Cerity Partners LLC Has $2.59 Million Stock Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

Cerity Partners LLC cut its holdings in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,560 shares of the company's stock after selling 3,688 shares during the period. Cerity Partners LLC's holdings in Dollar Tree were worth $2,594,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Intrepid Capital Management Inc. grew its position in shares of Dollar Tree by 103.6% during the 4th quarter. Intrepid Capital Management Inc. now owns 27,026 shares of the company's stock worth $2,025,000 after buying an additional 13,751 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Dollar Tree during the 4th quarter worth $340,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Dollar Tree by 50.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the company's stock worth $1,030,000 after purchasing an additional 4,619 shares during the last quarter. McGinn Penninger Investment Management Inc. lifted its stake in shares of Dollar Tree by 13.2% during the 1st quarter. McGinn Penninger Investment Management Inc. now owns 68,585 shares of the company's stock worth $5,149,000 after purchasing an additional 8,015 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Dollar Tree during the 4th quarter worth $316,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America dropped their target price on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company set a $105.00 target price on Dollar Tree and gave the company an "overweight" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. raised Dollar Tree from a "neutral" rating to an "overweight" rating and upped their price target for the company from $72.00 to $111.00 in a research note on Thursday, June 5th. The Goldman Sachs Group lowered Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, June 5th. Finally, Evercore ISI increased their target price on Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Dollar Tree currently has a consensus rating of "Hold" and a consensus target price of $92.00.

Insider Buying and Selling

In related news, CMO Richard L. Mcneely sold 21,026 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the completion of the sale, the chief marketing officer owned 50,419 shares of the company's stock, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.60% of the stock is currently owned by corporate insiders.

Dollar Tree Price Performance

Shares of NASDAQ:DLTR traded up $1.97 on Friday, reaching $110.12. 3,548,401 shares of the company traded hands, compared to its average volume of 4,236,929. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $111.03. The company's 50 day moving average is $96.67 and its 200-day moving average is $81.56. The stock has a market capitalization of $22.98 billion, a PE ratio of -7.95, a P/E/G ratio of 2.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.05. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. Dollar Tree's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, analysts anticipate that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree declared that its Board of Directors has authorized a share repurchase program on Wednesday, July 9th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 11.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.