BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 12.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,497 shares of the company’s stock after buying an additional 4,801 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Dollar Tree were worth $4,328,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in DLTR. Sandy Spring Bank lifted its position in Dollar Tree by 2,041.7% during the second quarter. Sandy Spring Bank now owns 257 shares of the company’s stock worth $26,000 after buying an additional 245 shares in the last quarter. Danda Trouve Investment Management Inc. purchased a new position in Dollar Tree during the second quarter worth approximately $33,000. Baldrige Asset Management LLC purchased a new position in Dollar Tree during the second quarter worth approximately $35,000. Logan Capital Management Inc. purchased a new position in Dollar Tree during the first quarter worth approximately $36,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Dollar Tree by 48.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 391 shares of the company’s stock worth $45,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.
DLTR has been the subject of several recent analyst reports. Telsey Advisory Group cut Dollar Tree from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $125.00 to $102.00 in a research note on Friday, August 27th. KeyCorp cut their target price on Dollar Tree from $125.00 to $116.00 and set an “overweight” rating for the company in a research note on Friday, August 27th. Piper Sandler cut Dollar Tree from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $117.00 to $102.00 in a research note on Thursday, June 24th. Deutsche Bank Aktiengesellschaft cut their target price on Dollar Tree from $102.00 to $96.00 and set a “hold” rating for the company in a research note on Friday, August 27th. Finally, TheStreet cut Dollar Tree from a “b” rating to a “c+” rating in a research note on Thursday, September 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $111.69.
Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, August 25th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.22. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $6.46 billion. Dollar Tree had a return on equity of 20.78% and a net margin of 5.78%. Dollar Tree’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. Equities analysts forecast that Dollar Tree, Inc. will post 5.53 EPS for the current year.
In related news, insider Richard L. Mcneely sold 7,635 shares of Dollar Tree stock in a transaction on Monday, June 21st. The stock was sold at an average price of $101.16, for a total value of $772,356.60. Following the completion of the transaction, the insider now directly owns 497 shares in the company, valued at $50,276.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Dollar Tree Company Profile
Dollar Tree, Inc owns and operates discount variety stores offering merchandise at the fixed prices. It operates through Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and in Canada.
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