State of Alaska Department of Revenue Lowers Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

State of Alaska Department of Revenue reduced its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 20.5% during the third quarter, Holdings Channel reports. The firm owned 31,412 shares of the company’s stock after selling 8,090 shares during the period. State of Alaska Department of Revenue’s holdings in Dollar Tree were worth $2,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC lifted its position in shares of Dollar Tree by 4.9% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,985 shares of the company’s stock worth $264,000 after buying an additional 93 shares in the last quarter. Salomon & Ludwin LLC boosted its position in Dollar Tree by 27.0% in the first quarter. Salomon & Ludwin LLC now owns 494 shares of the company’s stock worth $66,000 after purchasing an additional 105 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Dollar Tree by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 486 shares of the company’s stock valued at $65,000 after purchasing an additional 110 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Dollar Tree by 2.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,650 shares of the company’s stock valued at $603,000 after purchasing an additional 116 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Dollar Tree by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 4,996 shares of the company’s stock valued at $533,000 after purchasing an additional 124 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Dollar Tree Stock Up 3.0 %

DLTR opened at $66.60 on Friday. The firm has a market capitalization of $14.32 billion, a P/E ratio of -13.65, a price-to-earnings-growth ratio of 2.68 and a beta of 0.86. Dollar Tree, Inc. has a one year low of $60.81 and a one year high of $151.21. The company has a fifty day moving average price of $71.57 and a 200-day moving average price of $96.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17.

Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Dollar Tree’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts expect that Dollar Tree, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DLTR shares. Citigroup reduced their price target on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered shares of Dollar Tree from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $111.00 to $70.00 in a research note on Wednesday, September 4th. Guggenheim dropped their price objective on Dollar Tree from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Barclays decreased their target price on Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Finally, Piper Sandler dropped their price target on Dollar Tree from $112.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.53.

Insider Buying and Selling

In related news, Director Daniel J. Heinrich bought 2,200 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $68.27 per share, for a total transaction of $150,194.00. Following the completion of the transaction, the director now directly owns 9,823 shares in the company, valued at $670,616.21. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.80% of the stock is owned by company insiders.

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.