Mackay Shields LLC Lowers Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

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Mackay Shields LLC trimmed its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 60.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 39,115 shares of the company’s stock after selling 60,975 shares during the quarter. Mackay Shields LLC’s holdings in Dollar Tree were worth $4,466,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Carlson Capital L P purchased a new stake in shares of Dollar Tree in the 2nd quarter worth $22,027,000. Nelson Roberts Investment Advisors LLC lifted its holdings in shares of Dollar Tree by 12.8% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 882 shares of the company’s stock worth $95,000 after buying an additional 100 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in shares of Dollar Tree by 76.8% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,393 shares of the company’s stock worth $1,866,000 after buying an additional 7,123 shares during the period. Pitcairn Co. lifted its holdings in shares of Dollar Tree by 39.0% in the 2nd quarter. Pitcairn Co. now owns 9,572 shares of the company’s stock worth $1,028,000 after buying an additional 2,688 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Dollar Tree by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 401,936 shares of the company’s stock worth $45,885,000 after buying an additional 3,102 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.

DLTR has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on Dollar Tree from $116.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. OTR Global upgraded Dollar Tree from a “mixed” rating to a “positive” rating in a research note on Friday, August 23rd. Buckingham Research set a $116.00 price objective on Dollar Tree and gave the stock a “buy” rating in a research note on Friday, August 23rd. ValuEngine cut Dollar Tree from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, TheStreet cut Dollar Tree from a “b-” rating to a “c+” rating in a research note on Wednesday, July 31st. Twelve research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Dollar Tree presently has a consensus rating of “Buy” and a consensus target price of $110.34.

Dollar Tree stock traded down $2.12 during midday trading on Friday, reaching $110.35. The company’s stock had a trading volume of 1,297,700 shares, compared to its average volume of 2,117,290. The stock has a market capitalization of $26.80 billion, a P/E ratio of 20.25, a PEG ratio of 2.74 and a beta of 0.55. Dollar Tree, Inc. has a 52-week low of $81.02 and a 52-week high of $119.71. The stock’s 50-day simple moving average is $113.99 and its 200-day simple moving average is $106.69. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.21.

Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, August 29th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.20). The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.72 billion. Dollar Tree had a positive return on equity of 19.76% and a negative net margin of 6.77%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.15 earnings per share. As a group, equities research analysts expect that Dollar Tree, Inc. will post 5.18 earnings per share for the current fiscal year.

In other Dollar Tree news, insider Gary Maxwell sold 2,800 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $107.15, for a total transaction of $300,020.00. Following the transaction, the insider now owns 7,254 shares in the company, valued at $777,266.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Saunders sold 1,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $116.20, for a total value of $116,200.00. Following the transaction, the director now owns 2,380,145 shares in the company, valued at approximately $276,572,849. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,519 shares of company stock worth $9,408,464. 1.40% of the stock is owned by corporate insiders.

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 beauty 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, and other items; and seasonal goods that include Valentine's Day, Easter, Halloween, and Christmas merchandise.

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Want to see what other hedge funds are holding DLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dollar Tree, Inc. (NASDAQ:DLTR).

Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

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