Dollar Tree, Inc. (DLTR) Stake Lowered by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board lowered its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 61.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,761 shares of the company’s stock after selling 41,586 shares during the period. Canada Pension Plan Investment Board’s holdings in Dollar Tree were worth $1,801,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased 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 during the last quarter. Nordea Investment Management AB increased 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 valued at $161,420,000 after buying an additional 1,849,314 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $1,700,048,000 after buying an additional 688,409 shares during the last quarter. CI Global Investments Inc. increased 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 valued at $70,656,000 after buying an additional 586,012 shares during the last quarter. Finally, Alliancebernstein L.P. increased 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 valued at $274,095,000 after buying an additional 465,226 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dollar Tree, Inc. (NASDAQ DLTR) opened at 80.39 on Monday. The firm has a 50-day moving average of $72.34 and a 200-day moving average of $75.66. Dollar Tree, Inc. has a 12-month low of $65.63 and a 12-month high of $91.41. The firm has a market cap of $19.04 billion, a P/E ratio of 20.57 and a beta of 0.68.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 24th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.87 by $0.12. Dollar Tree had a net margin of 4.37% and a return on equity of 18.07%. The company had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period last year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts forecast that Dollar Tree, Inc. will post $4.57 earnings per share for the current fiscal year.
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DLTR has been the topic of several research reports. Loop Capital raised Dollar Tree from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $86.00 in a research report on Wednesday, June 28th. Deutsche Bank AG upped their target price on Dollar Tree from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. BTIG Research reissued a “buy” rating and issued a $98.00 target price on shares of Dollar Tree in a research report on Monday, May 22nd. Gordon Haskett initiated coverage on Dollar Tree in a research report on Tuesday, May 9th. They issued a “buy” rating and a $98.00 target price on the stock. Finally, Bank of America Corporation reissued a “buy” rating and issued a $95.00 target price (down from $100.00) on shares of Dollar Tree in a research report on Sunday, May 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. Dollar Tree currently has an average rating of “Hold” and an average price target of $87.38.
In other news, Director Conrad M. Hall bought 5,000 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was bought at an average cost of $66.16 per share, for a total transaction of $330,800.00. Following the completion of the acquisition, the director now directly owns 63,299 shares in the company, valued at approximately $4,187,861.84. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lemuel E. Lewis bought 3,475 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was purchased at an average price of $71.45 per share, with a total value of $248,288.75. Following the completion of the acquisition, the director now owns 12,744 shares of the company’s stock, valued at $910,558.80. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 10,375 shares of company stock valued at $705,819. Corporate insiders own 2.90% of the company’s stock.
Dollar Tree Company Profile
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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