6,258 Shares in Dollar Tree, Inc. (NASDAQ:DLTR) Acquired by Summit Securities Group LLC
Summit Securities Group LLC purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) during the second quarter, Holdings Channel reports. The institutional investor purchased 6,258 shares of the company’s stock, valued at approximately $438,000.
Other hedge funds also recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. increased its stake in Dollar Tree by 90.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the company’s stock valued at $124,000 after buying an additional 750 shares during the period. FNY Managed Accounts LLC bought a new stake in Dollar Tree during the first quarter valued at about $124,000. Citizens Financial Group Inc. RI increased its stake in Dollar Tree by 3.1% in the first quarter. Citizens Financial Group Inc. RI now owns 1,584 shares of the company’s stock valued at $125,000 after buying an additional 48 shares during the period. Quadrant Capital Group LLC increased its stake in Dollar Tree by 8.2% in the first quarter. Quadrant Capital Group LLC now owns 1,769 shares of the company’s stock valued at $134,000 after buying an additional 134 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Dollar Tree during the first quarter valued at about $150,000. Institutional investors own 91.71% of the company’s stock.
Dollar Tree, Inc. (NASDAQ DLTR) opened at 73.50 on Friday. The firm has a 50-day moving average price of $70.59 and a 200 day moving average price of $75.72. The firm has a market cap of $17.40 billion, a PE ratio of 20.14 and a beta of 0.68. Dollar Tree, Inc. has a 12-month low of $65.63 and a 12-month high of $96.95.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, May 25th. The company reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. Dollar Tree had a return on equity of 17.68% and a net margin of 4.13%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Dollar Tree, Inc. will post $4.48 EPS for the current year.
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Several analysts have recently issued reports on DLTR shares. Deutsche Bank AG reiterated a “buy” rating and set a $95.00 price target on shares of Dollar Tree in a research note on Tuesday, July 4th. BTIG Research reiterated a “buy” rating and set a $98.00 price target on shares of Dollar Tree in a research note on Monday, May 22nd. Gordon Haskett started coverage on Dollar Tree in a research note on Tuesday, May 9th. They set a “buy” rating and a $98.00 price target for the company. Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a research note on Monday, April 24th. Finally, Loop Capital upgraded Dollar Tree from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $86.00 in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. Dollar Tree presently has an average rating of “Hold” and an average price target of $86.91.
In other news, Director Thomas A. Saunders sold 13,660 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $68.75, for a total transaction of $939,125.00. Following the completion of the sale, the director now owns 2,390,881 shares in the company, valued at $164,373,068.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lemuel E. Lewis acquired 1,900 shares of Dollar Tree stock in a transaction dated Monday, June 26th. The shares were purchased at an average price of $66.70 per share, with a total value of $126,730.00. Following the acquisition, the director now owns 16,404 shares of the company’s stock, valued at $1,094,146.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 10,375 shares of company stock valued at $705,819. Corporate insiders own 4.10% of the company’s stock.
Dollar Tree Company 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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