278,600 Shares in Dollar Tree, Inc. (NASDAQ:DLTR) Acquired by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP bought a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 278,600 shares of the company’s stock, valued at approximately $19,591,000. Dollar Tree accounts for about 2.4% of Forest Avenue Capital Management LP’s portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in DLTR. Strategic Financial Concepts LLC acquired a new stake in shares of Dollar Tree in the 2nd quarter worth approximately $26,000. Mather Group LLC. lifted its position in Dollar Tree by 198.9% in the second quarter. Mather Group LLC. now owns 281 shares of the company’s stock worth $30,000 after purchasing an additional 187 shares during the period. Eastern Bank bought a new position in Dollar Tree during the 3rd quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Dollar Tree during the 2nd quarter valued at $37,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Dollar Tree by 105.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 553 shares of the company’s stock worth $39,000 after buying an additional 284 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling

In other Dollar Tree news, Director Daniel J. Heinrich bought 2,200 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $68.27 per share, for a total transaction of $150,194.00. Following the purchase, the director now directly owns 9,823 shares in the company, valued at $670,616.21. This trade represents a 28.86 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lowered their target price on Dollar Tree from $130.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of Dollar Tree from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. BMO Capital Markets reduced their target price on Dollar Tree from $68.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, November 18th. Sanford C. Bernstein initiated coverage on shares of Dollar Tree in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $76.00 price objective for the company. Finally, Barclays cut their target price on shares of Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $87.95.

Dollar Tree Trading Down 0.9 %

Shares of NASDAQ DLTR opened at $69.12 on Wednesday. The business’s 50-day simple moving average is $67.62 and its 200-day simple moving average is $89.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $151.21.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts forecast that Dollar Tree, Inc. will post 5.35 earnings per share for the current fiscal year.

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.