 shares of the company’s stock worth $348,000 after buying an additional 1,302 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Dollar Tree by 0.4% in the second quarter. State Treasurer State of Michigan now owns 77,810 shares of the company’s stock worth $5,440,000 after buying an additional 300 shares during the period. Finally, Sawtooth Solutions LLC boosted its stake in shares of Dollar Tree by 115.6% in the first quarter. Sawtooth Solutions LLC now owns 13,932 shares of the company’s stock worth $1,093,000 after buying an additional 7,470 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.
Dollar Tree, Inc. (DLTR) opened at 73.08 on Friday. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 20.02 and a beta of 0.68. The stock’s 50 day moving average price is $70.43 and its 200 day moving average price is $75.73. Dollar Tree, Inc. has a 52 week low of $65.63 and a 52 week high of $97.39.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.29 billion. Dollar Tree had a return on equity of 17.68% and a net margin of 4.13%. Dollar Tree’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts predict that Dollar Tree, Inc. will post $4.48 EPS for the current year.
DLTR has been the topic of a number of analyst reports. Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a research report on Monday, April 24th. BidaskClub upgraded Dollar Tree from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Gordon Haskett initiated coverage on Dollar Tree in a research report on Tuesday, May 9th. They issued a “buy” rating and a $98.00 price target on the stock. Loop Capital upgraded Dollar Tree from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $86.00 in a research report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded Dollar Tree from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Dollar Tree has a consensus rating of “Hold” and an average target price of $86.91.
In other news, Director Conrad M. Hall acquired 5,000 shares of Dollar Tree stock in a transaction that occurred on Monday, July 10th. The shares were acquired at an average price of $66.16 per share, for a total transaction of $330,800.00. Following the transaction, the director now directly owns 63,299 shares of the company’s stock, valued at approximately $4,187,861.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lemuel E. Lewis acquired 1,900 shares of Dollar Tree stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $126,730.00. Following the transaction, the director now directly owns 16,404 shares in the company, valued at $1,094,146.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,375 shares of company stock worth $705,819 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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