Dollar Tree, Inc. (DLTR) Shares Bought by Cat Rock Capital Management LP
Cat Rock Capital Management LP boosted its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 117.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,584 shares of the company’s stock after buying an additional 342,265 shares during the quarter. Dollar Tree makes up approximately 19.0% of Cat Rock Capital Management LP’s portfolio, making the stock its 2nd biggest position. Cat Rock Capital Management LP owned about 0.27% of Dollar Tree worth $44,300,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of DLTR. Omega Advisors Inc. bought a new stake in Dollar Tree in the first quarter valued at approximately $5,885,000. Prudential Financial Inc. lifted 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 last quarter. Achmea Investment Management B.V. bought a new stake in Dollar Tree in the first quarter valued at approximately $448,000. Ironwood Investment Management LLC lifted 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 last quarter. Finally, State Treasurer State of Michigan lifted 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 last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.
In related news, Director Conrad M. Hall purchased 5,000 shares of Dollar Tree stock in a transaction dated Monday, July 10th. The stock was purchased at an average cost of $66.16 per share, with a total value of $330,800.00. Following the transaction, the director now 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 through the SEC website. Also, insider Gary M. Philbin sold 2,795 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $84.50, for a total value of $236,177.50. Following the completion of the transaction, the insider now directly owns 34,532 shares of the company’s stock, valued at $2,917,954. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,849 shares of company stock valued at $2,528,548. 4.10% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on DLTR. BidaskClub upgraded Dollar Tree from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Loop Capital reiterated a “buy” rating and issued a $86.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 9th. Buckingham Research reiterated a “buy” rating and issued a $87.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $85.00 price objective on shares of Dollar Tree in a research report on Tuesday, August 22nd. Finally, Telsey Advisory Group boosted their price objective on Dollar Tree from $88.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.91.
Dollar Tree, Inc. (NASDAQ DLTR) traded up 1.33% during midday trading on Friday, hitting $86.82. The stock had a trading volume of 1,819,907 shares. Dollar Tree, Inc. has a 52-week low of $65.63 and a 52-week high of $91.41. The stock has a market cap of $20.56 billion, a PE ratio of 22.21 and a beta of 0.68. The company’s 50 day moving average price is $78.20 and its 200-day moving average price is $76.10.
Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Thursday, August 24th. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.12. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. Dollar Tree’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. Analysts forecast that Dollar Tree, Inc. will post $4.66 EPS for the current fiscal year.
Dollar Tree 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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