Dollar Tree, Inc. (NASDAQ:DLTR) Position Lessened by State of Michigan Retirement System

State of Michigan Retirement System trimmed its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 1.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 56,669 shares of the company’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Dollar Tree were worth $7,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Dollar Tree during the fourth quarter worth $26,000. United Community Bank acquired a new position in Dollar Tree during the fourth quarter worth $27,000. Register Financial Advisors LLC acquired a new position in Dollar Tree during the first quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Dollar Tree during the fourth quarter worth $35,000. Finally, City State Bank increased its position in Dollar Tree by 200.0% during the fourth quarter. City State Bank now owns 300 shares of the company’s stock worth $43,000 after buying an additional 200 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DLTR has been the topic of several analyst reports. Citigroup downgraded shares of Dollar Tree from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $163.00 to $120.00 in a research report on Thursday, June 6th. Piper Sandler lowered their target price on shares of Dollar Tree from $168.00 to $143.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. Telsey Advisory Group lowered their target price on shares of Dollar Tree from $160.00 to $155.00 and set an “outperform” rating on the stock in a research report on Thursday, June 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Dollar Tree in a research report on Monday, March 4th. Finally, StockNews.com raised Dollar Tree from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dollar Tree currently has an average rating of “Moderate Buy” and a consensus target price of $142.45.

Dollar Tree Stock Performance

Shares of NASDAQ DLTR traded down $0.14 during mid-day trading on Tuesday, hitting $107.11. The company had a trading volume of 1,953,727 shares, compared to its average volume of 2,820,499. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.23. The business’s 50-day simple moving average is $114.48 and its 200-day simple moving average is $128.33. Dollar Tree, Inc. has a 12 month low of $101.85 and a 12 month high of $154.96. The firm has a market cap of $23.02 billion, a P/E ratio of -23.34, a PEG ratio of 1.14 and a beta of 0.88.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, June 5th. The company reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. As a group, analysts predict that Dollar Tree, Inc. will post 6.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total transaction of $87,314.66. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $1,026,765.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Dollar Tree Profile

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.