Dollar Tree Inc. (DLTR) Position Decreased by Concert Wealth Management Inc.
Concert Wealth Management Inc. lowered its position in Dollar Tree Inc. (NASDAQ:DLTR) by 6.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,193 shares of the company’s stock after selling 210 shares during the period. Concert Wealth Management Inc.’s holdings in Dollar Tree were worth $300,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Dollar Tree by 2.4% in the first quarter. Geode Capital Management LLC now owns 1,971,839 shares of the company’s stock worth $162,284,000 after buying an additional 46,847 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Dollar Tree by 0.6% in the first quarter. Pictet Asset Management Ltd. now owns 123,010 shares of the company’s stock worth $9,872,000 after buying an additional 700 shares during the last quarter. UBS Group AG increased its stake in Dollar Tree by 71.3% in the first quarter. UBS Group AG now owns 180,093 shares of the company’s stock worth $14,850,000 after buying an additional 74,974 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Dollar Tree by 940.5% in the first quarter. Canada Pension Plan Investment Board now owns 101,970 shares of the company’s stock worth $8,408,000 after buying an additional 92,170 shares during the last quarter. Finally, Credit Agricole S A increased its stake in Dollar Tree by 226.8% in the first quarter. Credit Agricole S A now owns 573,374 shares of the company’s stock worth $47,280,000 after buying an additional 397,949 shares during the last quarter. Institutional investors own 94.37% of the company’s stock.
Dollar Tree Inc. (NASDAQ:DLTR) traded down 1.46% on Friday, reaching $77.09. The company’s stock had a trading volume of 1,565,135 shares. Dollar Tree Inc. has a 52 week low of $61.33 and a 52 week high of $99.93. The stock’s 50 day moving average is $80.57 and its 200-day moving average is $86.51. The firm has a market capitalization of $18.18 billion, a PE ratio of 25.58 and a beta of 0.54.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the business earned $0.67 earnings per share. Dollar Tree’s quarterly revenue was up 66.0% on a year-over-year basis. Analysts predict that Dollar Tree Inc. will post $3.80 EPS for the current year.
DLTR has been the topic of several recent research reports. Vetr downgraded Dollar Tree from a “buy” rating to a “sell” rating and set a $74.00 price objective on the stock. in a research report on Monday, October 3rd. Barclays PLC initiated coverage on Dollar Tree in a research report on Thursday, September 22nd. They issued an “equal weight” rating and a $88.00 price objective on the stock. Credit Suisse Group AG set a $69.00 price objective on Dollar Tree and gave the company a “sell” rating in a research report on Wednesday, October 5th. Cleveland Research downgraded Dollar Tree from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 4th. Finally, MKM Partners restated a “buy” rating and issued a $104.00 price objective (up from $80.00) on shares of Dollar Tree in a research report on Tuesday, August 23rd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $91.09.
In related news, Director Conrad M. Hall bought 5,000 shares of the business’s stock in a transaction on Monday, August 29th. The shares were bought at an average cost of $85.60 per share, for a total transaction of $428,000.00. Following the completion of the acquisition, the director now directly owns 799 shares in the company, valued at $68,394.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lemuel E. Lewis bought 1,470 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were bought at an average price of $85.00 per share, for a total transaction of $124,950.00. Following the completion of the acquisition, the director now owns 9,469 shares of the company’s stock, valued at $804,865. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.
About Dollar Tree
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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