Cornerstone Advisors Inc. cut its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund 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.
A number of other large investors have also added to or reduced their stakes in DLTR. Vanguard Group Inc. boosted its stake in Dollar Tree by 3.3% in the first quarter. Vanguard Group Inc. now owns 21,667,705 shares of the company’s stock worth $1,700,048,000 after buying an additional 688,409 shares during the period. BlackRock Inc. raised its position in shares of Dollar Tree by 1,996.3% in the first quarter. BlackRock Inc. now owns 14,424,151 shares of the company’s stock worth $1,131,717,000 after buying an additional 13,736,060 shares in the last quarter. FMR LLC raised its position in shares of Dollar Tree by 2.2% in the first quarter. FMR LLC now owns 11,584,967 shares of the company’s stock worth $908,957,000 after buying an additional 250,483 shares in the last quarter. State Street Corp raised its position in shares of Dollar Tree by 2.5% in the first quarter. State Street Corp now owns 9,886,212 shares of the company’s stock worth $775,667,000 after buying an additional 239,221 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Dollar Tree by 0.3% in the first quarter. Principal Financial Group Inc. now owns 4,981,951 shares of the company’s stock worth $390,884,000 after buying an additional 16,823 shares in the last quarter. Institutional investors own 91.56% of the company’s stock.
Dollar Tree, Inc. (NASDAQ DLTR) opened at 74.44 on Thursday. The stock has a market cap of $17.62 billion, a P/E ratio of 20.39 and a beta of 0.68. The stock has a 50 day moving average price of $71.11 and a 200 day moving average price of $75.68. Dollar Tree, Inc. has a 52-week low of $65.63 and a 52-week high of $96.40. Dollar Tree also saw unusually large options trading on Tuesday. Stock investors acquired 27,648 call options on the company. This is an increase of approximately 861% compared to the typical daily volume of 2,876 call options.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, May 25th. The company reported $0.98 earnings per share 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 company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter 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, equities research analysts forecast that Dollar Tree, Inc. will post $4.48 EPS for the current year.
DLTR has been the topic of a number of research reports. Deutsche Bank AG reissued a “buy” rating and issued a $95.00 price objective on shares of Dollar Tree in a report on Tuesday, July 4th. BMO Capital Markets set a $88.00 price objective on Dollar Tree and gave the company a “hold” rating in a report on Friday, May 26th. Sanford C. Bernstein reissued an “underperform” rating and issued a $65.00 price objective on shares of Dollar Tree in a report on Friday, June 30th. Johnson Rice raised Dollar Tree from an “accumulate” rating to a “buy” rating in a report on Monday, April 24th. Finally, Loop Capital reissued a “hold” rating and issued a $80.00 price objective on shares of Dollar Tree in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. Dollar Tree has an average rating of “Hold” and an average target price of $86.91.
In other Dollar Tree news, Director Thomas A. Saunders sold 13,660 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $68.75, for a total transaction of $939,125.00. Following the transaction, the director now owns 2,390,881 shares of the company’s stock, valued at approximately $164,373,068.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lemuel E. Lewis purchased 3,475 shares of Dollar Tree stock in a transaction on Friday, June 16th. The shares were acquired at an average cost of $71.45 per share, for a total transaction of $248,288.75. Following the purchase, the director now owns 12,744 shares in the company, valued at $910,558.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,375 shares of company stock worth $705,819. 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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