DNB Asset Management AS Boosts Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

DNB Asset Management AS raised its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,489 shares of the company’s stock after purchasing an additional 1,434 shares during the quarter. DNB Asset Management AS’s holdings in Dollar Tree were worth $3,682,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Dollar Tree by 2.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,787 shares of the company’s stock worth $2,100,000 after acquiring an additional 322 shares in the last quarter. Trust Point Inc. acquired a new stake in Dollar Tree during the 4th quarter worth approximately $230,000. Ballentine Partners LLC purchased a new position in Dollar Tree in the 4th quarter valued at approximately $293,000. International Assets Investment Management LLC acquired a new position in shares of Dollar Tree in the fourth quarter worth $15,638,000. Finally, Allworth Financial LP increased its position in shares of Dollar Tree by 19.9% during the fourth quarter. Allworth Financial LP now owns 1,886 shares of the company’s stock worth $268,000 after acquiring an additional 313 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DLTR has been the subject of a number of recent research reports. UBS Group decreased their target price on Dollar Tree from $170.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 28th. Telsey Advisory Group decreased their price objective on Dollar Tree from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. Wells Fargo & Company cut their target price on shares of Dollar Tree from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Piper Sandler downgraded shares of Dollar Tree from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $143.00 to $112.00 in a research note on Tuesday, July 16th. Finally, Evercore ISI boosted their price target on shares of Dollar Tree from $136.00 to $137.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.55.

Insiders Place Their Bets

In other news, insider Robert Aflatooni sold 827 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total value of $87,314.66. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is owned by insiders.

Dollar Tree Stock Performance

Shares of Dollar Tree stock opened at $99.00 on Wednesday. The firm’s fifty day simple moving average is $107.01 and its 200-day simple moving average is $122.41. Dollar Tree, Inc. has a 12 month low of $95.44 and a 12 month high of $151.29. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of -21.04, a PEG ratio of 1.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.23.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.63 billion. During the same period in the previous year, the business posted $1.47 earnings per share. Dollar Tree’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Dollar Tree, Inc. will post 6.63 earnings per share for the current year.

About Dollar Tree

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.