Boltwood Capital Management boosted its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,105 shares of the company’s stock after acquiring an additional 280 shares during the period. Boltwood Capital Management’s holdings in Dollar Tree were worth $1,157,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of DLTR. CX Institutional increased its stake in Dollar Tree by 82.5% during the fourth quarter. CX Institutional now owns 303 shares of the company’s stock valued at $33,000 after acquiring an additional 137 shares during the period. Freedman Financial Associates Inc. bought a new position in Dollar Tree during the fourth quarter valued at about $34,000. Inspire Advisors LLC bought a new position in Dollar Tree during the fourth quarter valued at about $41,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Dollar Tree during the fourth quarter valued at about $43,000. Finally, ADE LLC bought a new position in Dollar Tree during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 88.60% of the company’s stock.
In related news, Director Arnold S. Barron sold 3,978 shares of the company’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $101.47, for a total value of $403,647.66. 1.40% of the stock is currently owned by corporate insiders.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Tuesday, March 2nd. The company reported $2.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.01. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.78 billion. Dollar Tree had a net margin of 3.84% and a return on equity of 19.05%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 EPS. As a group, equities analysts expect that Dollar Tree, Inc. will post 5.64 earnings per share for the current year.
Dollar Tree declared that its board has approved a share buyback program on Wednesday, March 3rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on the company. Bank of America lowered Dollar Tree from a “buy” rating to an “underperform” rating in a research note on Thursday, February 25th. BMO Capital Markets decreased their price objective on Dollar Tree from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, March 10th. Zacks Investment Research raised Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $129.00 price objective on the stock in a report on Tuesday, January 12th. JPMorgan Chase & Co. lifted their price objective on Dollar Tree from $130.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, February 16th. Finally, Royal Bank of Canada decreased their price objective on Dollar Tree from $129.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, March 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $116.11.
Dollar Tree Company Profile
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 personal 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, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.
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