Dollar Tree, Inc. (DLTR) Position Boosted by Goodnow Investment Group LLC
Goodnow Investment Group LLC increased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,075 shares of the company’s stock after buying an additional 7,014 shares during the period. Dollar Tree accounts for approximately 3.7% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 12th biggest position. Goodnow Investment Group LLC owned approximately 0.09% of Dollar Tree worth $17,978,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC increased its holdings in Dollar Tree by 0.6% during the second quarter. Advisory Services Network LLC now owns 1,924 shares of the company’s stock worth $135,000 after buying an additional 12 shares during the last quarter. YorkBridge Wealth Partners LLC increased its holdings in Dollar Tree by 2.0% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,877 shares of the company’s stock worth $131,000 after buying an additional 36 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Dollar Tree by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,584 shares of the company’s stock worth $1,229,000 after buying an additional 73 shares during the last quarter. Atlantic Trust LLC increased its holdings in Dollar Tree by 2.9% during the second quarter. Atlantic Trust LLC now owns 5,425 shares of the company’s stock worth $379,000 after buying an additional 155 shares during the last quarter. Finally, Cadence Capital Management LLC increased its holdings in shares of Dollar Tree by 1.4% in the second quarter. Cadence Capital Management LLC now owns 11,639 shares of the company’s stock valued at $814,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.
Several research firms have commented on DLTR. Moffett Nathanson began coverage on shares of Dollar Tree in a report on Monday. They issued a “buy” rating on the stock. Bank of America upped their price objective on shares of Dollar Tree from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Telsey Advisory Group upped their price objective on shares of Dollar Tree from $101.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, November 22nd. Royal Bank Of Canada reiterated a “top pick” rating and issued a $111.00 price objective (up from $102.00) on shares of Dollar Tree in a report on Wednesday, November 22nd. Finally, KeyCorp reiterated an “overweight” rating and issued a $115.00 price objective (up from $98.00) on shares of Dollar Tree in a report on Wednesday, November 22nd. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $99.92.
Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.11. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. Dollar Tree’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share. analysts expect that Dollar Tree, Inc. will post 4.84 EPS for the current fiscal year.
In other news, Director Thomas A. Saunders sold 33,750 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $106.34, for a total value of $3,588,975.00. Following the completion of the transaction, the director now owns 2,332,294 shares of the company’s stock, valued at $248,016,143.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael A. Witynski sold 4,644 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $102.04, for a total transaction of $473,873.76. Following the completion of the transaction, the chief operating officer now directly owns 12,381 shares of the company’s stock, valued at approximately $1,263,357.24. The disclosure for this sale can be found here. Insiders sold 382,141 shares of company stock valued at $36,142,631 in the last three months. Company insiders own 2.90% of the company’s stock.
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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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