Toronto Dominion Bank Lowers Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

Toronto Dominion Bank trimmed its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 89.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 122,524 shares of the company’s stock after selling 1,005,176 shares during the period. Toronto Dominion Bank’s holdings in Dollar Tree were worth $16,314,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in DLTR. International Assets Investment Management LLC acquired a new position in shares of Dollar Tree in the fourth quarter worth about $15,638,000. DAVENPORT & Co LLC raised its position in shares of Dollar Tree by 155.2% in the fourth quarter. DAVENPORT & Co LLC now owns 31,275 shares of the company’s stock worth $4,443,000 after acquiring an additional 19,019 shares during the period. Dorsal Capital Management LP acquired a new position in shares of Dollar Tree in the fourth quarter worth about $35,512,000. Wellington Management Group LLP raised its position in shares of Dollar Tree by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 2,881,772 shares of the company’s stock worth $409,356,000 after acquiring an additional 73,588 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Dollar Tree by 92.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 146,614 shares of the company’s stock worth $20,826,000 after acquiring an additional 70,478 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Dollar Tree Trading Up 1.3 %

Shares of Dollar Tree stock traded up $1.30 during mid-day trading on Friday, hitting $103.93. The stock had a trading volume of 1,878,014 shares, compared to its average volume of 2,776,422. The firm has a 50-day moving average of $108.90 and a two-hundred day moving average of $124.26. Dollar Tree, Inc. has a 12-month low of $101.83 and a 12-month high of $154.96. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market cap of $22.34 billion, a P/E ratio of -22.64, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.63 billion. During the same quarter in the prior year, the company posted $1.47 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Dollar Tree, Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on DLTR. Morgan Stanley decreased their price objective on shares of Dollar Tree from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, June 6th. Gordon Haskett downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $150.00 to $140.00 in a research report on Wednesday, April 3rd. Wells Fargo & Company reduced their price target on shares of Dollar Tree from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Piper Sandler downgraded shares of Dollar Tree from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $143.00 to $112.00 in a research report on Tuesday, July 16th. Finally, Truist Financial reduced their price target on shares of Dollar Tree from $147.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Dollar Tree presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.55.

Insider Activity

In other news, insider Robert Aflatooni sold 827 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total value of $87,314.66. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $1,026,765.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.