Mirae Asset Global Investments Co. Ltd. increased its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Get Rating) by 28.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 164,162 shares of the company’s stock after buying an additional 35,909 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Dollar Tree worth $26,290,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DLTR. Mantle Ridge LP boosted its holdings in shares of Dollar Tree by 11,365,431.0% in the 1st quarter. Mantle Ridge LP now owns 11,365,531 shares of the company’s stock worth $1,820,190,000 after buying an additional 11,365,431 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new position in shares of Dollar Tree in the 4th quarter worth about $646,253,000. Capital World Investors purchased a new position in shares of Dollar Tree in the 4th quarter worth about $553,637,000. Winslow Capital Management LLC purchased a new position in shares of Dollar Tree in the 1st quarter worth about $428,709,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Dollar Tree by 161.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,318,151 shares of the company’s stock worth $606,787,000 after buying an additional 2,665,651 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
DLTR has been the topic of several recent research reports. Telsey Advisory Group dropped their price objective on shares of Dollar Tree from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. BMO Capital Markets upped their price objective on shares of Dollar Tree from $180.00 to $187.00 in a report on Friday, May 27th. Piper Sandler dropped their price objective on shares of Dollar Tree from $191.00 to $167.00 and set an “overweight” rating on the stock in a report on Friday, August 26th. Guggenheim upped their price objective on shares of Dollar Tree to $185.00 in a report on Friday, May 27th. Finally, StockNews.com downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dollar Tree presently has a consensus rating of “Moderate Buy” and an average target price of $163.47.
Dollar Tree Stock Up 2.9 %
DLTR stock opened at $141.92 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.22 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $158.09 and its 200 day moving average is $157.44. The stock has a market cap of $31.78 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.20 and a beta of 0.74. Dollar Tree, Inc. has a 1-year low of $84.26 and a 1-year high of $177.19.
Dollar Tree (NASDAQ:DLTR – Get Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.01. The company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.80 billion. Dollar Tree had a net margin of 5.77% and a return on equity of 19.83%. Dollar Tree’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. Sell-side analysts predict that Dollar Tree, Inc. will post 7.27 EPS for the current fiscal year.
About Dollar Tree
Dollar Tree, Inc operates discount variety retail stores. It 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, including candy and food, and health and personal care, as well as everyday consumables, such as household paper and chemicals, 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.
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