Lord Abbett & CO. LLC trimmed its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 87,780 shares of the company’s stock after selling 6,041 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Dollar Tree were worth $6,138,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Dollar Tree by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,359,098 shares of the company’s stock worth $1,563,349,000 after acquiring an additional 691,393 shares during the last quarter. FMR LLC raised its holdings in Dollar Tree by 49.4% during the 2nd quarter. FMR LLC now owns 17,309,462 shares of the company’s stock valued at $1,210,277,000 after buying an additional 5,724,495 shares during the last quarter. BlackRock Inc. raised its holdings in Dollar Tree by 10.3% during the 2nd quarter. BlackRock Inc. now owns 15,904,087 shares of the company’s stock valued at $1,112,013,000 after buying an additional 1,479,936 shares during the last quarter. Maverick Capital Ltd. raised its holdings in Dollar Tree by 86.7% during the 2nd quarter. Maverick Capital Ltd. now owns 8,135,605 shares of the company’s stock valued at $568,842,000 after buying an additional 3,777,579 shares during the last quarter. Finally, Standard Life Investments LTD raised its holdings in Dollar Tree by 13.9% during the 2nd quarter. Standard Life Investments LTD now owns 5,085,240 shares of the company’s stock valued at $355,610,000 after buying an additional 621,164 shares during the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.
In related news, insider William A. Old, Jr. sold 1,487 shares of Dollar Tree stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $91.50, for a total value of $136,060.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Macon F. Brock, Jr. sold 63,000 shares of Dollar Tree stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $91.04, for a total value of $5,735,520.00. The disclosure for this sale can be found here. Insiders sold 101,449 shares of company stock valued at $9,139,337 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
Shares of Dollar Tree, Inc. (DLTR) opened at 93.21 on Monday. Dollar Tree, Inc. has a 52-week low of $65.63 and a 52-week high of $93.68. The stock has a market capitalization of $22.08 billion, a P/E ratio of 23.84 and a beta of 0.70. The stock has a 50 day moving average of $87.79 and a 200-day moving average of $78.69.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Thursday, August 24th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.12. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Analysts predict that Dollar Tree, Inc. will post $4.68 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Loop Capital reiterated a “buy” rating and set a $86.00 price target on shares of Dollar Tree in a report on Wednesday, August 9th. Buckingham Research reiterated a “buy” rating and set a $87.00 price target on shares of Dollar Tree in a report on Wednesday, August 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $85.00 price target on shares of Dollar Tree in a report on Friday, September 29th. Finally, Telsey Advisory Group upped their price target on shares of Dollar Tree from $88.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Dollar Tree presently has a consensus rating of “Buy” and a consensus target price of $90.14.
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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