Fernwood Investment Management LLC Has $360,000 Position in Dollar Tree, Inc. (DLTR)
Fernwood Investment Management LLC raised its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,150 shares of the company’s stock after buying an additional 325 shares during the period. Fernwood Investment Management LLC’s holdings in Dollar Tree were worth $360,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of Dollar Tree by 1,996.3% in the first quarter. BlackRock Inc. now owns 14,424,151 shares of the company’s stock worth $1,131,717,000 after buying an additional 13,736,060 shares during the period. Nordea Investment Management AB raised its position in shares of Dollar Tree by 888.9% in the first quarter. Nordea Investment Management AB now owns 2,057,360 shares of the company’s stock worth $161,420,000 after buying an additional 1,849,314 shares during the period. Vanguard Group Inc. raised its position in shares of Dollar Tree by 3.3% in the first quarter. Vanguard Group Inc. now owns 21,667,705 shares of the company’s stock worth $1,700,048,000 after buying an additional 688,409 shares during the period. Bank of New York Mellon Corp raised its position in shares of Dollar Tree by 31.5% in the second quarter. Bank of New York Mellon Corp now owns 2,770,012 shares of the company’s stock worth $193,680,000 after buying an additional 663,229 shares during the period. Finally, CI Global Investments Inc. raised its position in shares of Dollar Tree by 186.3% in the first quarter. CI Global Investments Inc. now owns 900,541 shares of the company’s stock worth $70,656,000 after buying an additional 586,012 shares during the period. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Shares of Dollar Tree, Inc. (DLTR) opened at 74.44 on Thursday. The firm has a market capitalization of $17.62 billion, a PE ratio of 20.39 and a beta of 0.68. The stock’s 50 day moving average price is $71.11 and its 200-day moving average price is $75.68. Dollar Tree, Inc. has a 52-week low of $65.63 and a 52-week high of $96.40. Dollar Tree also saw unusually large options trading activity on Tuesday. Stock investors acquired 27,648 call options on the stock. This represents an increase of 861% compared to the average volume of 2,876 call options.
Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Thursday, May 25th. The company reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Dollar Tree had a net margin of 4.13% and a return on equity of 17.68%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Dollar Tree, Inc. will post $4.48 EPS for the current fiscal year.
DLTR has been the subject of a number of research analyst reports. Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a research note on Monday, April 24th. BidaskClub upgraded Dollar Tree from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Gordon Haskett initiated coverage on Dollar Tree in a research note on Tuesday, May 9th. They issued a “buy” rating and a $98.00 target price for the company. Loop Capital upgraded Dollar Tree from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $86.00 in a research note on Wednesday, June 28th. Finally, Zacks Investment Research upgraded Dollar Tree from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.91.
In related news, Director Conrad M. Hall bought 5,000 shares of the stock in a transaction on Monday, July 10th. The shares were bought at an average cost of $66.16 per share, for a total transaction of $330,800.00. Following the completion of the transaction, the director now owns 63,299 shares of the company’s stock, valued at approximately $4,187,861.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lemuel E. Lewis bought 1,900 shares of the stock in a transaction on Monday, June 26th. The shares were bought at an average price of $66.70 per share, for a total transaction of $126,730.00. Following the completion of the transaction, the director now directly owns 16,404 shares of the company’s stock, valued at approximately $1,094,146.80. The disclosure for this purchase can be found here. Insiders have acquired 10,375 shares of company stock worth $705,819 over the last 90 days. 4.10% of the stock is currently owned by company insiders.
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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