Pictet Asset Management Ltd. decreased its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 1.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 106,187 shares of the company’s stock after selling 1,600 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Dollar Tree were worth $11,403,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Dollar Tree by 1,394.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 269 shares of the company’s stock worth $29,000 after purchasing an additional 251 shares during the period. Berman Capital Advisors LLC boosted its stake in Dollar Tree by 52.5% in the 1st quarter. Berman Capital Advisors LLC now owns 305 shares of the company’s stock worth $32,000 after purchasing an additional 105 shares during the period. Coastal Investment Advisors Inc. boosted its stake in Dollar Tree by 1,515.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 323 shares of the company’s stock worth $34,000 after purchasing an additional 303 shares during the period. Bremer Bank National Association acquired a new position in Dollar Tree in the 1st quarter worth approximately $45,000. Finally, Commonwealth Bank of Australia boosted its stake in Dollar Tree by 39.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 569 shares of the company’s stock worth $58,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 94.00% of the company’s stock.
DLTR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Dollar Tree from $116.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. BidaskClub raised shares of Dollar Tree from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Credit Suisse Group set a $110.00 price objective on shares of Dollar Tree and gave the stock a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research raised shares of Dollar Tree from a “sell” rating to a “hold” rating and set a $107.00 price objective for the company in a research note on Monday, September 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of Dollar Tree from $113.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Thirteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $105.21.
In related news, insider Gary Maxwell sold 2,800 shares of Dollar Tree stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $107.15, for a total value of $300,020.00. Following the transaction, the insider now owns 7,254 shares in the company, valued at approximately $777,266.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Saunders sold 14,530 shares of Dollar Tree stock in a transaction on Monday, June 24th. The stock was sold at an average price of $111.85, for a total transaction of $1,625,180.50. Following the completion of the transaction, the director now owns 2,391,704 shares in the company, valued at approximately $267,512,092.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,800 shares of company stock worth $3,305,235 in the last 90 days. 1.40% of the stock is owned by insiders.
Shares of NASDAQ:DLTR traded up $0.92 during trading on Friday, reaching $112.86. 1,533,137 shares of the company traded hands, compared to its average volume of 2,394,185. The firm has a fifty day simple moving average of $99.27 and a 200 day simple moving average of $103.48. The firm has a market cap of $26.49 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. Dollar Tree, Inc. has a 1-year low of $78.78 and a 1-year high of $113.38. The company has a quick ratio of 0.21, a current ratio of 1.06 and a debt-to-equity ratio of 1.41.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.20). The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.72 billion. Dollar Tree had a negative net margin of 6.77% and a positive return on equity of 19.76%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. As a group, research analysts anticipate that Dollar Tree, Inc. will post 5.21 EPS for the current year.
Dollar Tree 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 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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