Horrell Capital Management Inc. boosted its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,770 shares of the company’s stock after buying an additional 101 shares during the quarter. Dollar Tree accounts for 1.4% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 25th largest position. Horrell Capital Management Inc.’s holdings in Dollar Tree were worth $3,636,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in DLTR. Norges Bank acquired a new stake in Dollar Tree during the 4th quarter worth approximately $252,364,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Dollar Tree by 25,748.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,190,109 shares of the company’s stock worth $236,619,000 after buying an additional 2,181,636 shares in the last quarter. Dorsal Capital Management LLC acquired a new stake in Dollar Tree during the 4th quarter worth approximately $75,628,000. Lazard Asset Management LLC lifted its holdings in Dollar Tree by 9.4% during the 4th quarter. Lazard Asset Management LLC now owns 6,866,513 shares of the company’s stock worth $741,857,000 after buying an additional 589,938 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Dollar Tree by 117.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,054,554 shares of the company’s stock valued at $120,704,000 after purchasing an additional 569,631 shares in the last quarter. Institutional investors own 88.60% of the company’s stock.
A number of equities research analysts have recently weighed in on DLTR shares. BMO Capital Markets reduced their price objective on shares of Dollar Tree from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, March 10th. Royal Bank of Canada reduced their price objective on shares of Dollar Tree from $129.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, March 10th. JPMorgan Chase & Co. raised their price objective on shares of Dollar Tree from $130.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, February 16th. Finally, Bank of America lowered shares of Dollar Tree from a “buy” rating to an “underperform” rating in a report on Thursday, February 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $116.11.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.01. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.78 billion. Dollar Tree had a net margin of 3.84% and a return on equity of 19.05%. Dollar Tree’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.79 EPS. As a group, equities analysts expect that Dollar Tree, Inc. will post 5.64 earnings per share for the current year.
Dollar Tree announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 3rd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, insider David A. Jacobs sold 3,869 shares of Dollar Tree stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $115.30, for a total value of $446,095.70. Following the sale, the insider now owns 12,039 shares of the company’s stock, valued at $1,388,096.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Arnold S. Barron sold 3,978 shares of Dollar Tree stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $101.47, for a total transaction of $403,647.66. In the last ninety days, insiders sold 33,496 shares of company stock worth $3,787,911. Insiders own 1.40% of the company’s stock.
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 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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