Weitz Investment Management Inc. cut its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 19.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 275,000 shares of the company’s stock after selling 67,700 shares during the quarter. Dollar Tree comprises about 1.2% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Weitz Investment Management Inc.’s holdings in Dollar Tree were worth $28,886,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Dollar Tree by 5.6% during the first quarter. BlackRock Inc. now owns 19,341,470 shares of the company’s stock worth $2,031,629,000 after buying an additional 1,024,134 shares during the period. Macquarie Group Ltd. lifted its position in Dollar Tree by 15.4% during the fourth quarter. Macquarie Group Ltd. now owns 9,758,673 shares of the company’s stock worth $881,404,000 after buying an additional 1,303,200 shares during the period. Jackson Square Partners LLC lifted its position in Dollar Tree by 55.9% during the first quarter. Jackson Square Partners LLC now owns 6,599,870 shares of the company’s stock worth $693,250,000 after buying an additional 2,367,545 shares during the period. Boston Partners lifted its position in Dollar Tree by 4.9% during the fourth quarter. Boston Partners now owns 3,755,582 shares of the company’s stock worth $339,204,000 after buying an additional 175,027 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Dollar Tree by 50.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,330,523 shares of the company’s stock worth $300,813,000 after buying an additional 1,120,760 shares during the period. Hedge funds and other institutional investors own 94.58% of the company’s stock.
NASDAQ DLTR traded up $1.24 during trading on Friday, hitting $109.90. 72,169 shares of the company traded hands, compared to its average volume of 2,255,171. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.07 and a quick ratio of 0.23. The firm has a market cap of $25.67 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.08 and a beta of 0.52. Dollar Tree, Inc. has a 12 month low of $78.78 and a 12 month high of $111.61.
Several equities analysts recently weighed in on DLTR shares. Raymond James set a $107.00 target price on Dollar Tree and gave the stock a “buy” rating in a research report on Tuesday, February 26th. BidaskClub lowered Dollar Tree from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Telsey Advisory Group restated a “market perform” rating and set a $103.00 price target (up from $90.00) on shares of Dollar Tree in a research note on Thursday, March 7th. Piper Jaffray Companies upped their price target on Dollar Tree to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, Credit Suisse Group upped their price target on Dollar Tree from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $103.72.
In other news, insider Robert H. Rudman sold 4,210 shares of Dollar Tree stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $101.86, for a total value of $428,830.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Jacobs sold 8,672 shares of Dollar Tree stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $107.63, for a total value of $933,367.36. Following the completion of the transaction, the insider now owns 7,733 shares in the company, valued at $832,302.79. The disclosure for this sale can be found here. Insiders sold 58,920 shares of company stock worth $6,155,075 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
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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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