Sanders Morris Harris Inc. Acquires Shares of 4,500 Dollar Tree Inc. (DLTR)
Sanders Morris Harris Inc. acquired a new stake in shares of Dollar Tree Inc. (NASDAQ:DLTR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,500 shares of the company’s stock, valued at approximately $424,000.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Dollar Tree during the fourth quarter valued at approximately $157,389,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Dollar Tree by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 198,752 shares of the company’s stock valued at $16,390,000 after buying an additional 4,655 shares during the last quarter. DnB Asset Management AS increased its position in shares of Dollar Tree by 54.2% in the first quarter. DnB Asset Management AS now owns 17,355 shares of the company’s stock valued at $1,431,000 after buying an additional 6,100 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Dollar Tree by 14.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,224 shares of the company’s stock valued at $4,141,000 after buying an additional 6,301 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of Dollar Tree by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 57,167 shares of the company’s stock valued at $4,714,000 after buying an additional 4,539 shares during the last quarter. 94.43% of the stock is owned by institutional investors and hedge funds.
Dollar Tree Inc. (NASDAQ:DLTR) traded down 1.09% on Friday, reaching $81.10. The company had a trading volume of 3,212,004 shares. Dollar Tree Inc. has a 1-year low of $60.31 and a 1-year high of $99.93. The stock has a market capitalization of $19.12 billion, a P/E ratio of 26.91 and a beta of 0.43. The stock’s 50 day moving average is $91.37 and its 200-day moving average is $86.71.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. The firm earned $5.02 billion during the quarter, compared to analyst estimates of $5.08 billion. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. On average, equities analysts predict that Dollar Tree Inc. will post $3.78 EPS for the current fiscal year.
DLTR has been the subject of several analyst reports. Deutsche Bank AG restated a “hold” rating and set a $82.00 price target (up from $77.00) on shares of Dollar Tree in a report on Monday, May 23rd. Topeka Capital Markets initiated coverage on Dollar Tree in a report on Monday, May 23rd. They set a “buy” rating and a $105.00 price target for the company. MKM Partners restated a “buy” rating and set a $91.00 price target on shares of Dollar Tree in a report on Tuesday, May 24th. Telsey Advisory Group reduced their price target on Dollar Tree from $102.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Finally, Royal Bank Of Canada reduced their price target on Dollar Tree from $101.00 to $94.00 and set a “top pick” rating for the company in a report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $95.10.
In other news, insider Barry W. Sullivan sold 2,449 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $83.21, for a total value of $203,781.29. Following the transaction, the insider now directly owns 8,904 shares of the company’s stock, valued at $740,901.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Conrad M. Hall acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was purchased at an average cost of $85.60 per share, for a total transaction of $428,000.00. Following the completion of the acquisition, the director now directly owns 799 shares of the company’s stock, valued at approximately $68,394.40. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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