ICICI Prudential Asset Management Co Ltd Purchases 409 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

ICICI Prudential Asset Management Co Ltd grew its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 17.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,805 shares of the company’s stock after buying an additional 409 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Dollar Tree were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Dollar Tree by 223.4% in the first quarter. National Bank of Canada FI now owns 1,414,788 shares of the company’s stock valued at $188,379,000 after purchasing an additional 977,313 shares in the last quarter. Primecap Management Co. CA increased its holdings in Dollar Tree by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after buying an additional 957,275 shares during the period. Renaissance Technologies LLC raised its stake in shares of Dollar Tree by 488.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,044,595 shares of the company’s stock valued at $111,531,000 after buying an additional 867,054 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Dollar Tree in the 1st quarter valued at $99,862,000. Finally, Natixis bought a new position in shares of Dollar Tree during the 1st quarter worth about $97,439,000. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Trading Up 4.6 %

DLTR opened at $65.15 on Thursday. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $151.21. The firm has a market cap of $14.01 billion, a PE ratio of -13.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02. The firm’s fifty day moving average is $68.02 and its two-hundred day moving average is $93.12.

Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) 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 business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Dollar Tree, Inc. will post 5.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DLTR shares. UBS Group lowered their target price on shares of Dollar Tree from $155.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Truist Financial dropped their price objective on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BMO Capital Markets cut shares of Dollar Tree from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $68.00 in a research report on Thursday, September 5th. The Goldman Sachs Group reduced their target price on Dollar Tree from $145.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, Guggenheim lowered their price objective on shares of Dollar Tree from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Dollar Tree has a consensus rating of “Hold” and an average price target of $88.11.

Insider Buying and Selling at Dollar Tree

In related news, Director Daniel J. Heinrich acquired 2,200 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $68.27 per share, with a total value of $150,194.00. Following the completion of the transaction, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.