Oppenheimer Asset Management Inc. Sells 42,624 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Oppenheimer Asset Management Inc. lessened its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 45.9% in the 4th quarter, HoldingsChannel reports. The fund owned 50,304 shares of the company’s stock after selling 42,624 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Dollar Tree were worth $3,770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Dollar Tree by 6.8% in the third quarter. State Street Corp now owns 9,427,910 shares of the company’s stock worth $662,971,000 after purchasing an additional 596,191 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Dollar Tree by 0.5% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 6,939,526 shares of the company’s stock worth $487,987,000 after purchasing an additional 35,862 shares in the last quarter. Primecap Management Co. CA grew its stake in Dollar Tree by 5.5% during the 3rd quarter. Primecap Management Co. CA now owns 3,030,845 shares of the company’s stock worth $213,129,000 after buying an additional 158,385 shares during the last quarter. Janus Henderson Group PLC grew its stake in Dollar Tree by 9.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,844,762 shares of the company’s stock worth $129,724,000 after buying an additional 165,398 shares during the last quarter. Finally, Equity Investment Corp increased its position in Dollar Tree by 95.9% during the 3rd quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock valued at $107,264,000 after buying an additional 746,913 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of NASDAQ DLTR opened at $72.86 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The stock has a market capitalization of $15.66 billion, a price-to-earnings ratio of -15.27, a PEG ratio of 2.16 and a beta of 0.89. The firm’s 50 day simple moving average is $73.54 and its 200-day simple moving average is $72.94. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $151.21.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The firm had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts expect that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI lowered their price target on Dollar Tree from $94.00 to $92.00 and set an “in-line” rating for the company in a report on Tuesday, December 3rd. KeyCorp cut shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price target on shares of Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Citigroup lifted their price objective on shares of Dollar Tree from $64.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Truist Financial upped their target price on Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Seventeen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.58.

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.