Sumitomo Mitsui Trust Group Inc. Acquires 2,405 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 480,400 shares of the company’s stock after purchasing an additional 2,405 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Dollar Tree were worth $33,782,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DLTR. Strategic Financial Concepts LLC bought a new position in Dollar Tree during the second quarter worth $26,000. Mather Group LLC. grew its holdings in Dollar Tree by 198.9% during 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 period. Eastern Bank bought a new position in shares of Dollar Tree in the 3rd quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Dollar Tree in the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. boosted its position in shares of Dollar Tree by 174.5% during the 2nd quarter. Blue Trust Inc. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of NASDAQ:DLTR opened at $64.20 on Friday. The company’s fifty day moving average is $67.95 and its 200 day moving average is $92.36. The company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $151.21. The stock has a market cap of $13.80 billion, a PE ratio of -13.16, a PEG ratio of 2.75 and a beta of 0.87.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The company had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was up .7% on a year-over-year basis. Research analysts anticipate that Dollar Tree, Inc. will post 5.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DLTR. Wells Fargo & Company cut their target price on shares of Dollar Tree from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Telsey Advisory Group downgraded Dollar Tree from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $95.00 to $75.00 in a research note on Tuesday, November 5th. KeyCorp downgraded Dollar Tree from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. UBS Group cut their price target on Dollar Tree from $155.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on Dollar Tree from $130.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.11.

Insider Buying and Selling at Dollar Tree

In other news, Director Daniel J. Heinrich purchased 2,200 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $68.27 per share, with a total value of $150,194.00. Following the acquisition, the director now directly owns 9,823 shares in the company, valued at approximately $670,616.21. The trade was a 28.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.80% of the company’s stock.

About Dollar Tree

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.