Pictet Asset Management Ltd. reduced its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,093 shares of the company’s stock after selling 7,000 shares during the quarter. Pictet Asset Management Ltd. owned about 0.05% of Dollar Tree worth $9,957,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of Dollar Tree by 4.3% during the third quarter. Nisa Investment Advisors LLC now owns 67,945 shares of the company’s stock worth $5,541,000 after buying an additional 2,800 shares during the period. Intrepid Capital Management Inc. acquired a new stake in shares of Dollar Tree during the second quarter worth $327,000. Renaissance Technologies LLC acquired a new stake in shares of Dollar Tree during the second quarter worth $51,247,000. Arizona State Retirement System lifted its stake in shares of Dollar Tree by 47.7% during the second quarter. Arizona State Retirement System now owns 122,261 shares of the company’s stock worth $10,392,000 after buying an additional 39,486 shares during the period. Finally, Rothschild Investment Corp IL lifted its stake in shares of Dollar Tree by 7.0% during the third quarter. Rothschild Investment Corp IL now owns 29,189 shares of the company’s stock worth $2,380,000 after buying an additional 1,910 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.
DLTR has been the subject of several research reports. Gordon Haskett downgraded shares of Dollar Tree from an “accumulate” rating to a “hold” rating in a research note on Monday, October 15th. Credit Suisse Group set a $96.00 price objective on shares of Dollar Tree and gave the stock a “buy” rating in a research note on Monday, November 26th. Zacks Investment Research downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. Raymond James lowered their price objective on shares of Dollar Tree from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, August 31st. Finally, BidaskClub downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $101.64.
In other Dollar Tree news, Director Lemuel E. Lewis bought 1,210 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $100,127.50. Following the completion of the transaction, the director now directly owns 20,114 shares of the company’s stock, valued at approximately $1,664,433.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
NASDAQ DLTR opened at $83.39 on Friday. The firm has a market cap of $20.52 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 1.15 and a beta of 0.65. Dollar Tree, Inc. has a 1 year low of $78.78 and a 1 year high of $116.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.22 and a quick ratio of 0.48.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, November 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. The company had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.55 billion. Dollar Tree had a net margin of 7.64% and a return on equity of 17.11%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, equities analysts predict that Dollar Tree, Inc. will post 5.45 EPS for the current fiscal year.
Dollar Tree Company Profile
Dollar Tree, Inc operates discount variety retail stores in the United States and Canada. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care products, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; various merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods, which include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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