State of Tennessee Treasury Department increased its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 34.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 252,246 shares of the company’s stock after buying an additional 64,868 shares during the period. State of Tennessee Treasury Department’s holdings in Dollar Tree were worth $27,069,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Republic Investment Management Inc. lifted its position in Dollar Tree by 10.1% during the 4th quarter. First Republic Investment Management Inc. now owns 10,694 shares of the company’s stock worth $1,148,000 after buying an additional 981 shares in the last quarter. Suntrust Banks Inc. lifted its position in Dollar Tree by 45.7% during the 4th quarter. Suntrust Banks Inc. now owns 20,800 shares of the company’s stock worth $2,230,000 after buying an additional 6,528 shares in the last quarter. Norinchukin Bank The lifted its position in Dollar Tree by 7.5% during the 4th quarter. Norinchukin Bank The now owns 18,956 shares of the company’s stock worth $2,034,000 after buying an additional 1,327 shares in the last quarter. Synovus Financial Corp acquired a new position in Dollar Tree during the 4th quarter worth about $232,000. Finally, American International Group Inc. lifted its position in Dollar Tree by 6.9% during the 4th quarter. American International Group Inc. now owns 112,090 shares of the company’s stock worth $12,028,000 after buying an additional 7,211 shares in the last quarter. Institutional investors and hedge funds own 91.50% of the company’s stock.
In other news, Chairman Bob Sasser sold 64,002 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $99.74, for a total value of $6,383,559.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Saunders sold 12,440 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $108.15, for a total value of $1,345,386.00. Following the completion of the sale, the director now directly owns 2,326,702 shares of the company’s stock, valued at $251,632,821.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,940 shares of company stock valued at $13,761,818. 4.10% of the stock is currently owned by company insiders.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Dollar Tree had a return on equity of 18.04% and a net margin of 4.63%. Dollar Tree’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. sell-side analysts predict that Dollar Tree, Inc. will post 4.89 earnings per share for the current year.
Several analysts have weighed in on DLTR shares. Royal Bank of Canada set a $92.00 price objective on Dollar Tree and gave the stock a “buy” rating in a report on Monday, October 30th. Zacks Investment Research cut Dollar Tree from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and set a $85.00 price objective on shares of Dollar Tree in a report on Tuesday, October 31st. BMO Capital Markets reissued a “hold” rating and set a $90.00 price objective on shares of Dollar Tree in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $118.00 price objective on shares of Dollar Tree in a report on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Dollar Tree currently has an average rating of “Buy” and a consensus price target of $106.31.
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About Dollar Tree
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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