Veracity Capital LLC lifted its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 89.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,835 shares of the company’s stock after acquiring an additional 2,288 shares during the quarter. Veracity Capital LLC’s holdings in Dollar Tree were worth $463,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Dollar Tree by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 2,496,555 shares of the company’s stock worth $248,408,000 after purchasing an additional 443,682 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Dollar Tree in the 2nd quarter worth approximately $5,374,000. Hedeker Wealth LLC purchased a new position in Dollar Tree in the 2nd quarter worth approximately $3,115,000. Metropolitan Life Insurance Co NY lifted its holdings in Dollar Tree by 88,268.8% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 28,278 shares of the company’s stock worth $2,814,000 after purchasing an additional 28,246 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in Dollar Tree by 16.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 34,704 shares of the company’s stock worth $3,453,000 after purchasing an additional 4,962 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.
In other Dollar Tree news, insider William A. Old, Jr. sold 16,267 shares of the company’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $125.46, for a total value of $2,040,857.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Tuesday, November 23rd. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.42 billion. Dollar Tree had a return on equity of 20.78% and a net margin of 5.78%. Dollar Tree’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. As a group, equities analysts predict that Dollar Tree, Inc. will post 5.53 EPS for the current year.
Dollar Tree declared that its board has initiated a share repurchase program on Wednesday, September 29th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 11.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
A number of research analysts recently commented on DLTR shares. Piper Sandler boosted their price target on Dollar Tree from $93.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday. KeyCorp decreased their price objective on Dollar Tree from $125.00 to $116.00 and set an “overweight” rating on the stock in a report on Friday, August 27th. BMO Capital Markets upped their price objective on Dollar Tree from $97.00 to $155.00 and gave the stock a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Morgan Stanley upped their price objective on Dollar Tree from $95.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, November 15th. Finally, Barclays upped their price objective on Dollar Tree from $100.00 to $140.00 and gave the stock an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $137.50.
Dollar Tree Profile
Dollar Tree, Inc owns and operates discount variety stores offering merchandise at the fixed prices. It operates through Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and in Canada.
Further Reading: Market Capitalization in the Stock Market
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