Dollar Tree, Inc. (NASDAQ:DLTR) Position Lowered by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. lowered its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 43.9% during the second quarter, Holdings Channel reports. The firm owned 182,160 shares of the company’s stock after selling 142,701 shares during the period. Pioneer Investment Management Inc.’s holdings in Dollar Tree were worth $12,737,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLTR. Independent Portfolio Consultants Inc. raised its position in Dollar Tree by 90.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the company’s stock worth $124,000 after buying an additional 750 shares during the period. FNY Managed Accounts LLC purchased a new position in Dollar Tree during the first quarter worth approximately $124,000. Citizens Financial Group Inc. RI raised its position in Dollar Tree by 3.1% in the first quarter. Citizens Financial Group Inc. RI now owns 1,584 shares of the company’s stock worth $125,000 after buying an additional 48 shares during the period. Quadrant Capital Group LLC raised its position in Dollar Tree by 8.2% in the first quarter. Quadrant Capital Group LLC now owns 1,769 shares of the company’s stock worth $134,000 after buying an additional 134 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Dollar Tree during the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.
Dollar Tree, Inc. (NASDAQ DLTR) opened at 73.50 on Friday. The company has a market capitalization of $17.40 billion, a P/E ratio of 20.14 and a beta of 0.68. Dollar Tree, Inc. has a 52 week low of $65.63 and a 52 week high of $96.95. The stock’s 50 day moving average is $70.59 and its 200 day moving average is $75.72.
Dollar Tree (NASDAQ:DLTR) last released its earnings results on Thursday, May 25th. The company reported $0.98 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.29 billion. Dollar Tree had a net margin of 4.13% and a return on equity of 17.68%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.89 EPS. On average, equities research analysts expect that Dollar Tree, Inc. will post $4.48 earnings per share for the current year.
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DLTR has been the subject of a number of research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $95.00 price objective on shares of Dollar Tree in a report on Tuesday, July 4th. BTIG Research reaffirmed a “buy” rating and set a $98.00 price objective on shares of Dollar Tree in a report on Monday, May 22nd. Gordon Haskett initiated coverage on shares of Dollar Tree in a report on Tuesday, May 9th. They set a “buy” rating and a $98.00 price objective for the company. Johnson Rice raised shares of Dollar Tree from an “accumulate” rating to a “buy” rating in a report on Monday, April 24th. Finally, Loop Capital raised shares of Dollar Tree from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $86.00 in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Dollar Tree has a consensus rating of “Hold” and an average price target of $86.91.
In other news, Director Thomas A. Saunders sold 7,444 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $68.79, for a total value of $512,072.76. Following the completion of the sale, the director now owns 2,390,881 shares in the company, valued at approximately $164,468,703.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Conrad M. Hall bought 5,000 shares of the stock in a transaction dated Monday, July 10th. The stock was purchased at an average price of $66.16 per share, with a total value of $330,800.00. Following the acquisition, the director now directly owns 63,299 shares in the company, valued at approximately $4,187,861.84. The disclosure for this purchase can be found here. Insiders bought a total of 10,375 shares of company stock valued at $705,819 in the last 90 days. Company insiders own 4.10% of the company’s stock.
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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