NGAM Advisors L.P. Sells 3,503 Shares of Dollar Tree, Inc. (DLTR)
NGAM Advisors L.P. reduced its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 18.0% during the second quarter, Holdings Channel reports. The fund owned 15,958 shares of the company’s stock after selling 3,503 shares during the period. NGAM Advisors L.P.’s holdings in Dollar Tree were worth $1,116,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in 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 during the period. Nordea Investment Management AB raised its position in Dollar Tree by 888.9% in the first quarter. Nordea Investment Management AB now owns 2,057,360 shares of the company’s stock worth $161,420,000 after buying an additional 1,849,314 shares during the period. Vanguard Group Inc. raised its position 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. CI Global Investments Inc. raised its position in Dollar Tree by 186.3% in the first quarter. CI Global Investments Inc. now owns 900,541 shares of the company’s stock worth $70,656,000 after buying an additional 586,012 shares during the period. Finally, Alliancebernstein L.P. raised its position in Dollar Tree by 15.4% in the first quarter. Alliancebernstein L.P. now owns 3,493,430 shares of the company’s stock worth $274,095,000 after buying an additional 465,226 shares during the period. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Shares of Dollar Tree, Inc. (NASDAQ:DLTR) opened at 74.44 on Thursday. The stock has a 50 day moving average of $71.11 and a 200-day moving average of $75.68. Dollar Tree, Inc. has a one year low of $65.63 and a one year high of $96.40. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 20.39 and a beta of 0.68. Dollar Tree also was the recipient of some unusual options trading on Tuesday. Traders bought 27,648 call options on the company. This represents an increase of 861% compared to the average daily volume of 2,876 call options.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, May 25th. The company reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.29 billion. Dollar Tree had a return on equity of 17.68% and a net margin of 4.13%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. On average, equities analysts expect that Dollar Tree, Inc. will post $4.48 earnings per share for the current year.
A number of equities analysts have recently commented on DLTR shares. Johnson Rice upgraded shares of Dollar Tree from an “accumulate” rating to a “buy” rating in a research report on Monday, April 24th. Gordon Haskett started coverage on shares of Dollar Tree in a research report on Tuesday, May 9th. They issued a “buy” rating and a $98.00 price objective for the company. BTIG Research restated a “buy” rating and issued a $98.00 price objective on shares of Dollar Tree in a research report on Monday, May 22nd. Deutsche Bank AG raised their price objective on shares of Dollar Tree from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, BMO Capital Markets set a $88.00 price objective on shares of Dollar Tree and gave the company a “hold” rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $86.91.
In other news, Director Lemuel E. Lewis bought 3,475 shares of the stock in a transaction dated Friday, June 16th. The stock was purchased at an average cost of $71.45 per share, for a total transaction of $248,288.75. Following the transaction, the director now owns 12,744 shares of the company’s stock, valued at $910,558.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas A. Saunders sold 7,444 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $68.79, for a total value of $512,072.76. Following the transaction, the director now owns 2,390,881 shares of the company’s stock, valued at $164,468,703.99. The disclosure for this sale can be found here. Insiders have bought a total of 10,375 shares of company stock valued at $705,819 over the last quarter. 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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