CIBC Asset Management Inc Cuts Position in Dollar Tree, Inc. (NASDAQ:DLTR)

CIBC Asset Management Inc cut its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 52.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,308 shares of the company’s stock after selling 33,981 shares during the quarter. CIBC Asset Management Inc’s holdings in Dollar Tree were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DLTR. State Street Corp boosted its holdings in Dollar Tree by 6.8% during the 3rd quarter. State Street Corp now owns 9,427,910 shares of the company’s stock valued at $662,971,000 after acquiring an additional 596,191 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Dollar Tree by 0.5% in the third quarter. EdgePoint Investment Group Inc. now owns 6,939,526 shares of the company’s stock valued at $487,987,000 after purchasing an additional 35,862 shares during the period. Primecap Management Co. CA boosted its stake in shares of Dollar Tree by 5.5% in the third quarter. Primecap Management Co. CA now owns 3,030,845 shares of the company’s stock valued at $213,129,000 after purchasing an additional 158,385 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Dollar Tree by 9.8% in the third quarter. Janus Henderson Group PLC now owns 1,844,762 shares of the company’s stock valued at $129,724,000 after purchasing an additional 165,398 shares in the last quarter. Finally, Equity Investment Corp increased its stake in Dollar Tree by 95.9% during the 3rd quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after buying an additional 746,913 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Down 1.7 %

Shares of NASDAQ DLTR opened at $74.96 on Friday. The business has a 50-day moving average price of $73.14 and a 200 day moving average price of $73.79. The stock has a market cap of $16.12 billion, a PE ratio of -15.71, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. The company has a quick ratio of 0.17, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $151.21.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on DLTR. Citigroup raised their price target on shares of Dollar Tree from $64.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Guggenheim lowered their target price on Dollar Tree from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price target on shares of Dollar Tree in a report on Friday, December 20th. Loop Capital lifted their price objective on Dollar Tree from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Piper Sandler restated a “neutral” rating and set a $72.00 target price (up from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. Seventeen equities research 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 a consensus rating of “Hold” and a consensus target price 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.