Dollar Tree, Inc. (DLTR) Position Increased by FNY Managed Accounts LLC
FNY Managed Accounts LLC increased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 63.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,600 shares of the company’s stock after buying an additional 1,010 shares during the period. Dollar Tree accounts for 1.8% of FNY Managed Accounts LLC’s holdings, making the stock its 18th biggest position. FNY Managed Accounts LLC’s holdings in Dollar Tree were worth $181,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Omega Advisors Inc. purchased a new stake in Dollar Tree during the first quarter worth $5,885,000. Prudential Financial Inc. raised its position in Dollar Tree by 8.4% during the second quarter. Prudential Financial Inc. now owns 358,085 shares of the company’s stock worth $25,037,000 after acquiring an additional 27,672 shares during the period. Achmea Investment Management B.V. acquired a new position in Dollar Tree during the first quarter worth $448,000. Ironwood Investment Management LLC raised its position in Dollar Tree by 41.5% during the first quarter. Ironwood Investment Management LLC now owns 4,437 shares of the company’s stock worth $348,000 after acquiring an additional 1,302 shares during the period. Finally, State Treasurer State of Michigan raised its position in Dollar Tree by 0.4% during the second quarter. State Treasurer State of Michigan now owns 77,810 shares of the company’s stock worth $5,440,000 after acquiring an additional 300 shares during the period. 90.76% of the stock is currently owned by hedge funds and other institutional investors.
Dollar Tree, Inc. (NASDAQ:DLTR) traded up 0.43% during midday trading on Monday, reaching $83.19. 1,255,056 shares of the company traded hands. The firm has a market capitalization of $19.70 billion, a PE ratio of 21.28 and a beta of 0.68. Dollar Tree, Inc. has a 12 month low of $65.63 and a 12 month high of $91.41. The company’s 50-day moving average price is $75.84 and its 200 day moving average price is $75.81.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 24th. The company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.12. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Dollar Tree, Inc. will post $4.66 earnings per share for the current year.
A number of equities analysts have weighed in on DLTR shares. BTIG Research restated a “buy” rating and set a $98.00 price objective on shares of Dollar Tree in a research report on Monday, May 22nd. Deutsche Bank AG upped their price objective on shares of Dollar Tree from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. BMO Capital Markets set a $88.00 price objective on shares of Dollar Tree and gave the stock a “hold” rating in a research report on Friday, May 26th. Bank of America Corporation restated a “buy” rating and set a $95.00 price objective (down from $100.00) on shares of Dollar Tree in a research report on Sunday, May 28th. Finally, Citigroup Inc. restated a “neutral” rating and set a $86.00 price objective (up from $85.00) on shares of Dollar Tree in a research report on Sunday, June 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. Dollar Tree presently has a consensus rating of “Hold” and a consensus price target of $88.04.
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In other news, Director Conrad M. Hall bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was acquired at an average price of $66.16 per share, with a total value of $330,800.00. Following the completion of the purchase, the director now directly owns 63,299 shares of the company’s stock, valued at approximately $4,187,861.84. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Lemuel E. Lewis bought 1,900 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average cost of $66.70 per share, with a total value of $126,730.00. Following the purchase, the director now directly owns 16,404 shares of the company’s stock, valued at $1,094,146.80. The disclosure for this purchase can be found here. Insiders have purchased 10,375 shares of company stock valued at $705,819 in the last ninety days. Company insiders own 2.90% 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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