Dollar Tree, Inc. (DLTR) Shares Bought by BlackRock Inc.
BlackRock Inc. raised its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 10.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,904,087 shares of the company’s stock after purchasing an additional 1,479,936 shares during the quarter. BlackRock Inc. owned 6.72% of Dollar Tree worth $1,112,013,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Omega Advisors Inc. purchased a new stake in Dollar Tree in the first quarter valued at $5,885,000. Prudential Financial Inc. raised its position in Dollar Tree by 8.4% in the second quarter. Prudential Financial Inc. now owns 358,085 shares of the company’s stock valued at $25,037,000 after purchasing an additional 27,672 shares during the period. Achmea Investment Management B.V. purchased a new stake in Dollar Tree in the first quarter valued at $448,000. Ironwood Investment Management LLC raised its position in Dollar Tree by 41.5% in the first quarter. Ironwood Investment Management LLC now owns 4,437 shares of the company’s stock valued at $348,000 after purchasing an additional 1,302 shares during the period. Finally, State Treasurer State of Michigan raised its position in Dollar Tree by 0.4% in the second quarter. State Treasurer State of Michigan now owns 77,810 shares of the company’s stock valued at $5,440,000 after purchasing an additional 300 shares during the period. Institutional investors own 90.74% of the company’s stock.
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DLTR has been the topic of a number of research analyst reports. BidaskClub upgraded Dollar Tree from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Loop Capital upgraded Dollar Tree from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $86.00 in a research report on Wednesday, June 28th. Zacks Investment Research upgraded Dollar Tree from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. dropped coverage on Dollar Tree in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Dollar Tree in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $88.04.
Dollar Tree, Inc. (DLTR) opened at 83.48 on Monday. Dollar Tree, Inc. has a 52-week low of $65.63 and a 52-week high of $91.41. The firm has a market capitalization of $19.77 billion, a PE ratio of 21.36 and a beta of 0.68. The stock’s 50 day moving average price is $77.55 and its 200 day moving average price is $76.03.
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 consensus estimate of $0.87 by $0.12. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Analysts expect that Dollar Tree, Inc. will post $4.66 earnings per share for the current year.
In other news, insider Gary M. Philbin sold 2,795 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $84.50, for a total transaction of $236,177.50. Following the completion of the sale, the insider now directly owns 34,532 shares in the company, valued at $2,917,954. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lemuel E. Lewis bought 1,900 shares of the stock in a transaction dated Monday, June 26th. The shares were acquired at an average price of $66.70 per share, with a total value of $126,730.00. Following the completion of 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 sold 33,849 shares of company stock valued at $2,528,548 over the last 90 days. 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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