Macquarie Group Ltd. Boosts Stake in Dollar Tree, Inc. (DLTR)
Macquarie Group Ltd. increased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 184,411.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,303,037 shares of the company’s stock after purchasing an additional 8,298,537 shares during the period. Dollar Tree accounts for about 1.3% of Macquarie Group Ltd.’s holdings, making the stock its 17th biggest holding. Macquarie Group Ltd. owned approximately 3.51% of Dollar Tree worth $720,869,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Lowe Brockenbrough & Co. Inc. increased its position in Dollar Tree by 0.8% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 79,007 shares of the company’s stock worth $6,859,000 after purchasing an additional 610 shares during the last quarter. Palladium Partners LLC increased its position in Dollar Tree by 228.3% during the third quarter. Palladium Partners LLC now owns 114,562 shares of the company’s stock worth $9,946,000 after purchasing an additional 79,662 shares during the last quarter. SG Americas Securities LLC increased its position in Dollar Tree by 19.1% during the third quarter. SG Americas Securities LLC now owns 9,524 shares of the company’s stock worth $827,000 after purchasing an additional 1,528 shares during the last quarter. Commonwealth Equity Services Inc increased its position in Dollar Tree by 21.8% during the third quarter. Commonwealth Equity Services Inc now owns 20,178 shares of the company’s stock worth $1,751,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Mar Vista Investment Partners LLC acquired a new stake in Dollar Tree during the third quarter worth about $100,828,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.
Shares of Dollar Tree, Inc. (DLTR) traded up $1.54 during trading hours on Friday, hitting $94.63. 2,136,300 shares of the stock traded hands, compared to its average volume of 2,722,076. The stock has a market cap of $22,047.87, a P/E ratio of 22.32, a PEG ratio of 1.51 and a beta of 0.59. Dollar Tree, Inc. has a twelve month low of $65.63 and a twelve month high of $95.64. The company has a quick ratio of 0.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.95.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 24th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.12. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Dollar Tree had a net margin of 4.37% and a return on equity of 18.07%. The company’s quarterly 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. equities research analysts expect that Dollar Tree, Inc. will post 4.66 EPS for the current fiscal year.
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A number of brokerages have weighed in on DLTR. Cleveland Research upgraded shares of Dollar Tree from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, October 11th. Raymond James Financial, Inc. dropped coverage on shares of Dollar Tree in a research report on Saturday, August 26th. Royal Bank Of Canada set a $92.00 price target on shares of Dollar Tree and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $85.00 price target on shares of Dollar Tree in a research report on Tuesday, August 22nd. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Dollar Tree presently has an average rating of “Buy” and an average price target of $93.00.
In other news, Chairman Macon F. Brock, Jr. sold 150,000 shares of Dollar Tree stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.13, for a total value of $13,669,500.00. Following the transaction, the chairman now directly owns 1,128,795 shares of the company’s stock, valued at approximately $102,867,088.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary M. Philbin sold 2,795 shares of Dollar Tree stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $84.50, for a total transaction of $236,177.50. Following the completion of the transaction, the insider now directly owns 34,532 shares in the company, valued at $2,917,954. The disclosure for this sale can be found here. Insiders sold a total of 251,449 shares of company stock worth $22,808,837 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.
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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