Equity Investment Corp Acquires 11,862 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Equity Investment Corp lifted its stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,422,456 shares of the company's stock after acquiring an additional 11,862 shares during the quarter. Dollar Tree makes up 2.4% of Equity Investment Corp's portfolio, making the stock its 18th biggest holding. Equity Investment Corp owned 0.66% of Dollar Tree worth $106,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Dollar Tree by 593.3% during the 1st quarter. Victory Capital Management Inc. now owns 454,579 shares of the company's stock worth $34,125,000 after purchasing an additional 389,011 shares during the last quarter. Bridgewater Advisors Inc. acquired a new position in Dollar Tree during the first quarter worth $254,000. Edgestream Partners L.P. lifted its position in shares of Dollar Tree by 129.0% in the first quarter. Edgestream Partners L.P. now owns 42,721 shares of the company's stock worth $3,207,000 after buying an additional 24,069 shares during the last quarter. CWM LLC boosted its stake in shares of Dollar Tree by 21.6% during the 1st quarter. CWM LLC now owns 8,245 shares of the company's stock worth $619,000 after acquiring an additional 1,467 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Dollar Tree by 5.2% in the 1st quarter. New York State Common Retirement Fund now owns 112,312 shares of the company's stock worth $8,431,000 after purchasing an additional 5,600 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group downgraded Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, June 5th. Loop Capital reiterated a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. Guggenheim restated a "buy" rating and set a $100.00 price target on shares of Dollar Tree in a report on Thursday, June 5th. Jefferies Financial Group assumed coverage on Dollar Tree in a research report on Thursday. They issued a "hold" rating and a $106.00 price target on the stock. Finally, Evercore ISI increased their target price on Dollar Tree from $92.00 to $94.00 and gave the company 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 assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $92.00.

Dollar Tree Price Performance

Dollar Tree stock traded up $1.55 during mid-day trading on Thursday, hitting $108.17. 2,104,777 shares of the company were exchanged, compared to its average volume of 4,225,736. The company has a market capitalization of $22.57 billion, a PE ratio of -7.81, a price-to-earnings-growth ratio of 2.29 and a beta of 0.86. The business has a fifty day moving average of $95.72 and a 200 day moving average of $81.04. Dollar Tree, Inc. has a 1-year low of $60.49 and a 1-year high of $109.74. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62.

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

Dollar Tree declared that its board has initiated a stock 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 buy up to 11.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the business's stock in a transaction dated 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 transaction, the chief marketing officer directly owned 50,419 shares of the company's stock, valued at approximately $4,770,645.78. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

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.