South State Corp increased its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 6.3% in the second quarter, Holdings Channel.com reports. The firm owned 2,935 shares of the company’s stock after purchasing an additional 175 shares during the quarter. South State Corp’s holdings in Dollar Tree were worth $292,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of DLTR. Capital International Investors bought a new stake in Dollar Tree during the 1st quarter worth approximately $301,779,000. BlackRock Inc. grew its stake in shares of Dollar Tree by 12.0% during the 1st quarter. BlackRock Inc. now owns 21,458,443 shares of the company’s stock worth $2,456,133,000 after acquiring an additional 2,293,197 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Dollar Tree by 53,992.3% during the 1st quarter. Bessemer Group Inc. now owns 818,957 shares of the company’s stock worth $93,739,000 after acquiring an additional 817,443 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Dollar Tree by 356.7% during the 1st quarter. Primecap Management Co. CA now owns 1,018,500 shares of the company’s stock worth $116,578,000 after acquiring an additional 795,500 shares in the last quarter. Finally, Intermede Investment Partners Ltd bought a new position in shares of Dollar Tree during the 1st quarter worth approximately $90,718,000. 87.80% of the stock is owned by institutional investors and hedge funds.
In other news, insider Richard L. Mcneely sold 7,635 shares of Dollar Tree stock in a transaction on Monday, June 21st. The stock was sold at an average price of $101.16, for a total transaction of $772,356.60. Following the completion of the sale, the insider now owns 497 shares of the company’s stock, valued at $50,276.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, August 25th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.22. Dollar Tree had a return on equity of 20.78% and a net margin of 5.78%. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.46 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Dollar Tree, Inc. will post 5.53 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on DLTR shares. Bank of America decreased their price target on shares of Dollar Tree from $95.00 to $94.00 and set an “underperform” rating for the company in a research note on Friday, August 27th. Telsey Advisory Group cut shares of Dollar Tree from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $125.00 to $102.00 in a research note on Friday, August 27th. UBS Group decreased their price target on shares of Dollar Tree from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, August 27th. TheStreet cut shares of Dollar Tree from a “b” rating to a “c+” rating in a research note on Thursday, September 2nd. Finally, decreased their target price on shares of Dollar Tree from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Dollar Tree has a consensus rating of “Buy” and a consensus target price of $111.69.
About Dollar Tree
Dollar Tree, Inc owns and operates discount variety stores offering merchandise at the fixed prices. It operates through Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and in Canada.
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