Huntington National Bank reduced its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 62.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,615 shares of the company’s stock after selling 51,921 shares during the quarter. Huntington National Bank’s holdings in Dollar Tree were worth $2,838,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in DLTR. Eudaimonia Partners LLC bought a new position in shares of Dollar Tree during the first quarter worth approximately $26,000. Bessemer Group Inc. increased its holdings in shares of Dollar Tree by 335.7% during the first quarter. Bessemer Group Inc. now owns 366 shares of the company’s stock worth $27,000 after purchasing an additional 282 shares during the period. Heritage Wealth Advisors increased its holdings in shares of Dollar Tree by 28,706.9% during the second quarter. Heritage Wealth Advisors now owns 91,606 shares of the company’s stock worth $29,000 after purchasing an additional 91,288 shares during the period. First Bank & Trust bought a new position in shares of Dollar Tree during the first quarter worth approximately $41,000. Finally, Bainco International Investors bought a new position in shares of Dollar Tree during the first quarter worth approximately $41,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.
DLTR has been the topic of several recent research reports. BofA Securities raised shares of Dollar Tree from a “neutral” rating to a “buy” rating and raised their target price for the stock from $100.00 to $115.00 in a report on Thursday, July 16th. Goldman Sachs Group assumed coverage on shares of Dollar Tree in a research note on Monday, May 18th. They issued a “buy” rating and a $89.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of Dollar Tree from $98.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Telsey Advisory Group lifted their price objective on shares of Dollar Tree from $92.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Bank of America raised shares of Dollar Tree from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $115.00 in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Dollar Tree presently has a consensus rating of “Buy” and an average target price of $104.09.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.19. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.14 billion. Dollar Tree had a net margin of 3.35% and a return on equity of 18.69%. Dollar Tree’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. Sell-side analysts forecast that Dollar Tree, Inc. will post 4.66 EPS for the current year.
About Dollar Tree
Dollar Tree, Inc operates discount variety retail stores. 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, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods that include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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