Norris Perne & French LLP MI Boosts Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Norris Perne & French LLP MI grew its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 1.9% in the first quarter, Holdings Channel.com reports. The firm owned 135,676 shares of the company’s stock after acquiring an additional 2,507 shares during the quarter. Norris Perne & French LLP MI’s holdings in Dollar Tree were worth $18,065,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DLTR. International Assets Investment Management LLC purchased a new position in Dollar Tree in the fourth quarter worth approximately $15,638,000. DAVENPORT & Co LLC boosted its position in shares of Dollar Tree by 155.2% during the fourth quarter. DAVENPORT & Co LLC now owns 31,275 shares of the company’s stock worth $4,443,000 after buying an additional 19,019 shares during the period. Dorsal Capital Management LP purchased a new position in shares of Dollar Tree during the fourth quarter worth $35,512,000. Wellington Management Group LLP boosted its position in shares of Dollar Tree by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 2,881,772 shares of the company’s stock worth $409,356,000 after buying an additional 73,588 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Dollar Tree by 92.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 146,614 shares of the company’s stock valued at $20,826,000 after acquiring an additional 70,478 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Dollar Tree Trading Up 1.5 %

Shares of NASDAQ:DLTR traded up $1.56 during trading on Friday, hitting $106.77. 3,212,651 shares of the stock were exchanged, compared to its average volume of 3,527,629. The company has a fifty day moving average price of $114.77 and a two-hundred day moving average price of $128.49. 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, Inc. has a 12-month low of $101.85 and a 12-month high of $154.96.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.63 billion. Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.47 EPS. On average, research analysts expect that Dollar Tree, Inc. will post 6.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on DLTR shares. Truist Financial reduced their price objective on Dollar Tree from $147.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. UBS Group cut their target price on Dollar Tree from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler cut their target price on Dollar Tree from $168.00 to $143.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Wells Fargo & Company cut their target price on Dollar Tree from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Finally, KeyCorp upgraded Dollar Tree from a “sector weight” rating to an “overweight” rating and set a $150.00 target price on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.45.

Insider Transactions at Dollar Tree

In related news, CFO Jeffrey A. Davis acquired 1,800 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was purchased at an average cost of $136.00 per share, for a total transaction of $244,800.00. Following the transaction, the chief financial officer now directly owns 19,047 shares of the company’s stock, valued at approximately $2,590,392. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $1,026,765.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey A. Davis purchased 1,800 shares of the business’s stock in a transaction on Monday, April 1st. The stock was acquired at an average price of $136.00 per share, with a total value of $244,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 19,047 shares in the company, valued at approximately $2,590,392. The disclosure for this purchase can be found here. Corporate insiders own 6.80% of the company’s stock.

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.