Bank Julius Baer & Co. Ltd Zurich increased its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 16,483.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,990 shares of the company’s stock after purchasing an additional 1,978 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Dollar Tree were worth $215,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Dollar Tree by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,431,806 shares of the company’s stock valued at $1,018,985,000 after buying an additional 373,301 shares during the period. Lazard Asset Management LLC lifted its stake in Dollar Tree by 9.4% in the fourth quarter. Lazard Asset Management LLC now owns 6,866,513 shares of the company’s stock valued at $741,857,000 after buying an additional 589,938 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Dollar Tree by 25,748.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,190,109 shares of the company’s stock valued at $236,619,000 after buying an additional 2,181,636 shares during the period. California Public Employees Retirement System lifted its stake in Dollar Tree by 3.2% in the fourth quarter. California Public Employees Retirement System now owns 1,108,996 shares of the company’s stock valued at $119,816,000 after buying an additional 33,952 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Dollar Tree by 9.1% in the fourth quarter. Brown Advisory Inc. now owns 762,586 shares of the company’s stock valued at $82,389,000 after buying an additional 63,466 shares during the period. Hedge funds and other institutional investors own 88.60% of the company’s stock.
Several equities analysts have weighed in on DLTR shares. Zacks Investment Research raised Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $129.00 target price on the stock in a research note on Tuesday, January 12th. Bank of America downgraded Dollar Tree from a “buy” rating to an “underperform” rating in a report on Thursday, February 25th. JPMorgan Chase & Co. increased their price target on Dollar Tree from $130.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. Royal Bank of Canada lowered their price target on Dollar Tree from $129.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, March 10th. Finally, BMO Capital Markets lowered their price target on Dollar Tree from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, March 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $116.11.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Tuesday, March 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.01. Dollar Tree had a return on equity of 19.05% and a net margin of 3.84%. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.78 billion. During the same period last year, the firm posted $1.79 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Dollar Tree, Inc. will post 5.64 earnings per share for the current year.
Dollar Tree announced that its board has authorized a stock buyback program on Wednesday, March 3rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Arnold S. Barron sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $101.47, for a total value of $403,647.66. Company insiders own 1.40% of the company’s stock.
Dollar Tree Company Profile
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 personal 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, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.
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