Prudential PLC Acquires 9,867 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Prudential PLC increased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 45.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,498 shares of the company’s stock after acquiring an additional 9,867 shares during the period. Prudential PLC’s holdings in Dollar Tree were worth $3,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DLTR. Dorsal Capital Management LP bought a new stake in Dollar Tree in the fourth quarter worth approximately $35,512,000. Wellington Management Group LLP increased its holdings in Dollar Tree by 2.6% during the 4th 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. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Dollar Tree by 92.6% during 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 purchasing an additional 70,478 shares in the last quarter. Bridgefront Capital LLC raised its position in shares of Dollar Tree by 62.5% during the 4th quarter. Bridgefront Capital LLC now owns 4,918 shares of the company’s stock valued at $699,000 after buying an additional 1,892 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Dollar Tree by 1.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 43,671 shares of the company’s stock valued at $6,203,000 after purchasing an additional 743 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

DLTR has been the topic of a number of recent research reports. KeyCorp reduced their price objective on Dollar Tree from $145.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Barclays cut their target price on shares of Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 5th. Piper Sandler lowered their price objective on Dollar Tree from $112.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. BMO Capital Markets downgraded Dollar Tree from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $130.00 to $68.00 in a report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their target price on Dollar Tree from $145.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $92.53.

Dollar Tree Trading Down 3.0 %

DLTR opened at $65.39 on Wednesday. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of -14.25, a P/E/G ratio of 2.81 and a beta of 0.88. The stock’s 50 day moving average price is $96.22 and its 200-day moving average price is $113.62. Dollar Tree, Inc. has a one year low of $60.81 and a one year high of $151.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly 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). The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities analysts forecast that Dollar Tree, Inc. will post 5.34 EPS for the current year.

Insider Transactions at Dollar Tree

In related news, insider Robert Aflatooni sold 827 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total value of $87,314.66. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $1,026,765.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Daniel J. Heinrich purchased 2,200 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $68.27 per share, with a total value of $150,194.00. Following the purchase, the director now owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Aflatooni sold 827 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total transaction of $87,314.66. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $1,026,765.50. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Dollar Tree Company 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.