The Manufacturers Life Insurance Company Purchases 862 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

The Manufacturers Life Insurance Company lifted its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,313 shares of the company’s stock after acquiring an additional 862 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dollar Tree were worth $13,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DLTR. Strategic Financial Concepts LLC bought a new stake in Dollar Tree in the second quarter worth approximately $26,000. Register Financial Advisors LLC bought a new stake in shares of Dollar Tree in the 1st quarter valued at $28,000. Mather Group LLC. lifted its position in shares of Dollar Tree by 198.9% during the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after acquiring an additional 187 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Dollar Tree during the second quarter worth $37,000. Finally, Blue Trust Inc. grew its holdings in Dollar Tree by 174.5% in the second quarter. Blue Trust Inc. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 274 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Dollar Tree Price Performance

Dollar Tree stock opened at $69.49 on Thursday. Dollar Tree, Inc. has a 52 week low of $60.81 and a 52 week high of $151.21. The company’s 50 day moving average price is $85.21 and its two-hundred day moving average price is $105.71. The stock has a market cap of $14.94 billion, a P/E ratio of -15.14, a P/E/G ratio of 3.04 and a beta of 0.86. The company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.37). The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. On average, equities analysts predict that Dollar Tree, Inc. will post 5.33 earnings per share for the current year.

Insider Activity at Dollar Tree

In related news, Director Daniel J. Heinrich acquired 2,200 shares of the stock in a transaction on Friday, September 6th. The shares were acquired 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 owns 9,823 shares in the company, valued at approximately $670,616.21. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered Dollar Tree from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $111.00 to $70.00 in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on Dollar Tree from $130.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Guggenheim cut their target price on Dollar Tree from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Finally, Citigroup decreased their price target on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $90.68.

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.