Panagora Asset Management Inc. lowered its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 94.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,558 shares of the company’s stock after selling 328,144 shares during the period. Panagora Asset Management Inc.’s holdings in Dollar Tree were worth $1,595,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Dollar Tree by 15.1% in the third quarter. FMR LLC now owns 22,046,619 shares of the company’s stock worth $1,797,902,000 after acquiring an additional 2,890,549 shares during the last quarter. BlackRock Inc. increased its stake in shares of Dollar Tree by 0.4% in the second quarter. BlackRock Inc. now owns 14,726,245 shares of the company’s stock worth $1,251,728,000 after acquiring an additional 64,736 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Dollar Tree by 12.4% in the second quarter. Macquarie Group Ltd. now owns 7,717,972 shares of the company’s stock worth $656,029,000 after acquiring an additional 852,139 shares during the last quarter. Akre Capital Management LLC increased its stake in shares of Dollar Tree by 4.0% in the second quarter. Akre Capital Management LLC now owns 5,032,556 shares of the company’s stock worth $427,767,000 after acquiring an additional 195,691 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Dollar Tree by 2.3% in the second quarter. Northern Trust Corp now owns 2,875,083 shares of the company’s stock worth $244,383,000 after acquiring an additional 63,270 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.
Dollar Tree stock opened at $85.86 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.48 and a current ratio of 2.22. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.65. Dollar Tree, Inc. has a one year low of $78.78 and a one year high of $116.65.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, November 29th. The company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Dollar Tree had a net margin of 7.64% and a return on equity of 17.11%. The firm had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that Dollar Tree, Inc. will post 5.45 EPS for the current fiscal year.
In other news, Director Lemuel E. Lewis purchased 1,210 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $100,127.50. Following the completion of the acquisition, the director now directly owns 20,114 shares of the company’s stock, valued at $1,664,433.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.
A number of equities analysts have recently weighed in on DLTR shares. KeyCorp upped their price target on shares of Dollar Tree from $108.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 17th. Gordon Haskett downgraded shares of Dollar Tree from an “accumulate” rating to a “hold” rating in a research note on Monday, October 15th. Royal Bank of Canada downgraded shares of Dollar Tree from a “top pick” rating to an “outperform” rating and set a $90.00 price target on the stock. in a research note on Tuesday, September 4th. Morgan Stanley dropped their price target on shares of Dollar Tree from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, August 31st. Finally, ValuEngine raised shares of Dollar Tree from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $100.96.
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Dollar Tree Company Profile
Dollar Tree, Inc operates discount variety retail stores in the United States and Canada. 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 products, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; various merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods, which include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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