Renaissance Technologies LLC Sells 592,154 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Renaissance Technologies LLC decreased its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 64.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 319,803 shares of the company’s stock after selling 592,154 shares during the period. Renaissance Technologies LLC owned 0.15% of Dollar Tree worth $23,966,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MML Investors Services LLC lifted its holdings in Dollar Tree by 14.2% during the third quarter. MML Investors Services LLC now owns 13,220 shares of the company’s stock worth $930,000 after buying an additional 1,644 shares during the period. Sunbelt Securities Inc. grew its stake in Dollar Tree by 738.7% in 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. Sanctuary Advisors LLC raised its holdings in Dollar Tree by 37.6% in the third quarter. Sanctuary Advisors LLC now owns 10,041 shares of the company’s stock worth $667,000 after purchasing an additional 2,745 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Dollar Tree by 193.1% in the 3rd quarter. Tidal Investments LLC now owns 20,130 shares of the company’s stock valued at $1,416,000 after buying an additional 13,263 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Dollar Tree by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 232,455 shares of the company’s stock worth $16,346,000 after buying an additional 1,485 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Activity

In related news, Director William W. Douglas III purchased 701 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were purchased at an average cost of $75.00 per share, with a total value of $52,575.00. Following the purchase, the director now owns 1,377 shares of the company’s stock, valued at $103,275. This represents a 103.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DLTR shares. Bank of America lowered their target price on shares of Dollar Tree from $75.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday, April 8th. Loop Capital restated a “hold” rating on shares of Dollar Tree in a research note on Thursday, March 27th. Truist Financial set a $84.00 target price on shares of Dollar Tree in a research note on Thursday, March 27th. Guggenheim lowered their price objective on shares of Dollar Tree from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, Wells Fargo & Company upped their target price on Dollar Tree from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.84.

Dollar Tree Stock Up 0.5 %

DLTR opened at $72.11 on Friday. The company has a fifty day moving average of $70.86 and a two-hundred day moving average of $70.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $129.63. The stock has a market capitalization of $15.51 billion, a price-to-earnings ratio of -15.12, a PEG ratio of 2.16 and a beta of 0.87.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company posted $2.55 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

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.