Jennison Associates LLC lessened its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 15.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,808,930 shares of the company’s stock after selling 334,613 shares during the quarter. Jennison Associates LLC’s holdings in Dollar Tree were worth $194,116,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockshelter Capital Management LLC purchased a new position in shares of Dollar Tree in the 2nd quarter worth approximately $5,850,000. Shell Asset Management Co. boosted its holdings in shares of Dollar Tree by 368.4% in the 3rd quarter. Shell Asset Management Co. now owns 72,354 shares of the company’s stock worth $4,057,000 after purchasing an additional 56,906 shares during the period. Korea Investment CORP boosted its holdings in shares of Dollar Tree by 170.4% in the 3rd quarter. Korea Investment CORP now owns 56,489 shares of the company’s stock worth $4,904,000 after purchasing an additional 35,600 shares during the period. Wright Investors Service Inc. purchased a new position in shares of Dollar Tree in the 3rd quarter worth approximately $501,000. Finally, British Airways Pensions Investment Management Ltd purchased a new position in shares of Dollar Tree in the 3rd quarter worth approximately $34,022,000. Institutional investors and hedge funds own 89.46% of the company’s stock.
Shares of Dollar Tree, Inc. (NASDAQ DLTR) opened at $115.07 on Friday. The company has a current ratio of 1.95, a quick ratio of 0.28 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27,109.55, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63. Dollar Tree, Inc. has a 1 year low of $65.63 and a 1 year high of $116.28.
A number of brokerages have recently commented on DLTR. Wells Fargo & Co reiterated an “outperform” rating and issued a $138.00 target price (up previously from $132.00) on shares of Dollar Tree in a report on Tuesday. Zacks Investment Research upgraded Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $128.00 target price for the company in a report on Tuesday, January 16th. Oppenheimer began coverage on Dollar Tree in a report on Tuesday, January 16th. They issued an “outperform” rating and a $130.00 target price for the company. Guggenheim began coverage on Dollar Tree in a report on Wednesday, January 10th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Raymond James Financial set a $124.00 target price on Dollar Tree and gave the stock a “buy” rating in a report on Thursday, December 7th. Eleven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $105.27.
In other Dollar Tree news, Chairman Macon F. Brock, Jr. sold 150,000 shares of Dollar Tree stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $91.13, for a total transaction of $13,669,500.00. Following the completion of the sale, the chairman now directly owns 1,128,795 shares of the company’s stock, valued at approximately $102,867,088.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joshua R. Jewett sold 3,570 shares of Dollar Tree stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $99.00, for a total value of $353,430.00. Following the sale, the insider now directly owns 6,976 shares of the company’s stock, valued at $690,624. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,132 shares of company stock valued at $28,348,680. 4.10% of the stock is currently owned by corporate insiders.
Dollar Tree Profile
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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