Raymond James & Associates Cuts Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Raymond James & Associates trimmed its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 13.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 171,669 shares of the company’s stock after selling 25,694 shares during the period. Raymond James & Associates owned approximately 0.08% of Dollar Tree worth $18,329,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in Dollar Tree during the 4th quarter valued at about $26,000. United Community Bank purchased a new stake in shares of Dollar Tree during the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC bought a new stake in shares of Dollar Tree during the first quarter valued at approximately $28,000. Mather Group LLC. raised its holdings in Dollar Tree by 198.9% in the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock worth $30,000 after acquiring an additional 187 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Dollar Tree in the 2nd quarter worth approximately $37,000. 97.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on DLTR shares. BMO Capital Markets reduced their target price on Dollar Tree from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, June 6th. JPMorgan Chase & Co. lifted their price objective on Dollar Tree from $135.00 to $148.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Wells Fargo & Company lowered their target price on shares of Dollar Tree from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Truist Financial reduced their price target on shares of Dollar Tree from $147.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, Citigroup downgraded shares of Dollar Tree from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $163.00 to $120.00 in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.55.

Dollar Tree Stock Performance

NASDAQ DLTR opened at $97.96 on Friday. The business has a 50-day moving average price of $102.94 and a 200-day moving average price of $119.53. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of -21.34, a price-to-earnings-growth ratio of 1.07 and a beta of 0.88. Dollar Tree, Inc. has a twelve month low of $91.40 and a twelve month high of $151.21. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.63 billion. During the same period last year, the firm posted $1.47 EPS. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Dollar Tree, Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at Dollar Tree

In other news, insider Robert Aflatooni sold 827 shares of Dollar Tree stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total value of $87,314.66. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

Dollar Tree Company Profile

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.