Equity Investment Corp boosted its position in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 95.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,525,374 shares of the company’s stock after purchasing an additional 746,913 shares during the quarter. Dollar Tree makes up approximately 2.5% of Equity Investment Corp’s investment portfolio, making the stock its 17th largest holding. Equity Investment Corp owned about 0.71% of Dollar Tree worth $107,264,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in shares of Dollar Tree during the second quarter valued at about $26,000. Mather Group LLC. increased its holdings in shares of Dollar Tree by 198.9% during the second quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after acquiring an additional 187 shares in the last quarter. Eastern Bank acquired a new position in shares of Dollar Tree during the third quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Dollar Tree during the second quarter valued at about $37,000. Finally, Blue Trust Inc. increased its holdings in shares of Dollar Tree by 174.5% during the second quarter. Blue Trust Inc. now owns 431 shares of the company’s stock valued at $46,000 after acquiring an additional 274 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Daniel J. Heinrich acquired 2,200 shares of Dollar Tree stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $68.27 per share, with a total value of $150,194.00. Following the purchase, the director now owns 9,823 shares in the company, valued at $670,616.21. This trade represents a 28.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.
Dollar Tree Trading Down 2.2 %
Dollar Tree (NASDAQ:DLTR – Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Dollar Tree, Inc. will post 5.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
DLTR has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. StockNews.com upgraded shares of Dollar Tree from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Guggenheim cut their price target on shares of Dollar Tree from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Redburn Atlantic upgraded shares of Dollar Tree to a “hold” rating in a report on Monday, September 23rd. Finally, UBS Group cut their price target on shares of Dollar Tree from $155.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.11.
Get Our Latest Research Report on DLTR
About Dollar Tree
Dollar Tree, Inc operates retail discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.
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