DAVENPORT & Co LLC Sells 3,561 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

DAVENPORT & Co LLC decreased its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 34.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,814 shares of the company’s stock after selling 3,561 shares during the period. DAVENPORT & Co LLC’s holdings in Dollar Tree were worth $511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in Dollar Tree during the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its position in Dollar Tree by 91.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company’s stock valued at $33,000 after purchasing an additional 210 shares during the last quarter. Eastern Bank bought a new position in Dollar Tree during the third quarter valued at $34,000. First Horizon Advisors Inc. lifted its position in Dollar Tree by 105.6% during the third quarter. First Horizon Advisors Inc. now owns 553 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Dollar Tree by 738.7% during the third quarter. Sunbelt Securities Inc. now owns 629 shares of the company’s stock valued at $44,000 after purchasing an additional 554 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Trading Down 2.5 %

DLTR stock opened at $72.66 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $151.21. The firm’s 50-day moving average is $72.83 and its 200 day moving average is $76.06. The company has a market capitalization of $15.62 billion, a PE ratio of -15.23, a P/E/G ratio of 2.34 and a beta of 0.89.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.05. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on DLTR. StockNews.com upgraded shares of Dollar Tree from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of Dollar Tree in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $76.00 target price on the stock. Truist Financial increased their target price on shares of Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on shares of Dollar Tree from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, KeyCorp downgraded shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. Seventeen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.58.

Dollar Tree 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.