Envestnet Asset Management Inc. Has $24.34 Million Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Envestnet Asset Management Inc. lifted its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 24.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,196 shares of the company's stock after acquiring an additional 63,615 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Dollar Tree worth $24,337,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DLTR. Vanguard Group Inc. raised its position in shares of Dollar Tree by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 23,450,228 shares of the company's stock worth $1,757,360,000 after purchasing an additional 163,368 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Dollar Tree by 5.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,920,748 shares of the company's stock worth $743,461,000 after purchasing an additional 533,920 shares during the last quarter. Capital International Investors raised its position in shares of Dollar Tree by 30.1% during the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company's stock worth $656,000,000 after purchasing an additional 2,023,819 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Dollar Tree by 14.4% during the 4th quarter. EdgePoint Investment Group Inc. now owns 7,940,163 shares of the company's stock worth $595,036,000 after purchasing an additional 1,000,637 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Dollar Tree by 382.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company's stock worth $488,974,000 after purchasing an additional 5,173,238 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on DLTR. Evercore ISI boosted their price target on Dollar Tree from $92.00 to $94.00 and gave the company an "in-line" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. upgraded Dollar Tree from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $72.00 to $111.00 in a report on Thursday, June 5th. BMO Capital Markets boosted their price target on Dollar Tree from $80.00 to $85.00 and gave the company a "market perform" rating in a report on Thursday, June 5th. Cfra Research upgraded Dollar Tree to a "hold" rating in a report on Wednesday, May 28th. Finally, Citigroup upgraded Dollar Tree from a "neutral" rating to a "buy" rating and boosted their price target for the company from $76.00 to $103.00 in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $92.00.

Insider Activity at Dollar Tree

In other Dollar Tree 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 sale, the chief marketing officer owned 50,419 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.60% of the company's stock.

Dollar Tree Stock Up 1.3%

NASDAQ:DLTR traded up $1.37 on Friday, reaching $109.52. The stock had a trading volume of 618,611 shares, compared to its average volume of 4,221,715. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $96.18 and a 200 day moving average of $81.27. The stock has a market cap of $22.86 billion, a P/E ratio of -7.91, a price-to-earnings-growth ratio of 2.29 and a beta of 0.86. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $110.08.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the company posted $1.43 earnings per share. The company's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Dollar Tree announced that its Board of Directors has authorized a share buyback program on Wednesday, July 9th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to purchase up to 11.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board 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.