Engineers Gate Manager LP Acquires New Position in Dollar Tree, Inc. (NASDAQ:DLTR)
Engineers Gate Manager LP acquired a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,900 shares of the company’s stock, valued at approximately $400,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Scharf Investments LLC acquired a new position in shares of Dollar Tree in the second quarter valued at about $113,994,000. Janus Henderson Group PLC grew its stake in Dollar Tree by 183.7% during the second quarter. Janus Henderson Group PLC now owns 1,893,177 shares of the company’s stock worth $160,920,000 after buying an additional 1,225,950 shares in the last quarter. Macquarie Group Ltd. grew its stake in Dollar Tree by 12.4% during the second quarter. Macquarie Group Ltd. now owns 7,717,972 shares of the company’s stock worth $656,029,000 after buying an additional 852,139 shares in the last quarter. Dorsal Capital Management LLC grew its stake in Dollar Tree by 144.4% during the second quarter. Dorsal Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $93,500,000 after buying an additional 650,000 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Dollar Tree during the second quarter worth about $51,247,000. 92.14% of the stock is currently owned by institutional investors.
DLTR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Tuesday, August 14th. OTR Global downgraded shares of Dollar Tree to a “positive” rating in a research note on Wednesday, August 22nd. BidaskClub downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Atlantic Securities upgraded shares of Dollar Tree from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a report on Monday, August 13th. Finally, Morgan Stanley dropped their price objective on shares of Dollar Tree from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday, November 30th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $101.64.
NASDAQ DLTR traded down $2.86 during mid-day trading on Friday, hitting $83.39. The company’s stock had a trading volume of 3,345,817 shares, compared to its average volume of 3,433,135. Dollar Tree, Inc. has a twelve month low of $78.78 and a twelve month high of $116.65. The company has a current ratio of 2.22, a quick ratio of 0.48 and a debt-to-equity ratio of 0.63. The company has a market cap of $20.52 billion, a P/E ratio of 17.16, a PEG ratio of 1.15 and a beta of 0.65.
Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Thursday, November 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.03. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.55 billion. Dollar Tree had a net margin of 7.64% and a return on equity of 17.11%. Dollar Tree’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Sell-side analysts predict that Dollar Tree, Inc. will post 5.45 EPS for the current year.
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About Dollar Tree
Dollar Tree, Inc operates discount variety retail stores in the United States and Canada. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care products, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; various merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods, which include Valentine's Day, Easter, Halloween, and Christmas merchandise.
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