State of Wisconsin Investment Board Trims Stake in Dollar Tree, Inc. (DLTR)
State of Wisconsin Investment Board cut its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,801 shares of the company’s stock after selling 20,681 shares during the period. State of Wisconsin Investment Board owned 0.12% of Dollar Tree worth $24,973,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Horrell Capital Management Inc. grew its stake in shares of Dollar Tree by 4.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 30,610 shares of the company’s stock valued at $2,602,000 after buying an additional 1,205 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Dollar Tree during the 1st quarter valued at about $251,000. Smith Salley & Associates boosted its stake in Dollar Tree by 87.1% during the 1st quarter. Smith Salley & Associates now owns 4,349 shares of the company’s stock valued at $413,000 after purchasing an additional 2,025 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Dollar Tree during the 1st quarter valued at about $335,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Dollar Tree during the 1st quarter valued at about $2,162,000. Institutional investors own 91.34% of the company’s stock.
Dollar Tree stock opened at $92.43 on Friday. Dollar Tree, Inc. has a 52 week low of $72.85 and a 52 week high of $116.65. The company has a current ratio of 2.11, a quick ratio of 0.41 and a debt-to-equity ratio of 0.69. The company has a market cap of $22.04 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.12 and a beta of 0.84.
A number of research firms have issued reports on DLTR. BidaskClub upgraded Dollar Tree from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Citigroup began coverage on Dollar Tree in a research note on Friday, July 6th. They set a “neutral” rating for the company. Credit Suisse Group lifted their price target on Dollar Tree from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, June 28th. ValuEngine upgraded Dollar Tree from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. Finally, Oppenheimer cut their price target on Dollar Tree from $108.00 to $92.00 and set an “outperform” rating for the company in a research note on Tuesday, June 5th. Eleven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $106.76.
In related news, Director Thomas E. Whiddon purchased 2,250 shares of the stock in a transaction that occurred on Monday, June 18th. The shares were bought at an average price of $88.78 per share, with a total value of $199,755.00. Following the acquisition, the director now owns 26,121 shares of the company’s stock, valued at approximately $2,319,022.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lemuel E. Lewis purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was bought at an average cost of $80.44 per share, for a total transaction of $201,100.00. Following the acquisition, the director now directly owns 17,654 shares in the company, valued at approximately $1,420,087.76. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.
Dollar Tree Company Profile
Dollar Tree, Inc operates discount variety retail stores in the United States and Canada. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care products, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; various merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods, which include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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