Cornerstone Advisors Inc. decreased its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 1,638 shares of the company’s stock after selling 57 shares during the period. Cornerstone Advisors Inc.’s holdings in Dollar Tree were worth $115,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of DLTR. Meristem LLP increased its position in Dollar Tree by 0.3% in the first quarter. Meristem LLP now owns 4,520 shares of the company’s stock worth $355,000 after buying an additional 14 shares in the last quarter. IFC Holdings Incorporated FL increased its position in Dollar Tree by 0.3% in the first quarter. IFC Holdings Incorporated FL now owns 4,797 shares of the company’s stock worth $377,000 after buying an additional 15 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Dollar Tree by 0.5% in the first quarter. Wetherby Asset Management Inc. now owns 6,621 shares of the company’s stock worth $519,000 after buying an additional 35 shares in the last quarter. Citizens Financial Group Inc. RI increased 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 in the last quarter. Finally, Mirador Capital Partners LP increased its position in Dollar Tree by 1.5% in the first quarter. Mirador Capital Partners LP now owns 3,731 shares of the company’s stock worth $293,000 after buying an additional 56 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.
Dollar Tree, Inc. (NASDAQ DLTR) traded down 0.61% during mid-day trading on Friday, hitting $71.80. The stock had a trading volume of 1,750,915 shares. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 19.67 and a beta of 0.68. Dollar Tree, Inc. has a 12-month low of $65.63 and a 12-month high of $99.93. The company has a 50-day moving average of $70.05 and a 200-day moving average of $75.95.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. Dollar Tree had a return on equity of 17.68% and a net margin of 4.13%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company posted $0.89 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts anticipate that Dollar Tree, Inc. will post $4.45 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on the company. Deutsche Bank AG restated a “buy” rating and set a $95.00 price target on shares of Dollar Tree in a research note on Tuesday, July 4th. Royal Bank Of Canada set a $95.00 price target on Dollar Tree and gave the stock a “buy” rating in a research note on Monday, April 3rd. Citigroup Inc. restated a “neutral” rating and set a $86.00 price target (up previously from $85.00) on shares of Dollar Tree in a research note on Sunday, June 11th. Atlantic Securities upgraded Dollar Tree from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $88.00 price target on Dollar Tree and gave the stock a “hold” rating in a research note on Friday, May 26th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. Dollar Tree presently has a consensus rating of “Hold” and an average target price of $87.57.
In other news, Director Lemuel E. Lewis purchased 1,900 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was purchased at an average cost of $66.70 per share, with a total value of $126,730.00. Following the purchase, the director now owns 16,404 shares in the company, valued at approximately $1,094,146.80. 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 13,660 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $68.75, for a total value of $939,125.00. Following the transaction, the director now directly owns 2,390,881 shares of the company’s stock, valued at $164,373,068.75. The disclosure for this sale can be found here. Insiders purchased a total of 10,375 shares of company stock valued at $705,819 over the last three months. Corporate 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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