Boston Private Wealth LLC trimmed its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,107 shares of the company’s stock after selling 230 shares during the period. Boston Private Wealth LLC’s holdings in Dollar Tree were worth $201,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. First National Bank of South Miami increased its position in shares of Dollar Tree by 157.9% in the third quarter. First National Bank of South Miami now owns 490 shares of the company’s stock worth $47,000 after purchasing an additional 300 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in shares of Dollar Tree in the third quarter worth approximately $48,000. Reilly Financial Advisors LLC bought a new position in Dollar Tree during the third quarter valued at approximately $96,000. Pflug Koory LLC raised its stake in shares of Dollar Tree by 35.4% during the third quarter. Pflug Koory LLC now owns 1,037 shares of the company’s stock worth $99,000 after acquiring an additional 271 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Dollar Tree by 38.4% in the 3rd quarter. IFP Advisors Inc now owns 1,290 shares of the company’s stock worth $124,000 after acquiring an additional 358 shares during the last quarter. Institutional investors own 93.98% of the company’s stock.
A number of brokerages recently commented on DLTR. Zacks Investment Research raised shares of Dollar Tree from a “sell” rating to a “hold” rating and set a $120.00 price target for the company in a research note on Monday, November 15th. Morgan Stanley boosted their price target on shares of Dollar Tree from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, November 26th. JPMorgan Chase & Co. boosted their price target on shares of Dollar Tree from $131.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 24th. Loop Capital boosted their price target on shares of Dollar Tree from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, November 15th. Finally, BMO Capital Markets boosted their price target on shares of Dollar Tree from $97.00 to $155.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $141.62.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Tuesday, November 23rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Dollar Tree had a net margin of 5.29% and a return on equity of 19.02%. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. Dollar Tree’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Dollar Tree, Inc. will post 5.57 earnings per share for the current year.
Dollar Tree announced that its Board of Directors has authorized a share buyback program on Wednesday, September 29th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 11.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other Dollar Tree news, insider William A. Old, Jr. sold 16,267 shares of the company’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $125.46, for a total value of $2,040,857.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David A. Jacobs sold 3,395 shares of the company’s stock in a transaction dated Thursday, January 6th. The stock was sold at an average price of $143.00, for a total transaction of $485,485.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
About Dollar Tree
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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