Meeder Asset Management Inc. purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,229 shares of the company’s stock, valued at approximately $156,000.
Several other large investors also recently modified their holdings of DLTR. Omega Advisors Inc. bought a new stake in shares of Dollar Tree during the first quarter valued at $5,885,000. Achmea Investment Management B.V. acquired a new position in Dollar Tree during the first quarter valued at about $448,000. Ironwood Investment Management LLC boosted its position in Dollar Tree by 41.5% in the first quarter. Ironwood Investment Management LLC now owns 4,437 shares of the company’s stock valued at $348,000 after buying an additional 1,302 shares during the last quarter. Vontobel Asset Management Inc. boosted its position in Dollar Tree by 28.0% in the first quarter. Vontobel Asset Management Inc. now owns 1,869,292 shares of the company’s stock valued at $151,340,000 after buying an additional 409,476 shares during the last quarter. Finally, Sawtooth Solutions LLC boosted its position in Dollar Tree by 115.6% in the first quarter. Sawtooth Solutions LLC now owns 13,932 shares of the company’s stock valued at $1,093,000 after buying an additional 7,470 shares during the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Dollar Tree, Inc. (DLTR) opened at 73.50 on Friday. Dollar Tree, Inc. has a 52 week low of $65.63 and a 52 week high of $96.95. The firm has a 50-day moving average price of $70.59 and a 200-day moving average price of $75.72. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 20.14 and a beta of 0.68.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, May 25th. The company reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company 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 revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. On average, equities analysts expect that Dollar Tree, Inc. will post $4.48 earnings per share for the current fiscal year.
DLTR has been the subject of several research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $95.00 price objective on shares of Dollar Tree in a research report on Tuesday, July 4th. BTIG Research reiterated a “buy” rating and issued a $98.00 price objective on shares of Dollar Tree in a research report on Monday, May 22nd. 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 objective for the company. Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a research report on Monday, April 24th. Finally, Loop Capital upgraded Dollar Tree from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $86.00 in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $86.91.
In other Dollar Tree news, Director Lemuel E. Lewis purchased 3,475 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average cost of $71.45 per share, with a total value of $248,288.75. Following the completion of the transaction, the director now owns 12,744 shares of the company’s stock, valued at $910,558.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Saunders sold 13,660 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $68.75, for a total value of $939,125.00. Following the transaction, the director now directly owns 2,390,881 shares in the company, valued at $164,373,068.75. The disclosure for this sale can be found here. Insiders have bought 10,375 shares of company stock worth $705,819 over the last ninety days. 4.10% of the stock is owned by insiders.
About Dollar Tree
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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