Bank of Nova Scotia Sells 50,841 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Bank of Nova Scotia lowered its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 29.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 124,148 shares of the company’s stock after selling 50,841 shares during the quarter. Bank of Nova Scotia’s holdings in Dollar Tree were worth $9,320,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in Dollar Tree by 11.6% in the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company’s stock worth $115,000 after acquiring an additional 159 shares during the last quarter. Amalgamated Bank increased its holdings in Dollar Tree by 0.7% in the 1st quarter. Amalgamated Bank now owns 39,283 shares of the company’s stock worth $2,949,000 after acquiring an additional 265 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Dollar Tree by 6.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,656 shares of the company’s stock worth $349,000 after acquiring an additional 292 shares during the last quarter. Wahed Invest LLC increased its holdings in Dollar Tree by 6.1% in the 4th quarter. Wahed Invest LLC now owns 5,205 shares of the company’s stock worth $390,000 after acquiring an additional 297 shares during the last quarter. Finally, Kera Capital Partners Inc. increased its holdings in Dollar Tree by 10.5% in the 1st quarter. Kera Capital Partners Inc. now owns 3,352 shares of the company’s stock worth $252,000 after acquiring an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DLTR. JPMorgan Chase & Co. raised their target price on Dollar Tree from $111.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Wells Fargo & Company raised their target price on Dollar Tree from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their target price on Dollar Tree from $80.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 5th. Barclays upgraded Dollar Tree from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $138.00 in a research note on Monday, July 21st. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $95.00 target price on shares of Dollar Tree in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.74.

Dollar Tree Price Performance

Shares of Dollar Tree stock opened at $115.72 on Tuesday. The firm has a market capitalization of $24.15 billion, a PE ratio of -8.35, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88. The business’s 50-day moving average price is $102.53 and its 200-day moving average price is $84.83. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $116.50. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. The company had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. Sell-side analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its board has approved a share repurchase plan on Wednesday, July 9th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to reacquire up to 11.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the completion of the sale, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.60% of the stock is owned by corporate insiders.

Dollar Tree Profile

Dollar Tree, Inc operates retail discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.