Equity Investment Corp Decreases Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Equity Investment Corp decreased its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 1,410,594 shares of the company’s stock after selling 114,780 shares during the period. Dollar Tree accounts for 2.5% of Equity Investment Corp’s holdings, making the stock its 17th biggest holding. Equity Investment Corp’s holdings in Dollar Tree were worth $105,710,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Empower Advisory Group LLC grew its holdings in Dollar Tree by 41.3% during the 3rd quarter. Empower Advisory Group LLC now owns 659,747 shares of the company’s stock valued at $46,393,000 after purchasing an additional 192,754 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Dollar Tree by 374.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,277 shares of the company’s stock worth $160,000 after buying an additional 1,797 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in Dollar Tree in the 3rd quarter valued at about $19,591,000. Anthracite Investment Company Inc. acquired a new stake in shares of Dollar Tree during the third quarter valued at about $2,813,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Dollar Tree during the third quarter worth about $5,235,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Down 2.7 %

Dollar Tree stock opened at $74.14 on Thursday. The company has a 50-day simple moving average of $73.46 and a 200-day simple moving average of $73.22. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $151.21. The firm has a market capitalization of $15.94 billion, a P/E ratio of -15.54, a P/E/G ratio of 2.16 and a beta of 0.89. 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 (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DLTR. StockNews.com raised Dollar Tree from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Truist Financial upped their target price on Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on shares of Dollar Tree from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price target on shares of Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, KeyCorp downgraded shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. Seventeen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Dollar Tree has an average rating of “Hold” and an average target price of $85.58.

Dollar Tree Profile

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.