Conning Inc. boosted its position in shares of Dollar Tree Inc. (NASDAQ:DLTR) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,536 shares of the company’s stock after buying an additional 130 shares during the period. Conning Inc.’s holdings in Dollar Tree were worth $522,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. PGGM Investments increased its stake in Dollar Tree by 1.3% in the second quarter. PGGM Investments now owns 177,948 shares of the company’s stock worth $16,770,000 after buying an additional 2,316 shares during the last quarter. Bank of Montreal Can purchased a new stake in Dollar Tree during the second quarter worth $26,437,000. MSI Financial Services Inc increased its stake in Dollar Tree by 24.8% in the second quarter. MSI Financial Services Inc now owns 7,469 shares of the company’s stock worth $704,000 after buying an additional 1,485 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Dollar Tree by 5.5% in the second quarter. Daiwa Securities Group Inc. now owns 5,720 shares of the company’s stock worth $539,000 after buying an additional 300 shares during the last quarter. Finally, Sanders Morris Harris Inc. purchased a new stake in Dollar Tree during the second quarter worth $424,000. Institutional investors and hedge funds own 94.37% of the company’s stock.
Shares of Dollar Tree Inc. (NASDAQ:DLTR) traded up 2.03% during mid-day trading on Friday, hitting $78.93. The stock had a trading volume of 4,124,962 shares. The stock has a market cap of $18.61 billion, a P/E ratio of 26.19 and a beta of 0.43. The company’s 50 day moving average is $85.24 and its 200-day moving average is $86.72. Dollar Tree Inc. has a 52-week low of $60.31 and a 52-week high of $99.93.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The firm’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts anticipate that Dollar Tree Inc. will post $3.81 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Vetr downgraded Dollar Tree from a “strong-buy” rating to a “buy” rating and set a $86.00 price target on the stock. in a research report on Tuesday. Atlantic Securities downgraded Dollar Tree from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $87.00 to $68.00 in a report on Tuesday. Barclays PLC started coverage on Dollar Tree in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $88.00 price objective on the stock. Jefferies Group reiterated a “hold” rating on shares of Dollar Tree in a report on Monday, September 12th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $101.00 price objective on shares of Dollar Tree in a report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $92.36.
In related news, insider Barry W. Sullivan sold 2,449 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $83.21, for a total value of $203,781.29. Following the sale, the insider now directly owns 8,904 shares of the company’s stock, valued at approximately $740,901.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Saunders sold 5,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $95.50, for a total transaction of $477,500.00. Following the completion of the sale, the director now directly owns 2,310,387 shares in the company, valued at $220,641,958.50. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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